- Senior developer on MimbleWimble gave an update on the protocol
- David Burkett expects MimbleWimble Testnet to launch mid-September
- Litecoin’s price is trading sideways at press time
Litecoin news today – The senior developer on Litecoin’s MimbleWimble project, David Burkett, has given an update on how far the project has progressed in the last 30 days. Burkett claims the stage is now set for the protocol to undergo a mid-September launch for its Testnet. Burkett issued the update via a tweet. In the tweet, the Litecoin Foundation highlighted Burkett’s monthly progress on MimbleWimble. The protocol is designed to introduce private transactions on Litecoin’s network. Experts expect this development to reignite investor interest in the digital asset (LTC). A mid-September testnet launch for the protocol makes sense.
Litecoin News Today: Burkett Listed Litecoin’s Tasks in Terms of Development Ahead of Q3 of 2020
Burkett provided the breakdown of several tasks scheduled by Litecoin ahead for quarter three of 2020. These developments will pave the way for a mid-September MimbleWimble testnet launch. The high-level plans for the rest of this year remain the same according to Burkett. Here is the roaster:
- July – Initial Block Download
- August – Chain reorg logic
- September – Activation logic and MimbleWimble testnet launch
In January 2019, Litecoin’s creator, Charlie Lee, said the focus of the project was geared towards making its token (LTC) more fungible. This will be done by adding Confidential transactions, Lee said. The transactions hide the funds being transacted on the network but not the place where the tokens are sent. Despite not being 100% private, the addition of confidential transactions will likely attract fresh users. People who prefer to hide the value of their transactions. It will likely drive the demand/usage of LTC and positively impact Litecoin in the digital asset market.
Litecoin (LTC) Price Today – LTC / USD
The Possible Market Reaction to a Mid-September Testnet Launch for MimbleWimble
With the progress update speculating a Testnet launch of MimbleWimble in mid-September, some LTC traders and investors may be already strategizing how to capitalize on the impact of the testnet launch by accumulating the coin ahead of the event. A successful Testnet launch would pave the way for a Mainnet launch. This move would further boost LTC’s appeal in the crypto market. At press time, the price of Litecoin has been trading sideways. The current price movement places LTC at $39 which is a support and below the resistance at $50. This price action could be a signal for investors to start accumulating Litecoin (as indicated in the significant rise in new non-zero accounts on the network). Finally, the recent launch of the Litecoin Core Version 0.18.1 is proof that development still an integral part of the Litecoin project. When you consider this and the MimbleWimble progress update, you’ll agree that talks of FUD that Litecoin was dead were uncalled for.