After 2 years, Litecoin has finally launched the Mimblewimble upgrade
After 2 years of being in development, the Litecoin Foundation has finally completed the anticipated Mimblewimble upgrade, which will improve a number of features of the blockchain that is mainly aimed at increasing privacy. As a result, the users of the network can now use the Litecoin network to complete confidential transactions with great ease, retaining their privacy.
Litecoin Mimblewimble upgrade
The Mimblewimble upgrade came into the Litecoin network via the Mimblewimble Extension Block, also known as MWEB, which is the reason why network users can tap into the option for confidential transactions. Furthermore, the MWEB lead developer David Burkett said that the upgrade would transform LTC into crypto that can be used for daily transactions."Mimblewimble Extension Block upgrade will be included as part of the #Litecoin Core 0.21.2 release candidate, which also includes the security and privacy-enhancing Taproot upgrade," confirmed the Litecoin Foundation in a tweet.In another tweet, the Foundation revealed that "with MWEB as an opt-in feature, Litecoin will become the most fungible, cash-like cryptocurrency in the space - warranting its position as one of the most used digital payments instruments on the planet."
More privacy
The word Mimblewimble was a tongue-tying spell that was originally used in the renowned Harry Potter series, which has the power to literally tie the target's tongue to keep them from exposing information on a given subject. On the other hand, this upgrade does the same when it comes to the privacy of a user on the Litecoin network.However, it is also to be noted that privacy factors have attracted a lot of regulatory insight into the crypto industry. The government around the world are not supporting cryptocurrencies which conceal the identities of the person behind the transaction. This is because governments believe that such currencies can be used for terror financing or money laundering.
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