Litecoin is one step closer to implementing the Harry Potter version of Mimble Wimble privacy technology.
Litecoin, the eighth largest cryptocurrency in the world, its programmers are trying to add new experimental privacy features.
This is an implementation of the Mimble Wimble protocol, originally proposed back in November two thousand nineteen, which aims to add privacy consent for those who use the network.
Today David Burkett, the developer in charge of this integration, provided an update on its implementation. He said a lot of progress has been made and the initial code will be ready for review on March fifteenth.
There are many more ways that we can (and will) continue to improve the code, particularly with regard to synchronization, but most of what is left is not required for initial launch.
Litecoin was one of the first names to establish itself in the market and has long been known for its cheap and fast transactions. However, privacy is one of the features that Litecoin may have lacked.
To address this issue, the developers proposed to allow users to post Mimble Wimble transactions in an Extension Blocks style sidechain.
Expansion blocks were originally proposed in two thousand and thirteenth as a soft fork scaling solution for Bitcoin. The idea was focused on providing better fungibility, which means that each unit of cryptocurrency has the same value as any other unit, while minimizing the potential impact on the existing wallet ecosystem. It was ultimately rejected in favor of the Segregated Witness update.
Mimble Wimble, in turn, is a privacy focused protocol that has real and huge implementations in cryptocurrencies.
The Mimble Wimble Litecoin implementation project has been in development for over twelve months, and even the Mimble Wimble Extension Blocks testnet was launched last September.