Litecoin Developers To Integrate Mimblewimble Technology
Employees of the Litecoin Foundation, together with Israeli Beam startup specialists, who developed their own cryptocurrency with the same name, began to explore the possibility of introducing the Mimblewimble technology into Litecoin, according to the blog of the Israeli company.
Currently, developers from both companies are working on the ability to convert regular Litecoin into the Mimblewimble variant and back. After such a conversion, crypto owners will carry out secure transactions with Mimblewimble LTC with complete confidentiality, experts state.
The authors of the joint project stress that they will publish reports on the intermediate stages of work on integration on their blogs.
The Mimblewimble project became known in 2016. Since the beginning of its development, it has focused on protecting private clients' data and the Bitcoin blockchain scalability. The Beam specialists applied the Mimblewimble protocol to develop and issue their cryptocurrency in early January 2019, although it was initially assumed that another cryptocurrency called Grin would be issued.
According to CoinMarketCap on February 8, 05:44 (UTC), Litecoin ranked sixth in terms of market capitalization ($2 billion), the price of the cryptocurrency was $33.72. The Beam cryptocurrency was 310th, with a market cap volume of $6.2 million and the price of $1.25.
As previously reported, the 60-millionth crypto coin appeared on the Litecoin network on January 12, 2019. In total, more than 70% of LTC has already been mined from possible emissions.