Ethereum lacks immutability feature: Litecoin founder Charlie Lee

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September 11, 2018 by
Ethereum lacks immutability feature: Litecoin founder Charlie Lee

Litecoin [LTC] founder Charlie Lee lately shared his sights on the basic value of cryptocurrencies at the Blockchain Cruise Meeting. He discussed the top two cryptos by market cap– Bitcoin [BTC] as well as Ethereum [ETH]– together with his Litecoin task.

Lee pointed out that Ethereum lacks the immutability attribute that is present in both Litecoin as well as Bitcoin. This puts the ‘smart agreement’ project at an unfavorable setting as deals can be changed in future, BitcoinExchangeGuide reported.

Nonetheless, it is to be kept in mind Litecoin and Bitcoin deals could also be reversed, yet at a very expensive margin. The costs differ substantially from each other– for Litecoin, it is much more pricey compared to Bitcoin. Lee pointed out that Bitcoin is a better option for large deals while Litecoin is better for smaller purchases.

He is of the sight that the ETH job is extremely ‘safety and security drivened’ and censorship-resistant. “It’s tough to see particular transactions however the trouble with Ethereum is, we have actually currently seen it, we have actually currently shown as well as verified that purchases on Ethereum is not unalterable for the majority of instances it is,” he specified.

To support his point, he provided the example of Ethereum Standard [ETC] fork or the DAO hack that noted the split of the Ethereum blockchain. This was done by the area as well as developers to stop hackers from taking tokens.

Charlie Lee added, “It sets a bad criterion that federal governments can approach the structures of designers and also encourage them that this transaction misbehaves since it’s sending out countless dollars to a terrorist group. So, no person likes terrorists but also for properties of audio cash is necessary that deals are unalterable.”

Currently, Ethereum cost is gliding a lot more compared to its peers. At the time of writing, ETH was trading at $194, down by 1.84 percent versus the U.S. dollar.

shekar

A mechanical engineer turned journalist, Shekar takes a keen interest in the study and analysis of cryptocurrencies and blockchain strategy. With the cryptocurrency world blooming in the recent days, he finds great interest in monitoring their growth and gathering every possible piece of information about them. He works as a crypto-journalist for the website bcfocus.

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