It enables a higher throughput for the Litecoin network, bringing down transaction fees even further. No one knows how much you are spending from your address, introducing a basic privacy layer.įurthermore, Litcoin will introduce Mimblewimble through extension blocks. One can solve that problem through Mimblewimble, as it masks transaction amounts. Blockchain analysis companies ensure once-tainted assets remain that way forever, regardless of ownership changes or the user’s future intent. Furthermore, several network coins may be “tainted” by illicit activity, either purposefully or by getting caught up in someone else’s nasty business.Ĭheck out our weekly crypto and fintech newsletter here! Follow CryptoMode on Twitter, Youtube and TikTok for news updates!Įquality is very tricky where fungible tokens are concerned and warrant looking at new solutions. However, many feel a newly minted LTC has a different value than an LTC created in the Genesis block. The inherent transparent nature of blockchain systems like Bitcoin makes it easy to track the history of every coin generated on the network. To most people, it is, even though it really is not. In addition, MWEB addresses the age-old question of “is 1 LTC equal to any other 1 LTC on the network?”. It is even bigger than Segregated Witness, although that network update will remain crucial for many years to come. It is safe to say that MWEB is the most significant upgrade to the Litecoin network. The upgrade is scheduled to go into effect tomorrow at 8:30 PM PT. Introducing Mimblewimble extension blocks is an exciting development that would not be possible without the help from all major LTC mining pools. The Litecoin network is very close to getting MWEB activated.
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