Cardano and Litecoin founders to discuss cross-chain collaboration
The CEO of IOHK, Charles Hoskinson, expressed his desire to work with Charlie Lee and Litecoin via Twitter yesterday. As the inventor of Cardano noted, a cross-blockchain project could be realized to enable communication between the two cryptocurrencies. Hoskinson wrote via Twitter:@SatoshiLite it would be great to do something together. I love the idea of testing cross chain communication between Litecoin and Cardano. We got a lot of ideas and I’m sure you guys do too.
The inventor of Litecoin, Charlie Lee, also known by the synonym “SatoshiLite”, was enthusiastic about the idea and wrote “Sure” and shared a picture with the text “Call my people”.
Asked by Hoskinson who he could contact, Lee wrote that David Schwartz, the project director of the Litecoin Foundation would be happy to be available for an exchange of ideas.
The supporters of both cryptos have received the news with enthusiasm. However, the details of this potential collaboration are still unknown. It will probably focus on connecting the blockchains of both cryptos through the atomic swap technology.
This collaboration could also include the MimbleWimble technology, which is currently being integrated into the Litecoin blockchain in order to increase data privacy significantly.
Cardano combines “pioneering technologies to provide unparalleled security and sustainability to decentralized applications, systems, and societies,” its site notes.
The project has seen significant developments in the past few months, such as its work on Shelley and the native Daedalus wallet (among others.)
Over 200 stake pools are already active on the Shelley testnet, as CryptoSlate reported last month.
Litecoin, on the other hand, spun off from Bitcoin in 2011; and has been long called the “digital silver.” It was technically very similar to Bitcoin but featured a decreased block generation time, a modified GUI, and a different hashing algorithm.
The project was first to adopt the Segregated Witness technology among the top-5 cryptocurrencies in 2018.