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Blog

Date:
07th Oct 2020
Author:
CryptoAltum Research Team

Litecoin to Relaunch Mimblewimble

Litecoin, in an announcement on Oct 6, said it shall relaunch mimblewimble citing poor participation in the previous attempt. The upgrade was initially set for early Oct but few miners participated. Mimblewimble will introduce privacy and improve performance making Litecoin the largest cryptocurrency network by market cap to enhance its privacy.


Details: 

Privacy is paramount in crypto circles. With MimbleWimble, Litecoin will be the largest network by market cap to introduce privacy features and improve its transaction performance. Coincidentally, their move comes at a time when European authorities continue to express their concerns with privacy-centric coins, wallets, and marketplaces.


Impact on the LTC price: 

Bullish. Although Litecoin transactions count is relatively low, MimbleWimble combined with the recent launch of a blockchain game to take advantage of low transaction fees in Litecoin, will spark demand which in turn will prop up LTC prices.


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