Home Crypto Dev Digest CRYPTO DEV DIGEST: Litecoin All Marketing No Development?, Dev Congress, Schnorr Testing

CRYPTO DEV DIGEST: Litecoin All Marketing No Development?, Dev Congress, Schnorr Testing

TL;DR: Crypto Dev Digest (CDD) is a regular column, documenting cryptocurrency development. We highlight the projects and persons working under the hood to bring peer-to-peer, electronic cash to the world. This installment we ask: is Litecoin all marketing hype? Alleged Litecoin Foundation chats reveal the project is basically breast implants and tanning oil; Bitcoin Cash community calls for a developer congress, and results of a successful preliminary test to bring Schnorr signatures to OP_CHECKMULTISIG was conducted recently.

Litecoin All Marketing Hype?

To read a Redditor tell it, The Litecoin Foundation is covering up the coin’s lack of development and transparency. Evidence was forwarded from an allegedly rather candid Telegram chat, where key members, including founder Charlie Lee himself, are frank about their deemphasis on development progress.

Litecoin All Marketing

Apparently what is keeping Litecoin alive is a very active marketing campaign along with a strategic alliance with the BTC maximalist community: both seem less inclined toward moving forward with a decentralized, permissionless, peer-to-peer digital cash, and are more concerned with presenting Litecoin as a head fake to distract from scaling criticism levied at BTC. Who cares if BTC is digital gold, slow and with high fees. Use Litecoin. Those have been mantras for a while now, and it’s becoming clearer they aren’t accidents.

Litecoin All Marketing

Assuming the Telegram chat forwards are legitimate and in-context, it does indeed appear there is a Litecoin Foundation public facade masking real concern behind closed doors. Lee, “Franklyn,” a Founding Director, and Community Manager Ilir Gashi are especially interesting reading.

Litecoin All Marketing

“I was extremely disappointed to discover that no progress had been made on [Confedential Transactions] since the announcement [by Lee], especially when I stand on stage telling everyone it’s happening and we are actively working on it,” Franklyn disclosed.

Lee confessed, “The honest truth is that no one is interested in working on Litecoin protocol development work. At least no one technically competent. You can’t just throw money at this problem. This is true for Litecoin since the beginning. It has only been me, Warren, and Thrasher,” at least one of whom has moved to BTC dev company, Blockstream.

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DISCLOSURE: The author holds cryptocurrency as part of his financial portfolio, including BCH. 

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