David Burkett, a lead Litecoin (LTC) developer, has officially announced that MimbleWimble via Extension Blocks (MWEB) is now “code complete”. This implies that the code is now set for formal auditing by co-developers
According to the report, the renewal process may take a few weeks or months to complete. The process will discover or pinpoint any issue and whatever that requires correction in the code.
After the review is complete, the code will then be incorporated into the main codebase of Litecoin for the support of operators and miners.
After the code is implemented, it will then be left for the Litecoin community to determine when the MimbleWimble via Extension Blocks (MWEB) code will go live.
— Litecoin Foundation (@LTCFoundation) March 16, 2021
What MimbleWimble via Extension Blocks (MWEB) Means to Litecoin (LTC)
In a series of tweets a couple of days ago, a Litecoin developer identified on Twitter as Loshan explained why MimbleWimble via Extension Blocks (MWEB) is necessary for Litecoin (LTC).
According to Loshan, MWEB enables users to move funds to layer 2, where the amount transferred cannot be noticed by the public, a feature that is lacking in Bitcoin codes. He also stated that Bitcoin users have the capability to leverage this feature once it’s deployed.
“MimbleWimble via Extension Blocks (MWEB) is almost here. You’re a Bitcoin maximalist, so why should you care? MWEB allows users on the Litecoin blockchain to move funds to L2 where transaction amounts cannot be observed by the public.
“Unlike Bitcoin – where all addresses and amounts can be seen by anyone – MWEB + CoinJoin transactions are private. For a long time, many have attempted to improve Bitcoin’s fungibility and financial privacy. These were all baby steps compared to MWEB…
“Bitcoin users can take advantage of MWEB on Litecoin. With Atomic Swaps it is possible to swap BTC to LTC in a trustless and decentralized manner. These coins can then take advantage of MWEB and then swapped back out to Bitcoin.
“This is one of the many ways Litecoin complements Bitcoin. Their technical similarity allows for interaction between the two chains, while some more experimental technologies can be tested on Litecoin.”