Litecoin has long been a stalwart of the crypto sphere. It has been around since 2011 when it forked from the original Bitcoin chain. Alongside its big brother it has steadily grown as a faster and \u2018lighter\u2019 alternative. Over the past 24 hours however Litecoin has literally lifted off with a 30% surge propelling it up the crypto market cap charts.<\/p>\n
The entire crypto market has enjoyed a rare pump overnight as $10 billion poured back into digital assets<\/a> following a week of losses. That is not to say that the bear market is over, far from it as we have seen this action before and the bears may soon regain control. Technical indicators are still signaling further losses for Bitcoin<\/a> and its brethren over the coming months.<\/p>\n The top performing altcoin during this crypto bounce has been Litecoin. The solid performance is fundamental as software company Beam recently announced<\/a> a partnership with the Litecoin Foundation. The collaboration will explore the use of Litecoin\u2019s Mimblewimble protocol which derives its name from the Harry Potter series. It is a spell that prevents people spilling secrets so was aptly named as its purpose for crypto is to improve privacy, scalability and fungibility. The Beam medium post added;<\/p>\n \u201cWe have started exploration towards adding privacy and fungibility to Litecoin by allowing on-chain conversion of regular LTC into a Mimblewimble variant of LTC and vice versa. Upon such conversion, it will be possible to transact with Mimblewimble LTC in complete confidentiality,\u201d<\/p><\/blockquote>\n A fork would be required if Litecoin was to adopt the protocol which allows users to encrypt transaction data. The fungibility aspect would allow equivalent tokens to be interchangeable with no losses. Charlie Lee posted this tweet last month on the need for such;<\/p>\n Fungibility is the only property of sound money that is missing from Bitcoin & Litecoin. Now that the scaling debate is behind us, the next battleground will be on fungibility and privacy.<\/p>\n I am now focused on making Litecoin more fungible by adding Confidential Transactions. \ud83d\ude80<\/p>\n — Charlie Lee \u24c2\ufe0f\ud83d\udd78\ufe0f (@SatoshiLite) January 28, 2019<\/a><\/p><\/blockquote>\n\n