The LTC Mimblewimble development updates were pretty slow recently as Defi was taking up the entire crypto space. The good news however is that the project’s scaling and the privacy protocol are still on track as we are reading in the upcoming Litecoin news.
May Progress Update:
Blocks with mimblewimble transactions can now be attached to the chain. Work has started on the mempool logic. Tentative plan shared for the remainder of the work necessary to launch the testnet.
— David Burkett ツ (@DavidBurkett38) June 2, 2020
The lead developer David Burkett posted the project’s June update on the development progress which confirmed that the LTC Mimblewimble development is still on track for the September testnet:
“Everything is still on track for a mid-September testnet.”
Mimblewimble is a protocol named after a Harry Potter spell that uses confidential transactions allowing senders to encrypt the number of coins to be sent using “blinding factors” and also improved the privacy of the blockchain while enhancing its scalability. Litecoin aims to implement this protocol and to make the network more private because that is what the investors and traders prefer the most. Back in 2019, the founder of Litecoin Charlie Lee tweeted about the improvements on the network:
“Fungibility is the only property of sound money that is missing from Bitcoin & Litecoin. Now that the scaling debate is behind us, the next battleground will be on fungibility and privacy.”
A year and a half later, the development is still underway as MimbleWimble deployment is nearing. In the upcoming months, Burkett stated that there is a minimal implementation supporting MW transactions that have been written through code and created the support for mining of extension blocks that store MW transactions. He continued to say that there were concerns about the way MW block data was stored:
“Having separate databases is generally a bad idea though, because we lose the ability to make atomic updates, which means the 2 databases could become out of sync.”
Further problems or vulnerabilities that lead to exploits could also come again as Burkett noted. The code has been tweaked in order to enable upgraded nods to save extension block data to the same place that they have done, without introducing database info. The developer concluded that the high-level plan for the rest of the summer remains the same as the block download remains for July, the chain reorganization logic for August with the testnet launch remains on schedule in September.
June Progress Update:
Minimal implementation of the mempool coded. Mining logic has been written for including extension blocks. Mimblewimble transactions can now be broadcast to peers.
Everything is still on track for a mid-September testnet.
— David Burkett ツ (@DavidBurkett38) July 1, 2020
LTC suffered the same fate as the rest of the crypto space as it was going down for most of the year. LTC is back at where it started this year so a move above $30 in mid-February was the highest level for some time, but the price eroded by almost half in the past few months as the markets recovered.
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