Litecoin News Today – Top Headline for Litecoin LTC December 3rd, 2019

  • Litecoin implementation of MimbleWimble in progress
  • Litecoin foundation to fund MimbleWimble project
  • CoinJoin – Unified interface for Speed and Privacy

Litecoin has always been in the news for not getting much developer attention. This is far from the truth as Litecoin is in line to receive MimbleWimble support soon. A few days ago, a new developer update on MimbleWimble and Litecoin was announced. All of the costs linked with exploring this venture will be handled by the Litecoin foundation.

As stated by the foundation, there is a lot of research and development linked with switching this technology to this altcoin. Currently, there are two different Litecoin development proposals filed on MimbleWimble. LIP-0002 and LIP-0003 are both aimed at bringing this technology into the LTC network via an appropriate channel.

Litecoin (LTC) Price Today – LTC / USD

NamePrice
litecoin
Litecoin
$40.28

Shortly after a discussion on the vulnerability of MimbleWimble, the lead developer of Grin, David Burkett revealed some incredible details that bring MimbleWimble to Litecoin. Burkett further stated that the Litecoin implementation is in progress, it seems like the release is close.

Litecoin Foundation to fund MimbleWimble project

Recently, the developer declared that the Litecoin Foundation has decided to fund his efforts at executing the MW extension block. Hence, we can conclude that Litecoin’s protocol governance is dedicated to executing its new privacy protocol.

Taking to his Twitter page to announce this, @DavidBurkett38 stated that, “I’ll be posting monthly status updates detailing progress on the LTC MW EB (YAY acronyms). This is geared toward those interested in LTC development, but will also talk a lot about Grin++ changes, so it may be interesting to Grinners as well.”

Openly condemned for the lack of secrecy in MimbleWimble, the developers have now made their technology work with TOR. MW necessitates relating with the receiver to conclude a transaction collaboratively. By using TOR for that communication, the protocol can use familiar-looking addresses, an easier set-up, and enhanced privacy.

CoinJoin – Unified interface for Speed and Privacy

Mr. Burkett also reevaluated some features of the distribution of the transaction in Litecoin’s mainnet. To increase speed without forgoing privacy, every MimbleWimble transaction can now be pre-broadcasted to the CoinJoin server. As a result, users in some cases can avoid latency and transaction rejections.

As one more step to its release, Mr. Burkett re-designed the Grin++ codebase in a way that permits LTC to recycle Grin++ with minimal modifications. Therefore, the execution of MimbleWimble into Litecoin will have a unified design. MimbleWimble protocol is a kind of side-chain extension that can be used for the supreme level of privacy in some major blockchains.

Ufuoma Ogono is a cryptocurrency writer with over 3 years experience in the cryptocurrency industry. She dedicates her time to sharing valuable information to members of the cryptocurrency community.

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