The founder of Litecoin reveals important new details about the cryptocurrency (LTC)
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Answer The founder of Litecoin reveals important new details about the cryptocurrency (LTC)
The Litecoin network has been gaining a lot of media recently due to the mining reward split of the network:
Finishing the mining rewards reduction (Halving) for Litecoin… and the price reacts to the news
And the emergence of news about the lack of progress of network developers in the development process planned and laid out previously.
Litecoin founder responds to accusations about ignoring network development
Since the controversy over the development of the network did not end, Charlie Lee was keen to reveal the details of the development processes and published updates about the events of the development activities on the network.
Read:The demand for Ethereum is weakening and there is a serious imbalance between buying and selling it…according to one of the analysts
Charlie Lee posted the progress in the major development of the Litecoin network and informed his Twitter community that he had made significant progress in implementing the MimbleWimble protocol, which revolves around the issue of privacy.
He referred to the ongoing development process by saying:
“We have ironed out the mechanism for getting LTC in and out of MW/EB.
We also figured out a way of how to handle MW fees in a clean way.”
The new protocol is being developed by Charlie Lee, David Burkett, and Twitter user currencyhodler.
10/ This is how Litecoin Core development has been working for years. We even had the same FUD last year! Someone looked at our main branch last year and claimed that Litecoin stopped developing in 2018. I bet even after this explanation we will have people confused in 2020.
– Charlie Lee [LTC⚡] (SatoshiLite) August 11, 2019
According to for post Officially published by the Beam project management last February, the Litecoin Foundation contacted the Beam team to talk about a possible collaboration to implement the Mimblewimble protocol.
Read:Dollar Rally Affects Bitcoin and the US Stock Market…What’s Next for Bitcoin?
As for the Mimblewimble protocol, it is based on enhanced scalability and greater privacy.
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