#Litecoin mweb news upgrade

Those who have donated funds to the convoy have found themselves at loggerheads with authorities who have frozen their bank accounts and attempted to freeze their crypto wallets on exchanges. Litecoin is a decentralized, peer-to-peer cryptocurrency that was created by Charlie Lee in October 2011. A good example is the recent crackdown by authorities on private donors of the trucker convoy in Canada. The process of activating MimbleWimble on the Litecoin network comes at a time when crypto-users are growingly concerned about their privacy on the blockchain. Litecoin has been working on the MimbleWimble protocol for around two years. Korean cryptocurrency exchanges have delisted LTC and many other privacy tokens. MWEB Comes at a Time When Crypto Users are Concerned About Privacy Delisting Litecoin was a highly anticipated event because several exchanges issued their warnings at the beginning of the year. This means that users of Litecoin will have the additional option of using MimbleWimble to conceal information related to their transactions.

#Litecoin mweb news upgrade

Once successfully implemented, the MimbleWimble upgrade will introduce confidential transactions on the Litecoin network. MimbleWimble to Introduce Confidential Transactions on the Litecoin Network Consequently, the MimbeWimble upgrade will be activated on the Litecoin network between now and February of 2023. However, if this does now happen within one year, the upgrade is automatically implemented on the Litecoin network. MWEB to Be Implemented Automatically in 1 Year if Threshold of Miners is Not MetĪccording to the team at Litecoin, signaling for the MWEB upgrade will continue till the 75% miner threshold is met.

The screenshot below provides a visual cue of the progress of the MimbleWimble upgrade on the Litecoin network. This number represents 0.25% of the miners on the network. This is considered one of Litecoin's most significant upgrades to date. At the time of writing, 20 mining pools have signaled for the Litecoin upgrade. Litecoin (LTC) has released its long-awaited fungibility and scalability upgrade Mimblewimble Extension Block (MWEB) after almost two years of development, testing, and auditing. Kdw3XDBzqfħ5% of Miners Need to Signal for the MWEB Upgrade on LitecoinĪs with all upgrades on the Litecoin network, 75% of the miners need to signal for the MWEB upgrade for it to be implemented. We found some minor issues in RC1 and are building the RC2 right now, which fixes these problems. We just had our first block signaling for MWEB by 🚀 Litecoin’s founder, Charlie Lee, notified the crypto community via Twitter of the development surrounding the upgrade and also pointed out that AntPool was the first mining pool to signal for the MWEB upgrade. Miners on the Litecoin (LTC) network have begun the process of signaling for the MimbleWimble (MWEB) upgrade. The MWEB upgrade will introduce confidential transactions on the Litecoin network.If the miner’s threshold has not been reached in 1 year, MWEB will be implemented automatically.

75% of the miners need to signal for MimbleWimble for it to be activated.

AntPool was the first mining pool to signal for the upgrade.

Litecoin miners have started the process of signaling for the MimbleWimble upgrade.