![]() Litecoin’s price reaction coincides with the news of the MWEB upgrade and the crypto-positive sentiment. The update is optional and will also increase the user’s network fungibility and privacy. ![]() This is where the Mimblewimble Extension Block (MWEB) update comes in. In the past 24 hours, the whole crypto market is up 5.40%, according to CoinMarketCap. Some people or businesses choose to keep some of their personal information private. Litecoin is the 22nd biggest cryptocurrency by market capitalization with $7.68 billion and trading at $110.47 and is up almost 5% in the last 24 hours, but it is still down 73.2% from its all-time high of $412.76 in May 2021. The network users that decide to activate the upgrade will be able to have complete privacy in the following information: the amount of crypto sent, sender, and recipient’s address.ĭavid Burkett believes that the new upgrade will position Litecoin as one of the most sound currencies in the world. The upgrade is optional and will improve the user’s fungibility and privacy in the network. Sometimes people or companies like some of their own information to be private, and this is where the Mimblewimble Extension Block (MWEB) upgrade comes in. The optional confidentiality MWEB provides gives the user notable and needed protections for small everyday items, to salaries, or even buying a home” What Does MWEB Mean for the Litecoin Network? Those who have donated funds to the convoy have found themselves at loggerheads with authorities who have frozen their bank accounts and attempted to freeze their crypto wallets on exchanges.“MWEB is a crucial next step in Litecoin’s evolution. David Burkett updates us on MWEBs August Progress: Rebased wallet changes on top of v0. Litecoin MWEB August Update The future of Sounds Money is coming. A good example is the recent crackdown by authorities on private donors of the trucker convoy in Canada. David Burkett updates us on MWEBs August Progress. The process of activating MimbleWimble on the Litecoin network comes at a time when crypto-users are growingly concerned about their privacy on the blockchain. MWEB Comes at a Time When Crypto Users are Concerned About Privacy ![]() This means that users of Litecoin will have the additional option of using MimbleWimble to conceal information related to their transactions. Once successfully implemented, the MimbleWimble upgrade will introduce confidential transactions on the Litecoin network. MimbleWimble to Introduce Confidential Transactions on the Litecoin Network Consequently, the MimbeWimble upgrade will be activated on the Litecoin network between now and February of 2023. The privacy-driven upgrade of Mimblewimble Extension Blocks (MWEB) to Litecoin (LTC), which completed in May 2022 and increased the likelihood of the coin. However, if this does now happen within one year, the upgrade is automatically implemented on the Litecoin network. MWEB to Be Implemented Automatically in 1 Year if Threshold of Miners is Not MetĪccording to the team at Litecoin, signaling for the MWEB upgrade will continue till the 75% miner threshold is met. The screenshot below provides a visual cue of the progress of the MimbleWimble upgrade on the Litecoin network. This number represents 0.25% of the miners on the network. At the time of writing, 20 mining pools have signaled for the Litecoin upgrade. On 19 May, Litecoin finally launched its new MimbleWimble (MWEB) upgrade after years of development. ![]() Kdw3XDBzqfħ5% of Miners Need to Signal for the MWEB Upgrade on LitecoinĪs with all upgrades on the Litecoin network, 75% of the miners need to signal for the MWEB upgrade for it to be implemented. We found some minor issues in RC1 and are building the RC2 right now, which fixes these problems. We just had our first block signaling for MWEB by □ Litecoin’s founder, Charlie Lee, notified the crypto community via Twitter of the development surrounding the upgrade and also pointed out that AntPool was the first mining pool to signal for the MWEB upgrade. MimbleWimble Protocol Features The MWEB protocol allows for addition of confidential transactions on the Litecoin blockchain. The upgrade will allow transactions with the new MWEB privacy features. Miners on the Litecoin (LTC) network have begun the process of signaling for the MimbleWimble (MWEB) upgrade. Ahead of the all-important the MimbleWimble (MWEB) update, the whales appear to be steadily eyeing Litecoin. The MWEB upgrade will introduce confidential transactions on the Litecoin network.If the miner’s threshold has not been reached in 1 year, MWEB will be implemented automatically.75% of the miners need to signal for MimbleWimble for it to be activated.AntPool was the first mining pool to signal for the upgrade.Litecoin miners have started the process of signaling for the MimbleWimble upgrade.
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