Litecoin News Today – Litecoin and Cardano Plan Cross-chain Communication as MimbleWimble Update is Scheduled – August 5th, 2020 

  • Litecoin plans to Launch Cross-chain Communication With Cardano 
  • Litecoin Foundation Sets Date for the Launch MimbleWimble Update 

Litecoin News Today – The Litecoin development team has been working on the MimbleWimble update for a while now and it is finally ready to go live. According to David Burkett, a Litecoin core developer, MimbleWimble will be implemented on the Litecoin network next month. In an extensive post, he said that they have made significant progress over time and he gave details about their priorities and progress so far. At the same time, Litecoin may be working on a cross-chain communication system with the Cardano blockchain.

Litecoin News Today – MimbleWimble is Ready to Go, LTC Resumes Bull Rally

Litecoin started working on the MimbleWimble to make the blockchain more privacy-focused and improve the fungibility. Since the project started in 2019, it has been one of the major projects on the Litecoin network. When the project started, Charlie Lee proposed a crowdfunding initiative for the MimbleWimble project. MimbleWimble will improve scalability on the Litecoin blockchain and people will be able to verify transactions instantly after the initial block download of MimbleWimble. Burkett explained;

“We use a different structure to commit to the transactions. Each mimblewimble header commits to the root of 2 different Merkle Mountain Ranges(MMRs). One represents all historical kernels up to that block, and the other represents all historical outputs/coins. Merkle Mountain Ranges are a different sort of tree that supports “pruning”, which means we can verify the root of the structure without knowing all of its members (called leaves)”

He is saying that the initial state download is a more ideal mechanism for verification than Bitcoin’s verification mechanism that can’t work until all the blocks are downloaded from the blockchain. Burkett said that their focus in August will be on cleaning up the code and completing the MWSTATE message processor he continued;

“The plan was to spend August focusing on reorg logic, but I’m going to delay that until September. Instead, I’m just going to focus on wrapping up the MWSTATE message processing, and focus on cleaning up the code, adding more tests, and maybe even some documentation if I’m feeling wild (…) hopefully allowing for a smooth first testnet launch at the end of September.”

Litecoin (LTC) Price Today – LTC / USD

NamePrice
litecoin
Litecoin
$74.61

Meanwhile, there are talks about interchain communication between the Litecoin and Cardano blockchains. A while ago, Cardano’s Charles Hoskinson said that he is open to a collaboration with Litecoin. While nothing has been confirmed yet, a partnership between these two great networks will be a game-changer in the blockchain industry. Cross-chain communication will allow the Litecoin blockchain to interact with the Cardano blockchain as if both of them have the same code base.

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.

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