Litecoin MimbleWimble Testnet Launched, Privacy Will Finally be Here in 2021
Litecoin MimbleWimble testnet is here, which will bring privacy to the network. Scheduled for launch on Sept. 30, not many participated in keeping it running as such MimbleWimble testnet has been relaunched. The protocol is designed to enhance privacy and obfuscate the traceability of distributed ledger transactions.
Only a few nodes connected and mined, so not “enough blocks to activate mimblewimble yet,” but as more peers get onboard, they will be able to activate the testnet, said Grin developer David Burkett who has been working on this implementation.
MimbleWimble is a modified implementation of the proof-of-work (PoW) algorithm that underpins Bitcoin. In this, blocks appear as a single large transaction, preventing the individual inputs and outputs of a transaction from being identified. Burkett also wrote,
“I’m still roughing in very minimal cli wallet support, but hopefully we’ll have a simple way to create mimblewimble transactions by the time it activates.”
Despite this news, LTC failed to pump and continues to trade around $46, down 87.55% from its all-time high. One of the worst performers of 2020, LTC saw returns just about 8.65% YTD.
#MWEB is entering its final stages and we have many people to thank. The #LitecoinFam, the @LTCFoundation, @DavidBurkett38, @SatoshiLite. Now to commemorate this event, our #Litecoin Chikun must evolve. I bring you the #Warlock Chikun! Fast, reliable, secure and NOW fungible. pic.twitter.com/vUh5a7O0AQ
— Rob D Arise WarŁock Chikun (@BoilingPointLLC) October 1, 2020
Now that “Mimblewimble Extension Block” (MWEB) testnet is working, the developer will be focusing on making it easy for non-technical Litecoin users to test it out as well — this means wallet support, automated builds, and better documentation. He said,
“Once I’m confident everything is working as designed, I’ll start looking for ways to break the testnet, to make sure we find and resolve any security or stability weaknesses.”
Burkett also stated that next month, he would share a detailed plan about the remaining work required to get MWEB merged to the main repo, so that node operators and miners can start signaling for activation sometime in 2021.