Litecoin (LTC) continues to make progress in implementing the MimbleWimble anonymity solution. The effort is notable, at a time when regulators are more and more strict with privacy cryptocurrencies.
A testnet from MimbleWimble for Litecoin
The news was announced in a blog post in recent days. Development teams explain that MimbleWimble’s testnet is now live. Called “ MimbleWimble Extension Block” (MWEB) , it had already been put online on September 30, but did not allow MimbleWimble to be activated due to lack of blocks. The developers therefore hope to be able to activate it in the coming days.
David Burkett, Head of MimbleWimble for Bitcoin System, explains that the goal now will be to make this anonymity feature accessible to all users , including those without special technical knowledge.
Litecoin teams want to activate MimbleWimble on the mainnet during the year 2021 . Burkett explained that the next few months will be used to consolidate the code and then find the limits of the testnet in order to reveal the loopholes. The solution will then be applied to the entire network.
Litecoin relies on anonymity
The implementation of MimbleWimble by Litecoin is important. It shows that the altcoin has made a crucial choice: to side with the pro-anonymity camp . Since last year, cryptocurrencies that offer privacy options have indeed been particularly attacked. Monero (XMR) was recently targeted by a premium from the US tax service, which offered $ 625,000 to anyone who managed to unmask transactions in XMR.
Faced with this, some altcoins have become more discreet about their anonymity options. Dash (DASH) has thus made it known in recent days that it should no longer be considered as an anonymous altcoin … Trying to make people forget its PrivateSend functionality in the process.
The upcoming arrival of MimbleWimble at Litecoin therefore sends a strong message. If it in turn offers anonymity options, the altcoin will also find itself under the crossfire of regulators of all stripes … The coming months will therefore be crucial for privacy cryptocurrencies.