Saturday, April 10, 2021

Litecoin (LTC) MimbleWimble via Extension Blocks (MWEB) Is Now Code Complete

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.

Read Also: American Singer Gene Simmons Reveals Investment in Litecoin (LTC)

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.

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).

Read Also: David Burkett Reveals the Release Date of MimbleWimble Testnet, Charlie Lee Reacts

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.

Loshan noted:

“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.

Read Also: Polkadot Futures Market Topples Litecoin (LTC)’s As DOT’s Open Interest Hits $575M

“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.”

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Solomon Odunayo
Solomon has a growing passion for writing, this propelled him to keenly work on Eagles News Media for about two years before delving into the cryptocurrency and Blockchain industry he finds more interesting. He worked as a crypto Journalist and Editor at NewsLogical before joining Herald Sheets, owing to the priceless experience he has accumulated since he became a contributor in the crypto community.

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