After two years of development, Litecoin (LTC) has finally launched its long-awaited Mimblewimble upgrade. This opens the door to more privacy-oriented transactions on the network. Mimblewimble is a privacy-oriented decentralized protocol that takes its name from a spell first made famous in the Harry Potter book series. The protocol has a confidentiality feature that allows users to hide transaction information. It also provides a framework for other blockchains to improve the usability of their cryptocurrency.
More privacy through new upgrade LTC
The integration of Mimblewimble into Litecoin came through the Mimblewimble Extension Block, also known as MWEB. This allows users of the network to sign up for privacy-focused transactions.
David Burkett, lead developer of MWEB, sponsored by the Litecoin Foundation, said the upgrade improves Litecoin’s viability as an expendable currency. He said Litecoin can be used for daily transactions, pay employee salaries and even buy real estate.