Possible Litecoin and Monero Merger Steps Closer To Reality


Charlie Lee admits his ambition to work with Monero in a series of tweets he posted yesterday, claiming that Litecoin’s liquidity would be a good fit for Monero’s anonymity and fungibility.

Monero (XMR) creator Riccardo Spagni and Litecoin (LTC) creator Charlie Lee would appear to be taking tentative baby steps in potentially bringing their two coins closer. Spagni posted the following tweet yesterday, which first bandied the idea of a possible merger between the two cryptocurrencies:

The Lite Side

Lee, who has professed a desire for increased anonymity in the past with regard to Litecoin,  was quick to respond in his own indomitable manner with his own series of tweets:

The above tweet highlights what is quickly becoming the future direction for cryptocurrency: on-chain atomic swaps, where two different coins can theoretically be exchanged in a secure and instant manner. On-chain atomic swap technology is set to revolutionize the current crypto industry, as it was enabled by the recently enacted SegWit changes that Litecoin first tested and Bitcoin finally adopted late last year. Lee went on to elaborate on his ambition to see Monero’s unique anonymity and fungibility complement Litecoin’s liquidity:

Charlie Lee’s Past Merged Mining Partnership With Dogecoin


It would not be the first time that Charlie Lee has reached out to other coins for cooperative opportunities. He previously helped saved an ailing Dogecoin through allowing the two coins to be mined together. This was in the early days of pool mine swapping, where mining pools would switch to mine the most profitable coin at that precise time. Litecoin was able to offer Dogecoin a life raft while also introducing the insular community to Litecoin and the wider world of crypto.

Litecoin Controversy

Lee: I'm Not Quitting

Charlie Lee recently made headlines with his move to separate his own financial interests from the Litecoin community by selling his entire share of Litecoins. This was widely seen as him abandoning his own coin.

Selling his stash was a PR move that turned very wrong for Lee in the fickle world of crypto. Lee had previously been seen as providing a strong guiding hand for the crypto community as a whole by overseeing the implementation of SegWit on Litecoin and later Bitcoin. This was a feat that involved persuading the interests of large mining operations. Much of the goodwill he had built up was brought down by accusations of self-interest and of losing faith in his own coin.

If the Monero partnership goes ahead, it would save a lot of development time for Litecoin, which has its own foundation, to which Lee contributes. Yet, in turn, the development burden mentioned in Lee’s tweet would also fall to Monero as well.

Are you a Litecoin owner? Would a partnership with Monero be something you would like to see? Let us know in the comments below.

Images courtesy of Bitcoinist archives, Twitter/@SatoshiLite, Twitter/@fluffypony, and Pixabay.

The post Possible Litecoin and Monero Merger Steps Closer To Reality appeared first on Bitcoinist.com.

Written by Matthew Tompkins @ http://bitcoinist.com/possible-litecoin-monero-merger-steps-closer-reality/ January 28, 2018 Matthew Tompkins

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