Charlie Lee Sheds Light on Litecoin, Hints at MimbleWimble
Originally published on: BTCMANAGER
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August 12, 2019
Litecoin founder Charlie Lee has taken to Twitter to offer a more honest view on the state of Litecoin’s network development. As per his Twitter thread, Litecoin adopts most of its code from Bitcoin with a few months lag, which causes people to believe that development activity has come to a standstill. Additionally, commits aren’t released on the main branch of the project and are publicly available on a Litecoin Core developer’s personal GitHub branch, August 11, 2019.
How Development on Litecoin is Streamlined
According to Charlie Lee, Litecoin is developed by the likes of 4-5 developers, one of whom works on it full-time and maintains the master repository for the code; at the moment, all of the code for the next Litecoin Core release is being maintained by Thrasher a.k.a Adrian Gallagher.
Lee has written off rumors that development on Litecoin has halted as FUD, and claims these rumors surface on a yearly basis. This topic arose this time around as a result of the SegWit adoption discussion.
In an attempt to dispel this hearsay, Lee offered some clarity on how developmental activity on Litecoin takes place. Whoever is maintaining the master branch at the time is the person who is working on developing the new release of Litecoin Core. Most of the code is taken from Bitcoin and implemented in Litecoin, so it looks like Litecoin hasn’t done any work when in reality they have refined and implemented Bitcoin commits from late 2018 in May 2019.
Litecoin development has worked like this for years, and in their defense, they do not need much of their own original. As the name suggests, Litecoin is simply a lighter version of Bitcoin with faster block times and increased throughput. The goal of Litecoin is to scale for micropayments rather than becoming a settlement layer like Bitcoin.
All of this has come just a week after the Litecoin block reward halving.
Work on MimbleWimble and Confidential Transactions to Resume
On a side note, Charlie Lee has committed himself to helping with Litecoin development, and has realized he has downplayed his duties as a dev and focused on adoption.
MimbleWimble and Confidential Transactions (CT) are the newest additions to the Litecoin development agenda, as Lee promised months ago.
MimbleWimble and CT will bring about a drastic change to Litecoin and move it off the path of emulating Bitcoin. The protocol change will essentially remove the concept of inputs and outputs as well as the address algorithm on the blockchain.
To summarize, MimbleWimble makes the blockchain more efficient in terms of data management and increases the scope of privacy and fungibility.
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