Litecoin Mimblewimble Extension Block Successfully Activated On Testnet
Litecoin is a one of my favorite coins. One of the reasons is that I have used it in multiple transactions in real life and had no issues. It was fast and fees were very negligible. Another reason is that I have a friend who is obsessed with Litecoin and never stops talking about it if the topic is cryptos. Today, there are many more interesting projects in crypto world. Most attention is given to NFTs, Defi, Web3, etc. There is still value in veteran crypto projects like Litecoin. Like bitcoin they have gone through the test of times.
You man have heard about Mimblewimble, the new feature that has been in works on for a while now. Mimblewimble is a tongue tying spell from Harry Potter that ties the target's tongue to keep them from exposing information. As a protocol that provides privacy by a unique way of structuring and storing transactions on the blockchain. Implementing this protocol in the Litecoin blockchain, will give people an option to use privacy feature when sending transactions. This in essence will make Litecoin a privacy coin. However, this feature is only optional, transactions can still remain public if that's what people choose.
At the end of January 2022, Litecoin Foundation announced the release of Mimblewibmle Extension Block Upgrade. This was confirmed by the lead developer behind Litecoin's MWEB, David Burkett, and was included in Litcoin Core 0.21.2 release candidate. This indeed was a great news. Finally, something is happening in Litecoin world. It wasn't clear to me thought if it was in a test phase or ready to be activated on mainnet.
Three days ago there was another news on the progress, that states MWEB had successfully activated on testnet and chain is progressing forward. It looks like there were some bugs discovered since January announcement and there were fixed. While everything seems to be ready now, they will continue testing and present final release candidate for node operators to upgrade and miners to start signaling.
It is still not completely clear to me, if at this current moment all tests are complete and they have the release candidate. If not, how long more will it take. Even after that, how long will it take for this new feature to be activated on the mainnet.
Privacy is a great feature for a network to have, especially a network like Litecoin that has proven to be secure and worked without any issues for so many year. I believe this will be a great addition to Litecoin and it will make it more useful. However, there may also be concerns in the future that some exchanges may delist privacy coins. Even if that happens, I doubt it will hurt Litecoin much as it already has a global brand recognition.
I like Litecoin. But I do like Bitcoin more. The fact that Litecoin never even tried to compete with Bitcoin but rather served as a testing playground of new possibilities with blockchain technologies, and when bitcoin was compared to gold, litecoin compared itself to silver. With this point of view, I can see bitcoin as a store of value and litecoin used for daily small transactions. I can be completely wrong. But the fact remains, litecoin is not going anywhere and will be around for a while.
Litecoin also has served as a good trading coins. I did have profitable trades with litecoin and tend to buy more when I get a chance. While its price may not have performed as well as bitcoin or ethereum, it tends to surprise market participants from time to time. I think I will always hold some litecoins, just in case.
Mimblewimble - don't tell anyone.
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I'm surprised I have never heard of it. Any estimate when can we the extension live?
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Really excited for the privacy features. I use LTC all the time to go out of Hive. Never has failed me. I don’t hold it as a SOV, that’s what Bitcoin is for, I use LTC. Big difference, lol.
Litecoin though not that high in price is a good coin and have shown prospects in the market in recent years.
Litecoin!!!... Its new to me... I'm making my research and venturing into it. Thanks for this @geekgirl
Although I have heard of it a few times. I never knew it fees were really low. It may not be a bad idea venturing into it since there is no much attention on it.
It definitely a good coin to invest in the future
Its a good coin I have actually acquired it some times ago but didn't know the value then I sold it off
This is one of the first coins I ever bought, years ago now, and I am still hodling. I have too used Litecoin several times for real transactions and a privacy wrapper will be a welcome addition.
Thanks for sharing.
I have heard about it and I think the more options we can get, the better it is for everyone in the space. Like if one privacy coin gets compromised, you can just pick a different one in the future.
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Awesome! It's hard to see development done in the Litecoin world. :P But it's my favorite coin and I have been using it since day one because of the quick transactions it offers and it is available on almost all exchanges.
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Litecoin is excellent. It's fast and very reliable. I use it more than any alt coin, it's accepted everywhere !
Litecoin has long been one of my favorites and is the coin I always use for transactions when possible and conversions when needed. For example, I typically buy Hive with LTC on Hive Engine.
Litcoin is a very great coin and reliable with some people use for transactions at any point in time
Hi @geekgirl
I have always liked Litecoin. It was one of the first coins I researched when I first got into crypto and it has become my standard coin (or BCH) for sending tokens between wallets because of the low fees and quick speeds. I think that because of it's track record and it having been relatively stable (there have been gains but it hasn't been hugely volatile like some others) - it will remain one of the foundation coins, (well for me anyway) and with these improvements, who knows maybe there will even be a bit of renewed interest in it in terms of investments.
Some crypto proponents are quite optimistic about litecoin’s future. The coin is expected to hit about $1,216 in 2025, then reach up to $2,300 by 2033 ; a significant price increase indeed.
Mimblewimble will be optional, and to my understanding, cryptocurrency exchanges will be free whether or not to support the new privacy features. I guess it is a smart move by the Litecoin Foundation to avoid the risk of being delisted by exchanges
Privacy coin.. I like the sound of that. Mimblewimble :P cool! go LTC!