- Litecoin creator Charlie Lee feels that fungibility is lacking in cryptocurrencies.
- Litecoin will enable confidential transactions via a soft fork to enable fungibility.
Charlie Lee, the founder of Litecoin, announced via Twitter that Litecoin is looking to enable confidential transactions to enable fungibility. He tweeted:
“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.”
In economics, fungibility is the property of an asset whose individual units are essentially interchangeable. For example, since one kilogram of pure gold is equivalent to any other kilogram of pure gold, it is a fungible asset. Charlie Lee also stated that this change doesn’t need to come via hard fork as confidential transactions can be introduced via a soft fork.
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