Litecoin’s MimbleWimble Upgrade- Creating More Private Transactions

According to the official Twitter account for Litecoin, the long-awaited MimbleWimble upgrade has been activated. This means that users can now conduct transactions on the network to ensure privacy. MimbleWimble is a decentralized protocol that prioritizes privacy and uses a novel method to organize and store blockchain transactions. An anonymous developer named Tom Elvis Jedusor created and released it in the middle of 2016. He was a French version of “Voldemort.” He used the MWEB, or MimbleWimble Extension Block, to add MimbleWimble to Litecoin so that users could engage in anonymous transactions. In addition, the principal developer, David Burkett, claims that the MWEB makes it easier for users to use Litecoin as a fungible currency. As a result, they can use it for everyday transactions, such as paying staff salaries and purchasing real estate. MimbleWimble employs various cryptographic techniques to conceal the sender and recipient of a transaction. Previously, Litecoin developers had a projection that MWEB would be operational by February 2022. However, in March, a new version of the Litecoin Core 0.21.2 client with improvements to MWEB and the Taproot was released to the testnet. How Does MimbleWimble Work? The MimbleWimble protocol gets its name after the famous Harry Potter tongue-tying spell. This spell binds the victim’s tongue, preventing them from uttering specific words. It provides a blockchain structure that cr...