Charlie Lee admits his ambition to work with Monero in an exceedingly series of tweets he posted yesterday, claiming that Litecoin’s liquidity would be a decent acceptable Monero’s anonymity and exchangeability.
Monero (XMR) project lead Riccardo Spagni and Litecoin (LTC) creator Charlie Lee would appear to be taking tentative baby steps in probably delivery their 2 coins closer.
The tweet highlights what’s quickly turning into the long run direction for cryptocurrency: on-chain atomic swaps, wherever 2 totally different coins will in theory be changed in an exceedingly secure and instant manner. On-chain atomic swap technology is ready to revolutionize the present crypto trade, because it was enabled by the recently enacted SegWit changes that Litecoin initial tested and Bitcoin finally adopted late last year. Lee went on to elaborate on his ambition to envision Monero’s distinctive obscurity and changeableness complement Litecoin’s liquidity.
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CHARLIE LEE’S PAST incorporated MINING PARTNERSHIP WITH DOGECOIN
It would not be the primary time that Charlie Lee has reached resolute different coins for cooperative opportunities. He antecedently helped saved Associate in Nursing under the weather Dogecoin through permitting the 2 coins to be well-mined along. This was within the time period of pool mine swapping, wherever mining pools would switch to mine the foremost profitable coin at that precise time. Litecoin was able to provide Dogecoin a raft whereas additionally introducing the insular community to Litecoin and also the wider world of crypto.
Charlie Lee recently created headlines together with his move to separate his own monetary interests from the Litecoin community by marketing his entire share of Litecoins. This was wide seen as him abandoning his own coin.
Selling his stash was a PR move that turned terribly wrong for Lee within the fickle world of crypto. Lee had antecedently been seen as providing a robust guiding hand for the crypto community as a full by overseeing the implementation of SegWit on Litecoin and later Bitcoin. This was a effort that concerned persuading the interests of huge mining operations. abundant of the goodwill he had designed up was brought down by accusations of self-interest and of losing religion in his own coin.
If the Monero partnership goes ahead, it’d save plenty of development time for Litecoin, that has its own foundation, to that Lee contributes. Yet, in turn, the event burden mentioned in Lee’s tweet would additionally fall to Monero likewise.