ByCharlie Lee

9:15 AM - 28 Jan 2019

Fungibility is the only property of sound money that is missing from Bitcoin & Litecoin. Now that the scaling debate is behind us, the next battleground will be on fungibility and privacy. I am now focused on making Litecoin more fungible by adding Confidential Transactions. 🚀

  1. Litecoin dev team spent hours discussing how to add Confidential Transactions. The way to do a softfork CT is very similar to doing extension blocks and extension blk may be simpler and can do a lot more. We are now also exploring doing bulletproof MimbleWimble w/ extension blks.

  2. Team has been chatting with the and team about MimbleWimble on Litecoin with Extension Blks. Pleasantly surprised that Beam has already implemented switch-commitments w/ ElGamal. It's a safety switch to protect against quantum computing breaking CT soundness.

  3. The extension blocks concept is similar to sidechains. Think of this as a MimbleWimble sidechain that is attached to the main chain using consensus via a softfork upgrade. You can opt-in by sending coins into the MW extension blocks and also send coins out back to the main chain.

  4. We still have a lot of work ahead of us. Need to make sure the tech is solid and come up with a plan to test everything and safely upgrade the Litecoin network. When we have a solid plan, we will write up a Litecoin Improvement Proposal (LIP) for the community to critique.

  5. Too hard to do MW. It changes the blockchain too much and has to be a hardfork.

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