The foundation Litecoin announced the imminent launch of its privacy-focused Mimblewimble update. This integration is part of the Mimblewimble Extension Block (MWEB). It’s the culmination of years of work by development manager David Burkett.
MimbleWimble was originally introduced in 2019, as an improvement to the Litecoin network. The testnet was launched in October 2020. Now that the work has paid off, Mr Burkett was quick to extol the benefits.
“MWEB is a crucial step in the evolution of Litecoin,” Burkett emphasized in an official statement released on January 31. “The optional privacy provided by MWEB offers the user important and necessary protections for everyday purchases, salaries or even buying a house”.
Many people mistakenly think that cryptocurrencies are anonymous. However, crypto enthusiasts know that anyone can freely view on-chain data from networks like Bitcoin and Ethereum.
Mimblewimble is a privacy protection protocol created by a developer known as “Tom Elvis Judesor”, inspired by a character from the Harry Potter saga. It also encompasses several technologies and is based on concepts created by Gregory Maxwell, Adam Back and Andrew Poelstra.
A true effort of the Litecoin community
Charlie Lee, the co-founder of Litecoin, used the launch of Mimblewimble to thank the key players who have been instrumental in bringing privacy features to the network.
“The planning, development and now activation of MWEB is a true community effort, beginning with several years of donations from Litecoin supporters around the world, and then with the dedication and meticulousness of David Burkett who led the project,” Mr. Lee said. “It also involved key contributors like Andrew Yang, who helped with the original Litecoin improvement proposal, essential code reviews from Hector Chu, and the countless others who audited, advised, and ran testnet nodes. . This project is a true testament to the resilience and continued growth of the Litecoin community.”
In addition, Mr. Lee pointed out that even though MMWE has already been released, users may still have to wait a while to enjoy the privacy features. This is because miners need to upgrade to the updated version for the network features to work.
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