Yesterday, one Reddit user interested in the technological progress of cryptocurrencies, asked the Litecoin (LTC) community about the possibility of a 'Schnorr-Taproot' upgrade of the 'Blockchain silver' network. And here is how the Litecoin (LTC) developer responded.
Before Bitcoin (BTC) or after?
The user celentano1234, who is challenging the Reddit communitites related to blockchain projects with rather pointed questions, decided to try to uncover the plans of Litecoin (LTC) developers. He asked them about the possibility of an upgrade of the network with the roll-out of Schnorr signatures and Taproot schemes, for the unmatched level of security.
The user Losh11, who may be full-time Litecoin developer Loshan T, answered that it is neither a problem for Bitcoin (BTC) to implement such upgrades nor for Litecoin (LTC) to follow the example of its big brother.
Prominent crypto analyst Lucas Nuzzi supposes that this upgrade may soft-fork the Bitcoin (BTC) network in 2020.
Litecoin (LTC) bets on privacy
In a nutshell, with the Schnorr/Taproot upgrade, the mechanism of transaction signing in the Litecoin (LTC) network will be reconsidered. In turn, it will allow the development of new multi-signature solutions.
This upgrade may complement the implementation of MimbleWimble protocol into the Litecoin (LTC) network. It will be used to obfuscate the transaction data and therefore will upgrade the level of confidentiality in the blockchain.
Will Litecoin (LTC) soft-fork in 2020? Tell us in the Comments!