- Litecoin has launched two big updates
- Litecoin now supports non-interactive transactions.
- Litecoin price is forming a reversal pattern.
Litecoin news today – according to reports, Litecoin’s MimbleWimble initiative’s chief developer, David Burkett, has revealed that he has discovered a way to activate “non-interactive transactions.” Burkett, the Grin++ developer and chief developer of the MimbleWimble protocol for Litecoin, recently shared a recent update on the development process for the protocol with the Litecoin community. The MimbleWimble initiative is a protocol designed by Litecoin to ensure that the network gets more fungibility and privacy. Now, Burkett has found a way to activate non-interactive transactions in MimbleWimble.
Burkett Called the Discovery the Biggest News of the Year
Burkett called his discovery the biggest news from January. The biggest difficulty when it comes to using MW is communication between the sender and receiver. This requires the receiver to be online whenever he/she is sending it. Burkett said his solution eliminates that requirement and improves user-friendliness. His solution reduces long-term maintenance needs and improves compatibility. For February, the development of more implementation rules for LTC’s Extension Blocks is another top priority list. Firstly, several tests have to be carried out to verify the entire validation. After these tests have been completed, Burkett will shift focus to the API for Litecoin’s EBs so that his team can be prepared to implement data migration to the libmw-core.
Litecoin (LTC) Price Today – LTC / USD
Many have praised the MimbleWimble protocol for the level of development it will bring to protecting user privacy. It has, however, been criticized. The reason is that it will turn Litecoin into a Privacy Coin. Such a cryptocurrency, just like Monero, Zcash and Dash have come under fire recently for been privacy coins.
Litecoin Forming Key Reversal Pattern
According to Litecoin technical analyst, Rekt Capital, the Litecoin chart against the number one coin by market cap, Bitcoin is signaling a macro reversal. The macro reversal pattern is forming after LTC recently crashed against Bitcoin in 2019. This means that the coin has failed to keep pace with the dominant Bitcoin. Indeed, a reversal is now forming. In the last month, the Bitcoin price has posted 35% gains. However, Litecoin has done better after it surged by 76% in the same period. This movement has allowed the price of Litecoin against Bitcoin (LTC/BTC pair) to surge higher.
Rekt Capital’s analysis indicates that if LTC/BTC manages to hold above 0.0075 BTC, the top of the blue range on the chart below, every week, it would bring the asset closer to “confirming a new Market Cycle.”