Monero (XMR) is one of the mainstream cryptocurrencies which provides complete anonymity when it comes to cryptocurrency transactions. The ring based signature ensures that even the authorities, as well as the blockchain experts, are not able to detect the transactions. In fact, it has borne the brunt of this feature as well. Many cryptocurrency exchanges have actually delisted it because of completely anonymous nature. More and more cryptocurrency exchanges are moving towards transparent cryptocurrencies. However, it seems like there is indeed a demand for anonymous cryptocurrency. It seems like Litecoin (LTC) might want to take on Monero (XMR) when it comes to fungibility.
Is Litecoin (LTC) planning to take on Monero (XMR)?
At the same point in time, Charlie Lee was clear that the functionality will be added to Litecoin (LTC) through a soft fork. It remains to be seen whether such a soft fork goes through or not. He was also quick to point out that it can be as early as 2019 itself. It clearly indicates that the decision is not an impulse. He has thought over the decision and plans to introduce the soft fork to introduce fungibility and anonymity. When that happens, the competition in that space will increase as well.
One thing which is for sure is that Litecoin (LTC) is surely stepping onto the turf of Monero (XMR). Things can get pretty interesting by the end of 2019.