POSSIBLE LITECOIN AND MONERO MERGER STEPS CLOSER TO REALITY

POSSIBLE LITECOIN AND MONERO MERGER STEPS CLOSER TO REALITY
Jan 28, 2018 09:32 PM By: Guest Author | 11109 Views

Charlie Lee reveals his dream to work with Monero in a list of tweets he posted yesterday, challenging that Litecoin’s liquidity would be a good rush for Monero’s anonymity and fungibility.

Monero (XMR) project lead Riccardo Spagni and Litecoin (LTC) inventor Charlie Lee would seem to be taking experimental baby steps in perhaps bringing their two coins closer. Spagni posted the following tweet yesterday, which first bandied the opinion of a possible merger between the two cryptocurrencies:

Such a productive few days, finally got to sit down with @SatoshiLite and talk about a possible merger between the Litecoin Enterprise Alliance and the Monero Enterprise Alliance, which we’d obviously call the LAMEA. #blessed #justblockchainthings pic.twitter.com/yIclMHH2ke

— Riccardo “fluffyblockchain” Spagni (@fluffypony) 27 January 2018

THE LITE SIDE

Lee, who has professed a desire for enhanced anonymity in the past concerning Litecoin,  was keen to respond in his own brave manner with his own series of tweets:

The above tweet highlights what is quickly growing the future direction for cryptocurrency: on-chain atomic swaps, where two separate coins can theoretically be transferred in a secure and instant manner. On-chain atomic swap technology is set to transform the current crypto industry, as it was approved by the recently enacted SegWit changes that Litecoin first examined and Bitcoin finally adopted late last year. Lee went on to develop on his ambition to see Monero’s unique anonymity and fungibility whole 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 collaborative opportunities. He earlier helped saved an ailing Dogecoin by allowing the two coins to be mined together. This was in the early days of pool mine swapping, wherever mining pools would turn to mine the most profitable coin at that precise time. Litecoin was able to give Dogecoin a life raft while also introducing the insular area to Litecoin and the wider world of crypto.

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

Selling his stash was a PR move that directed very wrong for Lee in the mercurial world of crypto. Lee had earlier been seen as providing a strong guiding support for the crypto community as a whole by overseeing the implementation of SegWit on Litecoin and next Bitcoin. This was a feat that included persuading the importance of large mining operations. Much of the goodwill he had built up was taken down by charges of self-interest and of losing faith in his own coin.

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

#Litecoin #Monero #Dogecoin #SegWit

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