Litecoin is one of the leading cryptocurrencies in the market. Its blockchain has been working consistently with 0-downtime since its inception back in 2011. In order to continue to grow Litecoin globally, we need to solve the very important issue of fungibility. At the moment, Litecoin transactions are made completely public. This means that certain types of transactional information can be deducted from the Litecoin ledger to track a person’s purchases or wealth.
If Litecoin is going to be adopted by mainstream users and businesses, we need to provide financial privacy. For example, fungibility helps protect users from having their transactions or balances readily accessible on the blockchain for criminals to identify attractive targets. The Litecoin Foundation is setting up a dedicated development fund which will go towards sponsoring David Burkett, who is a developer for Grin++, to work on implementing the Extension Block and MimbleWimble code for Litecoin so that we address this issue of fungibility. David provides a monthly progress report which you can read on litecointalk.io
In addition, The Litecoin Foundation helps to support adoption and align key partnerships to give Litecoin users financial tools to help with growth of the currency. For more information please visit us at litecoin.net