Confidential transactions: improving BTC and LTC

Confidential Transactions technology is stated to be important in improvement of Litecoin and Bitcoin transactions
14 November 2017   1562

In the email from November 14, Bitcoin developer Greg Maxwell described updates to the technology of confidential transactions, which would make the information about transactions more private and let the amounts be seen only to sender, receiver and the parties they choose to share information with through sharing watching keys or through revealing single transactions.

Charlie Lee, Litecoin creator, in a response to the abovementioned statement claimed that he is looking forward to adding such improvements to Litecoin in future as to address the lack of fungibility which he believes to be the only feature that Bitcoin and Litecoin are missing. He states the improvements may happen in a form of a soft fork.

The main advantages of confidential transactions are the absense of any substantial new cryptographic assumptions, a high performance compared to alternatives, there is no trusted setup, and they don't involve the creation of any forever-growing unprunable accumulators.

Reddit.com users comments towards confidential transactions
Reddit.com users comments towards Confidential Transactions

The members of Bitcoin and Litecoin communities are looking forward to improvements to transactions which will ease the practical usage issues which are of current interest for many. 

Lite.IM Beta to be Released

Lite.IM will allow users to interact with Litecoin blockchain using text commands through a special API-system
09 August 2018   343

Developers of the Zulu Republic blockchain project presented Lite.IM software that allows users to make transactions in the Litecoin network using SMS messages and the Telegram messenger.

Zulu Republic is convinced that Telegram is the safest messenger and provides all the necessary opportunities for testing the concept before launching SMS payments.

Representatives of the project emphasize that a lot of people live in countries with limited access to the Internet, under conditions of strict censorship by political regimes, without access to financial services. In addition, 64% of the world's population owns mobile phones, but only 33% have smartphones. This is the reason why Zulu Republic is convinced of the need to link SMS messages and Litecoin blockchain, not relying on the availability of the Internet.

By opening the world of cryptocurrency to these underserved and vulnerable populations, we aim to provide a degree of financial agency, autonomy, and (perhaps most importantly) security that they’ve been denied up until now.
 

Zulu Republic

Lite.IM will allow users to interact with Litecoin blockchain using text commands through a special API-system. At the moment the community already has the opportunity to use Telegram-bot to check balances and send Litecoin to LTC-addresses or e-mail. The solution is written on JavaScript. More info is available at GitHub.

The creator of "digital silver" Charlie Lee is convinced that the bear market allows us to focus on developing solutions for mass adoption of technology.