TapJets to Add Litecoin Support

Earlier this booking platform had already included Ethereum and Bitcoin as a payment option
31 May 2018   2217

The American instant booking platform TapJets has added Litecoin (LTC) crypto currency as an additional payment option. 

TapJets Twitter
TapJets Twitter

The executives of the platform consider Litecoin to be a safe and reliable crypto currency. That's why TapJets customers can now book a private flight with LTC and go on a flight without waiting for the transaction to finish on the block. Payment in LTC can be made directly from your smartphone.

We are obsessed with making TapJets user experience as simple as possible.  When we decide to accept a new payment method, we have to make sure that our 18,000+ users have minimal impact to theirs in-app user experience, and the exchange rate is accurate and accounts for all of the fees. 

Eugene Kesselman

CEO, TapJets

Earlier, in addition to traditional payments on credit cards and bank transfers, the platform accepted only bitcoin and Ethereum as payment.

As the creator of the Litecoin network Charlie Lee wrote on Twitter, it took only two weeks to implement the idea of the platform. Also, according to Lee, speed, liquidity and ease of integration make Litecoin an ideal crypto currency for payments.

Litecoin Foundation to Publish 2 LIPs

Litecoin Improvement Proposals are designed to improve privacy with MimbleWimble technology implementation
23 October 2019   219

The developers of the Litecoin Foundation published two proposals for improving the protocol (LIP-0002 and LIP-0003), which provide for the integration of MimbleWimble technology to ensure transaction privacy.

If accepted, sponsored by Andrew Young, David Burkett, and Charlie Lee, users will be able to use the new confidential transaction format through expansion units, which will be released simultaneously with the main units.

According to the developers, the currently existing transparency of the Litecoin blockchain impedes “functional fungibility in a government regulated merchant world.”

Personal identifiable information collected from IP address, exchanges, or merchants can be leaked then tied to your addresses. Also services, such as chain analysis, provide risk-scores based on whether or not any addresses that they have blacklisted appear in its transactional history. This results in some businesses treating these coins as “tainted” and then sending them back to the owner, or worse yet, shutting down their account.

LIP-0003 "Motivation" Section

According to the documentation, coins in the canonical network will need to be sent to a special address, after which they will be available in expansion units.

To implement the update, you need soft fork. Clients with outdated software will be able to continue to work with the main network, however, transactions in expansion units will not be available to them.

It is assumed that the update will be activated a year after the release date. However, this can happen earlier, provided that 75% of the miners vote in favor of the decision.