In the past couple of months, there has been news circulating in the Litecoin community that the project is dying. This follows the supposed death of altcoin in December, according to the Erick Finman, the Bitcoin millionaire.
Most of these statements are seeming to stem from the lack of Litecoin’s overt development. In 2019, the cryptocurrency had not seen much activity in the main repository, even though there has been a recurring price increase for nearly every other type of crypto asset, Litecoin included.
There have been some recent statements released about new privacy guards being implemented into the blockchain. To this day, however, there has been no tangible evidence of any such privacy changes and the onslaught of hate for the cryptocurrency and the team surrounding it continues to grow.
Reddit Leak Regarding Litecoin
The rumors regarding Litecoin reached its peak recently when a Reddit user decided to leak a conversation online that was between two of the top executives of the Litecoin team. The conversation seemed to prove allegations that developers were not actively working on a project they said they were. The post ended up gaining a top spot on the front page of the social site for many hours.
Charlie Lee Clears The Air About Litecoin
The foundation of Litecoin has not been too pleased with all of the rumors swirling around about the cryptocurrency. The creator of the project is Charlie Lee. He decided to release a 16-part forum thread to clear the air about what is going on and to hush the critics. The lengthy Twitter storm revealed that the developers were truly hard at work on the project and that the codebase was going to be very similar to Bitcoin’s. As with other projects, GitHub does not actively register any changes to the repository for Litecoin.
Lee also asserted that Litecoin has worked on projects in years passed using this method for development. He also joked around saying that he wouldn’t be surprised if in 2020 people were still going to be claiming Litecoin is dead, even with his explanation this year.
With regards to privacy solutions using Confidential Transactions and MimbleWimble for Litecoin, Lee said he ended up getting sidetracked with other projects and put it aside for the time being. The projects that took priority included the awareness of LTC and other crypto assets. Lee concluded by stating he would begin focusing a huge portion of his time keeping the community updated to keep rumors at bay.
Dil Bole Oberoi
