- Lee maintained that the bear market has given the network an opportunity to build more and push products out.
- According to Lee, the network is looking at the ways to “add more fungibility into the Litecoin protocol.”
The founder of Litecoin, Charlie Lee recently spoke to NewsBTC in an exclusive interview where he shared the plans that Litecoin has, his comments on the bear market and cryptocurrency adoption among other things.
Lee maintained that the bear market has given the network an opportunity to build more and push products out because there are “fewer distractions.” According to the former Coinbase director of engineering, his network is looking at the ways to “add more fungibility into the Litecoin protocol.”
“So what we’re looking at now is doing a MimbleWimble extension block upgrade for Litecoin. So we’re doing a lot of research into that about how we could make such an implementation in a safe way. We want more fungibility and privacy in the Litecoin ecosystem.”
While commenting on the bear market, Lee said that the current downtrend is similar to other bear markets in the past but “One thing about this bear market, even though it’s been over a year now, is that it hasn’t been as bad for people.” He continued:
“I think we haven’t gotten to that point yet, and maybe we might not go there this time, which will be great. But I wouldn’t be surprised if there are more sell-offs, or if it takes a lot longer to climb out of it. It could be another year or so. But who knows? It’s hard to predict these things.”
Charlie Lee reckons that volatility is the one thing holding back crypto adoption. The volatile prices make crypto hard to use hence hindering adoption. “Volatility is kind of a chicken and the egg type scenario. Once there is adoption, volatility will decrease, meaning more adoption.”