Confidential transactions: improving BTC and LTC

Confidential Transactions technology is stated to be important in improvement of Litecoin and Bitcoin transactions
14 November   638

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. 

BTCPay and CoinCards added support for Litecoin

BTCPay Server and Coincards gift cards payment service started accepting Litecoin from January 9 
10 January   275

BTCPay server, which is a self-hosted payment processor for Bitcoin, has announced support for Litecoin cryptocurrency, which became the second currency to be accepted on the service. Nicolas Dorier, the developer of BTCPay, tweeted that users are able to try Litecoin integration for their stores on testnet, and to pay an invoice part in LTC and part in BTC.

At the moment of press, these are the main market parameters of Litecoin:

  • Average Price: $242,45
  • Market Cap: $13 260 908 341
  • 24h Volume: $1 047 210 000