LTC Dev Announces Mimblewimble Testnet Launch Coming to Litecoin By Q3 2020

  • Mimblewimble testnet will be launched at the end of this summer
  • Developer David Burkett made progress on non-interactive transactions proposal and validation rules in Feb.
  • Also, LTC took “a big step” toward expanding in the South Korean market

David Burkett, developer of Grin++, a wallet for privacy oriented cryptocurrency who is also working on adding privacy to the Litecoin through MimbleWimble implementation has finally given the MW Testnet launch time that is, the end of this summer.

Although Burkett was reluctant to offer a specific date as writing blockchain software is time consuming, difficult, and unpredictable, and the artificial deadlines could further push them to fly through areas of the code, Burkett believes it’s time to commit to the “first major event” – Mimblewimble testnet launch.

The idea of the privacy and fungibility to be added to the Litecoin blockchain was renewed by Litecoin founder Charlie Lee in early 2019. After going through many options, they decided on implementing the Mimblewimble.

Progress in MW Implementation in Feb.

Now, the testnet has been decided to be launched sometime in quarter 3 of this year which will include all block and transaction validation rules, transaction pool, syncing, basic p2p messaging, and the capability to mine blocks. However, an active GUI wallet for average people to test it with won’t be part of this. It may be necessary to make transactions manually first, said Burkett.

While providing the monthly update on Mimblewimble progress, Burkett shared that in the month of February, the non-interactive transactions idea has been through some design integrations and turned it into a Litecoin Improvement Proposal (LIP). However, there could take some time in review before the LIP is considered safe enough to be accepted.

With the exception of the LIP, Burkett produced “good progress” regarding the validation rules leaving still much left to be done with it. The developer came up with changes for the original kernel design to allow the capability to soft fork in impending features.

Once Burkett is done with the MMR logic, he would once again work on the block validation logic. Also, in March, he is planning to focus on the Node API.

Litecoin’s “Big Leap” in Expanding in South Korea

In other news, just before the month ended, Litecoin Foundation also announced a partnership with MeconCash to roll out LTC to Korean won (KRW) withdrawals and remittances from 13,000 ATMs in South Korea.

Lee described this partnership as “a big step toward expanding Litecoin’s footprint in the South Korean market.”

This partnership will also involve Litecoin integration into MeconCash’s M.Pay payments platforms, further allowing the customers to pay for games accepting M.Pay rewards.

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