The Mimblewimble update, which will improve privacy in Litecoin, is increasingly approaching. Developer David Burkett announced that the first Mimblewimble testnet on Litecoin will be launched on September 30.
Following the August update, the Grin developer, who has been working with Litecoin founder Charlie Lee to design a Mimblewimble add-on block for several months, announced the start date of the highly anticipated feature that gives users the opportunity to make private transactions.
David Burkett, the developer of the privacy-focused coin Grin, stated that the first testnet will be launched on September 30, after completing the “Initial Download”, especially after the approval of MWSTAT messages, as malicious peers can use new messages on DoS nodes.
David Burkett used the following statements in his tweet:
“Progress update for August: Nodes can sync and verify baseline (similar to First Block Download). Same as improved UTXO management logic. Get ready for the first Mimblewimble testnet in LTC starting September 30! More details are coming soon. ”
The new CT feature, which helps hide the amount sent to any address and provides significant privacy with CoinJoin, is huge and the scalability is terrible, according to Burkett. However, with some improvements, this problem can be corrected better than Bitcoin and Litecoin.
Burkett explained in the CryptoChat program about the features currently being worked on to improve the network, stating that once spent, ‘range’ groups can be deleted and users can still confirm transactions without having to look back from the genesis block:
“What makes Mimblewimble great at scalability and many things is that you can delete a coin when you spend it. So they all stay in the chain. You no longer need to remember and know that money. So when you do your first synchronization, you can’t even get that coin… You don’t know anything about it. You don’t even know if it exists or not. You only get the unspent output named UTXO. With this feature, there is scaling three, four or five times better than Litecoin in terms of chain size and initial block loading time. There is also this, secret operations are carried out with the ‘range’ groups I just mentioned. Much better this way ”
The Mimblewimble application may not be accepted at the request of exchanges because some countries take a stand against such payment and transaction methods. This may cause exchanges to unlist Litecoin or not accept this plugin.
The testnet feature, which was planned in a period when there were rumors that LTC, the most purchased crypto currency of a period, would be out of the top 10 crypto money ranking and especially when DeFi protocols were almost flying, was an expected move for the development and progress of the Litecoin network.
It was also stated recently that Litecoin has implemented the Revolut application in the USA. This may cause him to be known and attracted more attention. The 50 grams Ballet Litecoin Block card made up of .999 silver, which allows to collect the Litecoin block reward, is also sent to interested users.