Litecoin News Today – Top Headline for Litecoin LTC, January 16th, 2020

  • BTC could utilize Litecoin’s Mimblewimble implementation in the future
  • Litecoin Price Analysis – Moderate price surge

The Litecoin community is anticipating the release of the Mimblewimble implementation. The community has given full support to the project, with the foundation hiring David Burkett, a Grin Developer to join the project. So far the projections on the project have been positive, the project, however, encountered a FUD period, with some members in the community alleging that it could influence the adoption of LTC.

The speculations sprung up when exchanges started de-listing cryptocurrencies over regulatory issues. However, this FUD was cleared on Charlie Lee Twitter page, who declared that the team worked jointing with other major cryptocurrency exchanges.

The implementation of Litecoin MimbleWimble was discussed in the recent episode of the Bad Crypto Podcast, where the Chief Litecoin Evangelist, John Kim, shared his views. Kim began his statement by explaining the privacy protocol, declaring that “Mimblewimble with extension block with opt-in is like a sidechain.”

Litecoin (LTC) Price Today – LTC / USD

NamePrice
litecoin
Litecoin
$73.47-2.43%

He went thus: “Litecoin on-chain transaction is like a car running on an open public highway but Litecoin Mimblewimble is like a car that can exit into a road that runs parallel with the public highway but it’s a tunnel, so it covered. So you can either go on the public highway or you can go into the tunnel where it’s covered and you can’t see anything.”

Stating further, he argued that Litecoin on the public blockchain is almost like a credit card. One where transactions could be trailed, while, with Litecoin Mimblewimble extension block, it would become “cash” a fungible cryptocurrency.

He stated: “Litecoin is not just a credit card payment now, it’s also cash when you use the extension block.” Kim also claimed that there were people in the Bitcoin community and other communities who wants privacy. According to Kim, the future of Litecoin will have people from the Bitcoin Community “use the Mimblewimble on Litecoin with an atomic swap.”

Commenting Further, Kim said:

“So, they can use their money in a private way. so I think it’s another plus for Litecoin going forward because Litecoin and Bitcoin are gonna be compatible with the Lightning Network. So, with atomic swap going they’re gonna be able to use privacy if they don’t want to reveal how many coins that have or want more privacy.”

Litecoin LTC News – Moderate Price Rise

Litecoin Price was up by 26.87% on the day, it was trading at $77.703, it was the largest 1-day percentage surge since January 15. The surge drove LTC’s market cap by 1.49%, which is about $3.686B of the overall cryptocurrency market cap. At its peak, LTC’s market cap was recorded at $14.099B. In the last 24-hours, LTC traded in the zone of $55.378 to $77.703.

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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