According to foreign media reports on August 12, in response to people's doubts about the development of Litecoin in 19 years, Knight of the Litecoin Charlie Lee responded in a series of tweets issued on August 11:
Recently, there have been many skeptical and uncertain voices about Litecoin's no code submission in 2019. When you open the GitHub of Litecoin, you will find that we have not made any progress in 2019. In fact, Litecoin has been developing. We can look at two aspects to see why this illusion occurs.
(Source: pixabay )
- Wright Silver's war - written before the market halved
- Market price is the consensus | 2019 Lai Special Zone blockchain technology seminar summit report
- Li Qiwei: The most marketing programmer in the field of encryption
- The Litecoin has doubled five times in half a year, halving the countdown. Is the community a "magic bullet" for 8 years?
- The Litecoin has not been halved, but the big ones are suspected of cashing out. The bitcoin bull market is over?
- “I created the Litecoin mainly for fun, and Nakamoto may have actually passed away.” Liteco coin founder Charlie Lee exploded.
The first reason, Charlie Lee said, was that most of the updates applied to Litecoin were originally developed for Bitcoin, so each update has only the original development date and no associated code. He said:
This means that although we completed and released the latest Litecoin Core client in May 2019, if you look at GitHub, you will find that most of the work is done in 18 years. Therefore, it feels like the developers of Litecoin have taken a year off.
The second reason is that Litecoin developers don't handle the project's master branch on GitHub. Adrian Gallagher, the main developer of Litecoin, has been actively developing the 0.18.1 version of Litecoin Core on a personal branch. He also stated:
In the eight-year history of Litecoin, only a few core developers have been involved in the development of Litecoin Core.
Previously, Charlie Lee told Franklyn Richards, director of the Litecoin Foundation:
To be honest, no one is interested in the development of the agreement for Litecoin.
Richards said at the beginning of the 19th year that Charlie Lee "via Twitter announced that the development team of Wrightcoin plans to add Confidential Transactions (referred to as CT, confidential transaction) to the full node implementation version at some point in 2019."
However, after this, Litecoin had almost no work on the development of the agreement, which led to a confrontation between Richards and Charlie Lee. Richard said:
I have found that Liteco has not made any progress on CT since the announcement of this news.
Charlie Lee said that no one can do this:
Only me, Warren and Thrasher can do it.
Warren arrived at Blockstream, Thrasher left the job, what about you?
Charlie Lee gave the answer to this question on Twitter, saying that he has been busy with such things as "film festival, taekwondo, concert, Miami Dolphins, etc.!"
Let us explain the words, we can't deceive people.
Charlie Lee responded:
Sorry, I don't care if people are disappointed that the Litecoin has not made progress.
In December 2017, Charlie Lee sold all his Litecoin at a high price, and he became a millionaire.
According to Trustnodes.com, he hasn't bought the sale of Litecoin. Charlie Lee said he is more concerned with the marketing of Litecoin than programming. He said:
I made a mistake on Mimble Wimble and CT. I apologize for this. However, it is unfair to me to say that I am lying. Except for the first tweet, the other I did not say in 2019. I just said that the development of Litecoin will be slow, but once there is progress, I will give the latest news.
Perhaps Charlie Lee's "slow" is probably "in place", and it is unclear whether Charilie Lee has the ability to implement confidential transactions, a complex way to increase privacy.
Charlie Lee is usually just copying and pasting the code of Bitcoin developers, and the developers of these Litecoins don't actually write too much code for Bitcoin, because many Bitcoin code is still in the so-called pre-implementation phase.
For example, Bit Machine is similar to the Ethereum Intelligent Virtual Machine (EVM), which brings smart contracts to Bitcoin, but there is still a long way to go before it can be incorporated into Bitcoin.
Charlie Lee usually does nothing, such as copy and paste, after the code is completely completed. Perhaps his most sincere answer is that there is nothing that can be copied and pasted, but you can rely on the coin to get rich (get dolphin).
In any case, the price of Litecoin has risen by about 10% in the past two days, and has fallen nearly half from $145 since June.
The Litecoin, one of the longest-lived replicas of Bitcoin, has attracted a significant mining community, especially in China. The Litecoin has therefore remained somewhat relevant to Bitcoin, in part because it differs from Bitcoin by only one letter (LTC and BTC).
In China in 2017, there were various pyramid schemes and Ponzi schemes around Litecoin, which contributed to the rise in the price of Litecoin.
Therefore, Litecoin players may not be too concerned about the development of Litecoin because its use case is a substitute for Bitcoin.
Litecoin has been competing with BCH for the fourth place in the total market value of cryptocurrencies, and the BCH community may be confused by the fact that LTC can maintain such high value because it has almost no code submissions in about nine months.