Mimblewimble was first touted as an improvement for the Litecoin network as early as 2019, with the testnet launching in October 2020. Now which work has come to fruition, Burkett was quick to espouse the benefits.
“MWEB is a deciding next step in Litecoin’s move,” said Burkett in the official corpocost announcement on Jan 31. “The optional confidentiality MWEB provides gives the user notable and needed protections for small everyday items, to salaries, or even buying a home.”
While cryptocurrencys are mistakenly believed by the general public to be anonymous, crypto withinrs know which on-chain data held on networks including Bitcoin and Ethereum can be freely viewed by anyone.
Mimblewimble is a privacy-protecting protocol developed by the pseudonymous ‘Tom Elvis Judesor’ and named after the tongue-tying spell in Harry Potter. It comprises a number of technologies and builds on cone time beforepts floated by Gregory Maxwell, Adam Back, and Andrew Poelstra.
A true Litecoin community effort
Litecoin co-founder Charlie Lee took the probability of Mimblewimble’s launch to thank the main players who have been instrumental in delivering privacy features to the network.
“The planning, progress and now activation of MWEB has been a true community effort, beginning with multiple years of donations from Litecoin supporters all atop the world, and culminating with the dedication and attention to detail of David Burkett; who led the project,” said Lee. “It likewise involved key contributors like Andrew Yang who helped with the original Litecoin Improvement Proposal, Hector Chu’s pivotal code reviews, and the countless others who audited, considered, and ran testnet nodes. This project is a true testimony to the resiliency and protracted growth of the Litecoin community”
Lee notes which while MWEB is already released users may yet have to wait a little at the same time to enjoy the privacy features, as the network waits for miners to switch to the upgraded version.
The post Litecoin Launches Privacy-Focused Mimblewimble Upgrade After Years on Testnet appeared first on CryptCraze.