With MimbleWimble, Litecoin will become more secure, faster, and better overall. The proposal for MimbleWimble came in 2016. It was meant to fill all the privacy lapses in the Bitcoin protocol.
So, MimbleWimble was meant to make Litecoin a better alternative to Bitcoin. The proposal was amended by the Litecoin Development team and the new one was going to ensure confidentiality. Charlie Lee had this to say;
“Fungibility is the only property of sound money that is missing from Bitcoin Litecoin. Now that the scaling debate is behind us, the next battleground will be on fungibility and privacy. I am now focused on making Litecoin more fungible by adding Confidential Transactions.”
David Burkett, one of the lead developers in the MimbleWimble project, said things are getting better;
“I was able to wrap up the Initial State Download, in particular the validation of the MWSTATE messages. There are still several ways where malicious peers can use these new messages to DoS nodes. I’m not yet guarding against all of those attacks, but there will be plenty of time to focus on that after the testnet is released.”
Max writes about blockchain projects and regulation with a special focus on United States and China. He joined Smarterum after years of writing for various media outlets.
- Latest Reports Show that the Litecoin MimbleWimble is Still on Track
- MimbleWimble Might be the Game Changer Litecoin Needs to Boost its Relevance
With the way things have been going for Litecoin over the last few weeks, Litecoin could use a win. Despite the current price decline of the LTC token, Litecoin is still doing well on the scalability and privacy front. Thanks to the smooth and efficient implementation of MimbleWimble, the Litecoin Network is primed to be better than ever. The primary developers on the network have said that the implementation of MimbleWimble has been doing well. There are no delays and everything is going to happen as planned. The testnet launch has been scheduled to take place later in the month as shown in the press release.
MimbleWimble is Set to Launch Next Month
At the time of writing, the Litecoin LTC was trading at $48.35. This means that it is down by 0.89% against the USD and down by 0.01% against Bitcoin BTC. The trading volume over a 24 hour period was $2,582,248,226 and the market capitalization was $3,161,619,631.
The fall in the price of Litecoin is discouraging. Just a couple of weeks ago, it was trading well above the $60 level. Bitcoin BTC isn’t making things easier for the altcoin market.
The top cryptocurrency per market capitalization has been falling against the USD since it lost the support at $10,500. The token is now struggling to hold the support at $10,240.51. It is now down by 0.27% against the USD with a trading volume of $45,992,201,634 and a market capitalization of $189,257,574,883.
