Litecoin is one of the earliest alternative coins (altcoins) that came to light after Bitcoin (BTC). Created in October 2011, it is now the 20th most valuable cryptocurrency, boasting a market capitalization of over $4 billion, according to CoinMarketCap data.
The MimbleWimble upgrade was first conceived more than two years ago as part of the Litecoin Improvement Proposal. That was in November 2019, as the network started planning on enhancing anonymity between senders and receivers of a transaction on its network.
And now, the MWEB is finally out following approval from the majority of nodes. The upgrade was done at Litecoin’s block height of 2,257,920 and came with significant privacy feature changes to the Litecoin network.
But, there’s more to the MWEB than just the newly-added privacy features for LTC users. The MWEB also brings key improvements to activities on the blockchain. For instance, it helps reduce needless transaction data from the blocks to the barest minimum using its cut-through feature.
The cut-through feature ensures that long transactions are broken down into a single one. That is, instead of recording each input and output separately, the block would only record one input-output pair, thereby removing excess data.
Following long years of development and anticipation by its community, Litecoin (LTC) finally activated its MimbleWimble Extension Blocks (MWEB) upgrade on May 19. But, with the blockchain upgrade mainly focused on carrying out private transactions on the network, global regulations could undoubtedly be flouted.
South Korean regulations…