Over the weekend, news spread of a leaked chat between Charlie Lee and a colleague in which Lee supposedly admitted that the rumors that no development is happening in the Litecoin chain are true.
A Reddit user published a post containing Telegram messages between Lee, Litecoin Foundation Founding Director Franklyn, and marketer and community manager Ilir Gashi. Their conversations indicated that, essentially, almost nothing had been done on the planned upgrades for this year, including the development for the so-called “Confidential Transactions” that Lee announced on Twitter several months ago.
In case anyone thinks the LTC chat was fake, check out the Litecoin Telegram channel where someone asked Charlie about my video and he says it’s true. Then I get kicked out. pic.twitter.com/LPVbbYoRIm
— CryptosRUs (@CryptosR_Us) August 10, 2019
In the alleged leaked chat, Franklyn (assumed to be Franklyn Richards) expressed his disappointment “that no progress had been made on CT [confidential transactions] since the announcement.” To which Lee replied:
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.
Redditor u/CryptosRUs also posted a YouTube video in which he proves that Litecoin has been stagnant for a while—especially in terms of development.
Lee, as expected, slapped down what he claimed was FUD against Litecoin. On Twitter, the Litecoin founder dismissed rumors that the project has been abandoned, in an apparent bid to settle the nerves of cryptocurrency users, saying, “Recently there’s been a lot of FUD about Litecoin having no code commits in 2019.