The Litecoin Foundation has completed code for the MimbleWimble Extension Block (MWEB), which will improve the scalability and privacy of the cryptocurrency. After more than a year of development, MWEB is now “code complete,” said Litecoin’s lead programmer David Burkett. He added that the code is now ready for formal audits by other programmers. However, this process can take several weeks to months, depending on corrections.
Once completed, the code will be incorporated into Litecoin’s main codebase. It is then ready to be rolled out in the software for node operators and miners. It is up to the community to decide how soon MWEB is activated, the announcement added.
What does MimbleWimble bring?
The MimbleWimble Extension Block upgrade will improve key features that Litecoin lacks: fungibility and privacy. The MimbleWimble test network was launched in October 2020 and the code has been tested for the past five months.
The protocol, named after a fictional Harry Potter spell, uses confidential transactions. It allows senders to encrypt the number of coins to be sent using ‘blinding factors’ while also disguising the addresses. This enhances the privacy of the blockchain while improving scalability.