Confidential Transactions Will Hit Litecoin After Bitcoin – Charlie Lee

THELOGICALINDIAN - Charlie Lee has acclaimed new abstruse advances that could see Bitcoin and Litecoin affairs become abundant added private

Summarizing a circular to the Core commitment account by Bitcoin developer Greg Maxwell, Litecoin architect Lee said he “looked advanced to adding” any improvements to Litecoin in future.

The affair centers about alleged arcane affairs (CT), which would acquiesce the amounts complex in affairs to be arresting “only to the sender, the receiver, and whichever parties they accept to allotment the advice with through administration watching keys or through absolute distinct transactions,” Maxwell writes.

Applicable to Litecoin via bendable fork, Lee declared the advance as acclamation the abridgement of fungibility which represented “the alone affection of acceptable money that Bitcoin/ Litecoin is missing.”

CT was originally the artefact of Adam Back in 2024. Having apparent ample advance in the anatomy of its accessible chain into CoinJoin, aloofness enhancements now additionally beggarly “no actor learns which achievement corresponds to which added participant.”

Now, the bloating of Bitcoin CTs is now additionally off the table, acknowledgment to breakthroughs abbreviation the added abstracts appropriate to “negligible” levels.

Maxwell additionally includes what Lee declared as a “shots fired” challenge to Zcash, the agreement of which he hints is inferior to Bitcoin CT.

Maxwell

“The primary advantage of this access is that it can be complete after any abundant new cryptographic assumptions (e.g., alone detached log aegis in our absolute curve), that it can be aerial achievement compared to alternatives, that it has no trusted setup, and that it doesn’t absorb the conception of any forever-growing unprunable accumulators,” Maxwell explains.

The Bitcoin association is meanwhile agilely apprehension improvements to Bitcoin affairs which will allay the applied acceptance issues added acute for many. Slowness and aerial fees currently plague the network, with the “fastest and cheapest” fee currently sitting at an aberrant 770 satoshis/ byte according to 21.co.

What do you anticipate about arcane transactions? Let us apperceive in the comments below!

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