Litecoin (LTC) is just a month away from becoming another privacy coin: here’s why
Veteran cryptocurrency Litecoin (LTC) is going to have its privacy advanced by MimbleWimble (MWEB), a protocol of by-default transaction obfuscation. The update has been in development for almost three years.
75% of LTC miners are ready to support MimbleWimble
According to the statement shared by Mr. David Burkett, an engineer who works on the implementation of MimbleWimble (MWEB) protocol into Litecoin (LTC), three out of four Litecoin (LTC) miners signal support for the upgrade activation.
It looks like more than 75% of miners are now signaling for MWEB. If this continues, it should move to LOCKED_IN status at height 2,257,920, and then will be ACTIVE at height 2,265,984.
— David Burkett (@DavidBurkett38) April 14, 2022
As such, the blockchain can see the upgrade in “Active” status until the block height 2,265,984 is reached. As per the estimation of Mr. Burkett’s followers, this may follow in 35 days.
Mr. Burkett has been working on this upgrade since November 2019. Should this process be ready by mid-May 2022, the implementation of MWEB will take 31 months.
This much-anticipated release is set to allow Litecoin (LTC) users to have their transactional data obfuscated. As with mainstream privacy coins Monero and ZCash, all sensitive details of transfers will not be visible for third parties.
Litecoin Foundation, Antpool launch crypto R&D laboratory LTC Labs
Litecoin (LTC) creator Charlie Lee earlier announced that Antpool became the first mining pool to signal the support of MimbleWimble (MWEB).
1/ We’re very excited to announce this partnership with @AntPoolofficial.
We first approached AntPool last month to talk about MWEB signaling. They were very enthusiastic about supporting Litecoin. And as you know, they were the first pool to upgrade and signal for MWEB. 🎉 https://t.co/uWNp5ovDLA
— Charlie Lee (@SatoshiLite) April 5, 2022
Together with mining veterans Antpool, Litecoin Foundation launched crypto and blockchain research laboratory LTC Labs. The organization will incubate new products of the Litecoin (LTC) ecosystem.
According to the official statement, Antpool will support LTC Labs with 50% of its LTC mining pool proceedings.