Do MimbleWimble, Litecoin is serious! Foundation plans to raise $ 72,000 to fund developers

Yesterday, the Litecoin Foundation announced that it will set up a fund to specifically fund confidential transactions on the Litecoin network. The Litecoin Foundation is a non-profit organization headquartered in Singapore. It is led by the founder of the Litecoin project, Charlie Lee.


The LitecoinTalk forum also synchronized this news, stating that donations from the community will be used to fund David Burkett's implementation of related improvements in Litecoin. Burkett is the lead developer of the Litecoin extension block MimbleWimble (EB MW) and the developer of the C ++ version of Grin ++ for the MW protocol.

The statement states:

"David works 30 hours a week. 15 hours for Grin ++ and another 15 hours for the MimbleWimble extension block. We believe this will be a win-win arrangement as the Grin ++ code will eventually fork into the Litecoin extension block. Therefore, any development of Grin ++ technology will benefit Litecoin. "

In addition, there are concerns that such moves could cause Litecoin Core to deviate from the Bitcoin Core code base, the former borrowing a lot of code from the latter. The Foundation pointed out that additional resources can be taken to ensure that the integration of Litecoin and MW can proceed smoothly and not deviate too far from the Bitcoin code base.

At present, the Foundation has raised more than $ 5,000 in Bitcoin and Litecoin from 21 donors, of which 4 donated more than 100 LTC, accounting for about 90% of the total, and 1 donated 52 LTC. Litecoin developer Loshan also publicly stated on Twitter that he had donated to the fund and encouraged others to donate.

"The goal of this proposal is to raise $ 6,000 a month for David Burkett for a total of $ 72,000 over a 12-month period. This funding will be deposited into a escrow account of the Litecoin Foundation and its progress and code will be published at David Burkett The library will be issued monthly after the update. If the overall target is not completed within the first month, the remaining USD funds required for the corresponding Bitcoin and Litecoin will be updated based on the asset price at a particular time. "

Although it's unclear what to do if this goal cannot be fully achieved, Charlie Lee has generously stepped forward to provide additional support for the funds raised each month, he wrote on Twitter.

"I intend to do a donation match. At the end of each month, for each LTC or BTC donation I will match the same amount.