Litecoin is being reformed. The MimbleWimble technology will be included in the projects. The process is reportedly running smoothly and there are no delays regarding the launch of the test network, which is expected to take place at the end of this month. This was confirmed by the Litecoin Foundation in its new announcement.
- The test version of the new LTC network is to be launched at the end of September
- MimbleWimble will be part of it.
Litecoin faster and safer
MimbleWimble is a technology that provides greater network privacy. Litecoin founder Charlie Lee said it would allow his cryptocurrency to handle more confidential transactions soon.
Privacy isn't the only advantage of MimbleWimble, however, as project manager David Burkett adds in the August update. The team has even created a new synchronization process that will result in faster transactions on the Litecoin network. This will be possible thanks to an innovative block processing model. He also pointed to the introduction of changes to the code to make it "cleaner" and strengthened before the market release.
Everything is well on its way to the test network becoming available later this month. I'm still thinking about a few final details, but later this month I will give you more information about what the test network will look like and how anyone can get involved in it , Burkett added.
Institutional investors
It is not only the Litecoin community that sees the potential of the new technology. Institutional investors note the potential benefits that MimbleWimble brings to Litecoin as a long-term investment.
We already have a Litecoin-based fund on the market, which is part of Grayscale's products designed for accredited investors to gain exposure to cryptocurrencies. Their total value is billions of dollars and they can be traded on the open market as an over-the-counter product similar to traditional stocks.
Litecoin's price is currently around $ 47, which means it's on the same level as the day before. The same can be seen in the BTC rate chart.
