Litecoin Private (LTCP) is a future fork that allows for private transactions using zkSNARKs and smart contract capabilities.
Features of Litecoin Private
Litecoin Private has a 5 second block time and the transaction speed is in most scenarios under 5 seconds. Compared to Litecoin about 50 times faster. Bitcoin even 200 times faster. With zkSNARKs as technology, LTCP is able to provide private transactions. The algorithm is used among others in the privacy coin ZClassic (ZCL).
Using a significantly increased block size makes Litecoin Private more scalable than Bitcoin. LTCP is capable of doing up to 300 transactions per second. Also smart contracts are foreseen.
The Litecoin Private website currently states that the whitepaper is work in progress.
Litecoin Private is currently using ERC20 tokens as futures for LTCP. With two airdrops of 21 million LTCP (ERC20) and the forking of Litecoin at a latter date, there will be a merger of the both. This will result in 2 x 21 million LTCP (ERC20) + 84 million forked LTC coins, a total supply of 125 million LTCP.
The upcoming month will show how Litecoin Private will develop and gain traction within the crypto community.