Litecoin Improvisation on Use Case:  Litecoin is a decentralized digital currency that enables instant, near-zero cost payments to anyone in the world.  The network makes use of the PoW consensus model. It is known for zero downtime to date from the time of its launch.

MWEB upgrade has officially activated on the Litecoin network as a soft-fork.  Litecoin counts on the MWEB update to shine a light to further its development and LTC adoption to the next level. A lot of dialogue took place with several Litecoin Miners to achieve consensus.  The 75% miner signalling threshold was achieved on May 02, 2022. MWEB was officially locked-in for activation at block height 2257920. The signalling process for MWEB went smoothly, thus making it clear that the community is predominantly in favor of its addition to Litecoin.

MWEB (Mimble Wimble Extension Blocks), primarily was introduced in November 2019 in the LIP (Litecoin Improvement Proposal).  The focus of improvement proposal is to improve on fungibility.  Thus, improving confidentiality between the senders and receivers in the transaction.

MWEB is looked at as an extension from the Litecoin’s main chain, or a parallel highway, which can be used to send coins to the extension block and back to the main chain.

MWEB makes it possible for users to send “confidential” Litecoin transactions, in a way that the amount being sent will only be visible between the sender and receiver.  Thus, provides for the advantage of having private address balances and this eventually increases Litecoin’s transaction throughput.

The entire focus of MWEB has been to ensure privacy by confidential transactions using MimbleWimble and Extension blocks for the senders and receivers because in the current trend in most blockchain networks it is possible to trace the transactions and the numbers.

Trending Litecoin Network partnership to accelerate adoption is with BitPay.  Good thing is BitPay allows shopping with Bitcoin, Litecoin, Ethereum and a range of            10 other cryptocurrencies.

Bitcoin Improvisation on Use Case:  Bitcoin narratives keep changing; however, it continues to be the classic blockchain with its unaltered and robust vision of being the peer-to-peer cryptocurrency with the PoW consensus model. For now and forever, it will take 10 minutes to mint one BTC – thus sustaining the scarcity factor.  The high energy consumption and the PoW consensus contributes to its staying power and high security in the analog form.

The Bitcoin Blockchain has lot of volunteers and lots of them.  They sign hashes which validate transactions on the Bitcoin network by making use of cryptography. This system makes the transactions irreversible, and thus the data security of Bitcoin is very strong.

Bitcoin makes use of SHA-256 encryption for both its Proof-of-Work (PoW) system and transaction verification. The security of the bitcoin protocol depends on its fundamental characteristics, the transaction blockchain.

Ethereum Use Case: Ethereum used to have PoW as its consensus model like Bitcoin and Litecoin. However, the Merge is set to change things. Ethereum is working to transit from PoW to PoS – Will there be security threats? Will there be improved scalability? Will the gas fees Decrease? Reality should unfold.