Litecoin (LTC) coin is the right coin, and it continues to be the right coin. Litecoin was never a scam, and it never will be. It is the OG coin as good as Gold. It is the no-hype cryptocurrency that continues to survive the test of time over years.
Litecoin is decentralized, scarce, secure, trustless, borderless, immutable, fast, liquid, fungible, scalable, buildable, inexpensive to transact, and a great store of value.
It helps to know the history – the past of Litecoin. Litecoin is continuing to grow in terms of numbers of addresses, volume, community, use, transactions, and hash rate.
Litecoin Foundation: “The future of sound money is fungibility, Litecoin is achieving this with an optional technology called Mimble Wimble Extension Blocks or MWEB.”
MWEB is the largest upgrade to Litecoin. It has immense use, and it improves Litecoin’s scalability.
Mimble Wimble is a privacy and scalability upgrade. First published in July 2016.
Charlie Lee released Litecoin Improvement Proposal LIP:003 in 2019 with a focus to increase fungibility with extension blocks, and also to ensure confidential transactions.
The Litecoin Foundation deployed David Burkett on a community donation-based salary. Charlie Lee Matched all donations 1:1.
Charlie Lee, David Burkett, and E-currency Hodler started work on November 2019.
David began coding and the team has been testing and validating the code for over 2-1/2 years all the way through the final audit. MWEB was finally activated on May 19, 2022.
How to use the MWEB Privacy Option? The recipient checks the MWEB address box. Then creates new address by creating a stealth address, which is shared with the sender. The sender pays the recipient’s address and adds the amount and simply clicks the send button. The transaction is automatically embedded on to a Mimble Wimble Extension block using a parallel high way. Both the sender and recipient addresses and the amount transacted are hidden. The recipient receives the fund.
What does MWEB Do for users? MWEB privacy is optional. If utilized, it hides both the transaction details and the wallet balance. For instance, If the company were paying in Litecoin, those transaction details will be private. By removing unnecessary data, MWEB makes the Litecoin more scalable resulting in fast synchronization, LTC is fungible and interchangeable, but that 1 LTC always equals 1 LTC. This is one of the important qualities of money. Like physical cash MWEB allows Litecoin to be fungible regardless of their history. Now, that you know about MWEB you can download the Litecoin core Wallet privately and send funds safely to anywhere around the world.
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