Litecoin introduces privacy in LTC transactions through Mimblewimble upgrade
The project team behind the Litecoin foundation successfully Introduced a new feature in the Litecoin blockchain to bring more privacy to the transactions.
Litecoin is a popular crypto asset in this Crypto industry, which is standing at 22nd rank by market cap. Litecoin is known as the light version of Bitcoin because it is based on almost identical nodes of Bitcoin, which is more efficient than Bitcoin. In 2019, Litecoin was a crypto trend and also in 2013 it was a trend but failed to show a significant pump in 2021.
The developers of the Litecoin team have been working on Litecoin for 2 years to introduce a high privacy option for transactions. Recently through the Mimblewimble upgrade, the team successfully introduced a portal for the Litecoin blockchain Network, to enable the users to opt for an option to achieve privacy in transactions.
The upgrade in the network was introduced by developers and led by Mimblewimble Extension Block (MWEB). David Burkett, the lead developer at MWEB, said that the latest upgrade introduces a better quality to the use cases of Litecoin for example in everyday transactions, paying employee salaries, and even purchasing real estate.
Mimblewimble is a decentralized protocol and this name came from the magic spell word from the Harry Potter movie. This protocol will allow to hide details of the transactions of users and also to enhance the usability of coins.
The last time launching of the first Mimblewimble testnet took place in October 2020 but later due to some lack of Community participation it resulted in more time consumption.
Few experts of this crypto industry claimed that this new upgrade is technically a better option but in actuality, it will result in a threat from the regulatory framework. Because in past many crypto assets faced delisting from the exchanges.
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