- The Litecoin Foundation announced the code of their MimbleWimble via Block Extension (MWEB) upgrade would complete on 15th March
- With the feature of hiding transaction amounts, the update pays great attention to user’s privacy
- User’s get the final say in whether the upgrade is to be implemented
As announced by Litecoin’s official Twitter account, the code of their MimbleWimble via Block Extension (MWEB) upgrade is now expected to be completed for final review and formal auditing by March 15th. Presently, in the testing stage for the past three months, MimbleWimble has been functioning effortlessly. This update, first proposed in 2019, aims to provide more privacy and fungibility to the Litecoin blockchain.
What’s New In This Update?
The Litecoin Foundation further explained, the upgrade adds the feature of hiding transaction amounts, and its ability to compact transactions will also improve the scalability. MWEB holds the ability to scale much better than Litecoin and Bitcoin. MWEB implementation will enable the users to move their funds from the LTC base layer to the next, the MW chain, where their transactions will be absolutely private, unlike Bitcoin, where the details of the transaction, addresses and amounts, can be seen by anyone. This also helps increase LTC transactions.
User’s Right to Choose!
Along with all these empowering features, the developers have proved that their utmost priority is their user’s comfort. Above all, the final decision on whether the upgrade will be implemented will be up to Litecoin miners. MWEB will be introduced as an opt-in feature and will function on the MW chain separate from the LTC chain, and thus the Users and exchanges will have the option to choose using MWEB, as it is not mandatory. Which further enables the two services to run smoothly without interfering with the other.
MWEB: Not a Threat to LTC
The blooming Foundation further assures, even after the users decide to go with MW, and in the future, if ever the government bars the functioning of LTC and MWEB as a union, the same crypto wallets and exchanges will have the option to disengage from the MW exchange block. And the change won’t have any effect whatsoever on the LTC main chain.
We are sorry that this post was not useful for you!
Let us improve this post!
Tell us how we can improve this post?