Charlie Lee, the Founder and the Managing Director of the Litecoin Foundation, mentioned in an interview that Monero [XMR] is one of the projects that interest him. He stated that the coin has two significant features – privacy and fungibility. Furthermore, he believes that the mentioned features are missing from Bitcoin [BTC] and Litecoin [LTC] and also emphasized its importance. In his words:
“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.”
This is not the first time Charlie Lee has shown an inclination towards privacy features in the cryptocurrency ecosystem. In the month of August, he conducted a public poll on which privacy protocol can be integrated into Litecoin. The three options he gave to his Twitter followers were Confidential Transactions, Mimble-Wimble, ZK-Snarks/ZK-Starks.
It was evident that the Litecoin community was interested in seeing the cryptocurrency carry a privacy feature since the poll attracted much attention from everywhere. The highest percentage of votes [45%] was won by Confidential Transactions, followed by ZK-Snarks with 21% of votes. Mimble-Wimble got the least votes of 12% whereas 22% of votes suggested adding no privacy feature onto the network.
Under Monero developments, the community recently put up a fight against the frequently occurring crypto-jacking instances happening to utilize the Monero cryptocurrency. These incidences have been taking place via Monero’s mining software called Coinhive. The team put forth a statement that it will make efforts in reducing cybercrimes related to the ecosystem.
For months, the privacy coin was in the news for being illegally mined. Cybercriminals have been reported to hack systems in bulk and secretly run Coinhive in the background of website portals. The malware activity went so far that not even big web portals, such as the government institutions and university portals were spared.