Monero (XMR) mission lead Riccardo Spagni and Litecoin (LTC) creator Charlie Lee might appear like taking tentative toddler steps in potentially bringing their cash nearer. Spagni posted the subsequent tweet yesterday, which first bandied the idea of a possible merger between the two cryptocurrencies:
THE LITE aspect
Lee, who has professed a preference for extended anonymity in the beyond with regard to Litecoin, was short to reply in his own indomitable manner together with his personal collection
The above tweet highlights what is fast becoming the destiny course for cryptocurrency: on-chain atomic swaps, in which different coins can theoretically be exchanged in a cozy and instantaneous way. On-chain atomic switch era is set to revolutionize the present day crypto industry, because it become enabled by using the currently enacted SegWit adjustments that Litecoin first examined and Bitcoin sooner or later adopted overdue remaining yr. Lee went directly to elaborate on his ambition to look Monero’s precise anonymity and fungibility supplement Litecoin’s liquidity:
CHARLIE LEE’S beyond MERGED MINING PARTNERSHIP WITH DOGECOIN
it might no longer be the primary time that Charlie Lee has reached out to other cash for cooperative opportunities. He formerly helped saved an sick Dogecoin through allowing the 2 coins to be mined collectively. This changed into within the early days of pool mine swapping, wherein mining pools might switch to mine the most profitable coin at that unique time. Litecoin become able to provide Dogecoin a life raft at the same time as additionally introducing the insular community to Litecoin and the broader global of crypto.
LITECOIN CONTROVERSY
Charlie Lee these days made headlines along with his move to separate his own economic pastimes from the Litecoin network by selling his whole proportion of Litecoins. This changed into broadly seen as him leaving behind his personal coin.
promoting his stash become a PR pass that became very wrong for Lee within the fickle world of crypto. Lee had previously been seen as providing a sturdy guiding hand for the crypto community as an entire with the aid of overseeing the implementation of SegWit on Litecoin and later Bitcoin. This was a feat that involved persuading the pastimes of huge mining operations. a good deal of the goodwill he had constructed up turned into introduced down by using accusations of self-hobby and of dropping religion in his personal coin.
If the Monero partnership is going ahead, it'd shop quite a few development time for Litecoin, which has its very own foundation, to which Lee contributes. yet, in flip, the improvement burden referred to in Lee’s tweet could also fall to Monero as well.