Litecoin founder Charlie Lee is detailing two key upgrades coming soon to the 13th largest cryptocurrency.
In an interview with crypto analyst Scott Melker, Lee highlights why Litecoin’s upcoming update, which will add more fungibility and privacy to the digital token, is crucial to sound money principles.
“Fungibility is something that is missing, or, not as good in Bitcoin and Litecoin today…In terms of properties of good sound money, BTC and LTC have everything except fungibility.”
By fungibility, Lee means that every coin is the same as every other coin. Fungibility allows users to interchange goods or assets with another good or asset of the same type because they are identical and have equal value.
Even though one Bitcoin can be traded for another Bitcoin, with both having equal value, blockchain transactions inherently provide additional information. For example, one specific Bitcoin may be held in a wallet that is worth millions while another Bitcoin may be held in