Litecoin will implement MimbleWimble technology? Charlie Lee: Currently Lightning Network is not compatible with MW technology

In the cryptocurrency field, there has been a saying that Bitkin Wright Silver, the Litecoin network that has a place in the cryptocurrency field, is actively embracing new technologies. Litecoin is the first cryptocurrency to deploy Lightning Network as a scalable solution on a second-tier network. Recently, in order to achieve replaceability and privacy, the Litecoin Foundation has collaborated with Grin ++ developer David Burkett to implement MimbleWimble technology in the Litecoin network.

storm-4410867_960_720 (Image source: pixabay )

But can two important technologies, Lightning Network and MimbleWimble, be compatible on the same network? In this regard, Charlie Lee, the founder of Litecoin, stated on the Magical Crypto Friends show:

MimbleWimble is not currently compatible with Lightning Network, but I think developers are working on how to make them coexist. I don't know if the two technologies will be compatible to the greatest extent in the future, but users can still use the Litecoin main chain to use the Lightning Network.

The Litecoin Foundation submitted two draft privacy protocols in October to extend the use of MimbleWimble technology. Some people worry that while popular cryptocurrency exchanges such as Coincheck and Upbit have banned private currency transactions such as Monero, ZCash, and Dash, if Litecoin is classified as a privacy coin, it may also be removed from the exchange. . However, Charlie said that this is not a problem because MimbleWimble will be an optional feature. Charlie said:

Some people worry that the exchange will delist the privacy coin, so Litecoin users can still choose to use the main chain. Therefore, most exchanges don't care about MimbleWimble's extended blocks, they will only support Litecoin on the main chain.

Previously, the community manager of the Litecoin Foundation also clarified that once MimbleWimble technology is implemented, Litecoin will be different from the current common privacy coins, because Litecoin will have a separate private transaction chain in addition to the public chain, and the privacy coin There is only one chain.

We will continue to update Blocking; if you have any questions or suggestions, please contact us!

Share:

Was this article helpful?

93 out of 132 found this helpful

Discover more

Blockchain

Million-Dollar Shuffle FTX Cold Wallets Sneak $19M in Solana and Ether to Crypto Exchanges

FTX debtor group responsible for asset management has recently conducted multiple on-chain transactions.

Blockchain

The second phase of the fire coin Prime project led the disputed person to claim that two exchanges were “strong”

Huobi Prime's second phase project started with a long-awaited call, and was fixed as Newton Project. The inside...

Blockchain

What are the chances of decentralized exchanges completely replacing Binance and Coinbase?

This article will compare three common centralized trading features and contrast them with their decentralized coun...

Blockchain

The kimchi premium breaks $1,000! South Korea’s "disfigured alcohol addiction" has another episode?

The quiet year's kimchi premium once again swayed, and it was a bit like the scene before the bull market in 201...

Blockchain

The pace of competition is accelerating, how can the new exchange break with the finer operations?

The cryptocurrency exchange is still a good business. Recently, the Currency Exchange announced the eighth BNB quarte...

Opinion

What happened during the first week of the SBF case in a comprehensive article?

In the first week of the trial, SBF found itself in a difficult situation with almost all the testimonies and public ...