Confidential Transactions - A Soft Fork For Litecoin

bitcoinparadise (67)in #anonymous • 8 years ago (edited)

Will The Community Agree?

Yesterday I found a post on reddit from Litecoin developer @xinxi, mentioning adding confidential transactions to Litecoin core. The developer does not discuss too much as it was a short post and straight to the point:

"The basic idea of confidential transaction is to obfuscate the amount of Litecoins in all inputs and outputs and at the same time guarantee all outputs equal to the inputs in a cryptographically verifiable way using a technique named Pedersen commitment."

Ring signatures is being the feature to improve anonymity with transactions on the network and a soft fork needed for these changes to take effect and "unanimous" decision by the community.

I think overall this is great as it keeps Litecoin in the competition between the top cryptocurrencies but is it a little too late? Majority of the top coins stress anonymous transactions so why should these changes want the crypto community to start using Litecoins more?

We will find out if the fork happens this way.

Thank you for taking the time to read my post.
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