Litecoin (LTC) May Soft-Fork 'Likely at a Similar Time' as Bitcoin (BTC), Dev Says

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Mon, 01/20/2020 - 14:52
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    Shortly after the 2020 soft-fork prediction for Bitcoin (BTC) made by Lucas Nuzzi, one redditor asked the Litecoin community about its plans on 'Shnorr-Taproot' upgrade.

Cover image via 123rf.com
Contents

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.

Litecoin Developer Says, The Schnorr Upgrade May Follow in 2020
Image by: https://www.reddit.com/r/litecoin/comments/eq91rb/when_taproot_and_schnorr_for_litecoin_plan_to

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.

Must Read
Bitcoin (BTC) Soft-Fork in 2020 Predicted By Analyst: Here's Why - READ MORE

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.

Must Read
Litecoin's MimbleWimble Implementation Reaches Crucial Milestone: Details - READ MORE

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!

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About the author

 Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockhain. Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

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