BTC/USD
 
ETH/USD
 
XRP/USD
 
BCH/USD
 
EOS/USD
 

Charlie Lee Says He is Interested in Monero

· 13 Oct 2018 in Cryptocurrency News
Carlos is an international relations' analyst specializing in cryptocurrencies and blockchain technology. Since 2017, Carlos has written extensively for UseTheBitcoin and other leading cryptocurrency sites; with over 2,000 articles published.

Charlie Lee created Litecoin (LTC) back in 2011 and has been a supporter of both Bitcoin (BTC) and his own virtual currency. At the beginning of the year, he generated controversy after saying that he sold all his LTC. Now he seems to be interested in another major crypto project: Monero.

Charlie Lee Interested in Monero’s Project

There are different crypto and blockchain projects in the market. Some cryptocurrencies such as Litecoin were created to transact funds fast and easily. Monero, instead, was created in order to provide privacy to cryptocurrency users.

Charlie Lee stated that Monero has several interesting features such as privacy and fungibility. At the same time, he said that Bitcoin and Litecoin lack from these two features.

He said about it:

“Another project that I’m interested in is Monero: I think a bit of privacy and fungibility is something that’s missing from Bitcoin and Litecoin, and it’s very much needed.”

In the past, Lee showed that he was very interested in different privacy projects and features. Back in January, he wrote a tweet in which he said that Monero and Litecoin should work together.

Later in August, Lee conducted a poll also on Twitter in which he asked users which he gave users three options: Confidential Transactions, Mimble-Wimble, ZK-Snarks/ZK-Starks. Of course, there was a clear interest from Litecoin users to see anonymity features implemented on Litecoin.

The results were the following: 45% of users voted for Confidential Transactions, 21% of users voted for ZK-Snarks and 12% decided to select the third option, Mimble-Wimble. 22% of voters said that they do not want any privacy features on the Litecoin network.

In addition to it, in May, Charlie Lee made another poll in which he asked his followers which technology users would like to see after SegWit implementation. The proposals were Lightning Network (77%), MAST (4%), Confidential Transactions (15%) and Schnorr Signatures (4%).

Monero is currently focused on tackling down crypto-jacking attacks in the crypto space. Due to the fast expansion experienced by the crypto space, the number of crypto-jacking attacks has increased exponentially. Attackers usually mine Monero coins using a software that drains CPU from victims.

The team behind Monero explained that they will be doing everything as possible to stop them.

 

Carlos is an international relations’ analyst specializing in cryptocurrencies and blockchain technology. Since 2017, Carlos has written extensively for UseTheBitcoin and other leading cryptocurrency sites; with over 2,000 articles published.

The Bear Market Report
Our Bear Market guide not only helps you survive this crypto winter, but also guides you through the foundation you'll need to thrive in the next bull run.