Litecoin (LTC) Faster Development Pace in Integrating Mimble Wimble over the Forth Coming Months

By Steven Anderson February 4, 2020 Off
litecoin mimble wimble charlie lee

The Litecoin Foundation is making complete progress in the path of integrating MW.  It is essential to cover which Litecoin is being spent completely.  It is important for those transacting on the network to prevent other people from knowing the track records and transactions.  It is about sustaining some decent privacy.  It is not about mere hiding.

Litecoin – Charlie Lee

Charlie Lee considers fungibility to be one of the major requirements when transacting cryptos. About a year ago, Lee tweeted:  “Fungibility is the only property of sound money that is missing from Bitcoin & Litecoin. Now that the scaling debate is behind us, the next battleground will be on fungibility and privacy. I am now focused on making Litecoin more fungible by adding Confidential Transactions.”

David Burkett, when tweeting about the January progress update: “One-sided transactions are possible, database framework is written, LTC block and header models defined, and Grin++ audit nearly complete.”

David Burkett is the project lead for MimbleWimble (MW) Proposal. He recently announced the integration of non-interactive services. In a non-interactive service, the user does not put in logon data.  Therefore, by virtue of this new feature, the receiver need not be online when the sender initiates a transaction.  This feature is a major improvement contributing to a better user experience.

Litecoin Progressing in Improving the Quality Of Transactions

When talking about the difficulty associated with using Mimble Wimble, Burkett stated that it required both the receiver and the sender to be online to communicate with each other.  He previously stated that his proposal would eliminate the need for both of them to be online, thus facilitating one-sided transactions.

Thus, the updated version of the write up removes the major UX hurdle.  The long-term maintenance requirements are limited.  Further, receiving cold-storage is supported. And, hardware wallets are easily supported.

The database Framework from Burkett consists of transactional capabilities, which are required to support the atomic updates through multiple tables.  The Framework was presenting different issues related to syncing. Fixes have been applied to Grin++ and libmw.  Faster development is expected in the forthcoming months.

Burkett further stated that it is their priority to include consensus rules for the LTC EB consisting of the full suite of tests and validation.  The sooner it is complete; he stated that they would be working on API for the extension of the block, thus making it possible to integrate libmw to the existing LTC codebase.

The emphasis would be given to review the one-sided Tx proposal thoroughly. An LIP for community feedback will be created in the absence of community feedback.