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Nobody Interested in Working on Litecoin Protocol, Says Charlie Lee –

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Leaked conversations between Charlie Lee and other principle actors involved with Litecoin show evidence of no significant work being done on the cryptocurrency code since the start of 2019.


Charlie Lee Dropped the Ball

According to a Reddit post submitted less than a week ago, the Litecoin code development arena is a ghost town. The post revealed a series of correspondence between LTC creator Charlie Lee and some members of the Litecoin Foundation.

Bitcoinist was able to obtain an HTML download of these leaked chat messages showing Franklyn Richards, the director of the Litecoin Foundation taking Lee to task on the absence of any progress being made to improving the crypto protocol.

An excerpt from Franklyn’s argument reads:

I was extremely disappointed to discover that no progress had been made on CT since the announcement, especially when I stand on stage telling everyone it’s happening and we are actively working on it.

CT above refers to Confidential Transactions — a protocol upgrade Lee promised via Twitter about eight months ago. At the time, the Litecoin creator declared that CT will be available before the end of 2019.

Last Sunday (August 11, 2019), Lee took to Twitter to address these speculations. According to Lee, even though the Litecoin GitHub shows no code commits in 2019, there is still work being done which doesn’t reflect on the master branch.

The Litecoin creator did, however, admit that he “dropped the ball” on the promised Mimblewimble (MW) and CT protocols. Lee chalked these up to being side-tracked by activities in the adoption arena neglecting core development issues such as fungibility.

Money Cannot Solve Litecoin’s Problems

While responding to criticism supposedly from Richards, Charlie Lee offered a seemingly startling admission about Litecoin’s pedigree, saying:

The honest truth is that no one is interested in working on Litecoin protocol development work. At least no one technically competent. You can’t just throw money at this problem. This is true for Litecoin since the beginning. It has only been me, Warren, and Thrasher.

Lee’s admission echoes similar findings recently published by Electric Capital in its Developer Report showing the latest trends in the crypto code development arena. According to the report, Litecoin has a lesser number of developers than other projects that command a far lower daily transaction volume.

Back in April, Mike Novogratz of Galaxy Digital called Litecoin a glorified testnet for Bitcoin. With a dearth of competent developers, Litecoin may well become obsolete long before protocols like the Lightning Network begin to make a significant impact.

Do you think LTC is dying a slow death? Let us know in the comments below.


Images via Twitter @SatoshiLite. Shutterstock





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More Americans have heard of Dogecoin than Ethereum: Survey

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In just over five years since it launched, Ethereum introduced the world to smart contracts, decentralized finance, yield farming and non-fungible tokens, and has long stood just behind Bitcoin as the second-largest blockchain project by market capitalization.

Dogecoin (DOGE) is a meme cryptocurrency which has provided no innovation, has no real raison d’etre, and is only popular because it became the plaything of a famous multi-billionaire during the past 12 months.

So naturally, as one might expect, the average citizen is already more familiar with Dogecoin than they are with Ethereum. That’s according to the results of a survey conducted by Harris Poll, in conjunction with CouponCabin, which asked over 2,000 adults in the United States to give their thoughts on cryptocurrencies.

According to the survey’s findings, 29% of respondents said they were familiar with Dogecoin, compared to just 21% who were familiar with Ethereum.

Of the total 2,063 respondents, 89% said they had already at least heard of cryptocurrency. Bitcoin was already known to a majority (71%) of respondents, with Dogecoin being the second most well-known coin.

Other digital assets that Americans claimed familiarity with included the stablecoin launched by Coinbase and Circle, USD Coin (USDC), of which 21% of respondents said they had knowledge. Some 18% of respondents said they were familiar with Litecoin (LTC), and 10% said Stellar (XLM) was known to them.

When asked whether they believed cryptocurrencies would become the future of money, 31% responded positively, and 30% said they thought of crypto as “innovative.” At the same time, 23% of respondents said they regarded cryptocurrency as a get-quick-rich scheme, while 19% characterized the technology as shady or nefarious. Almost half (44%) of respondents said they’d be open to receiving cryptocurrency as part of an online cashback rewards program.