Litecoin’s Mimblewimble Testnet Launch for Privacy Coming at the End of Summer (Q3)

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In the February update on Litecoin’s Mimblewimble progress, Grin++ developer David Burkett who is also working on adding privacy to Litecoin revealed the MW Testnet launch time — the end of the summer.

Burkett didn’t want to announce an exact date as he explains writing blockchain software is difficult, time-consuming, and unpredictable. Artificial deadlines could also force them to rush through parts of the code, said Burkett but believes it’s time to commit to the “first major event.”

As per this, Mimblewimble testnet launch would be happening in quarter 3 of this year which will include transaction pool, basic p2p messaging, all block and transaction validation rules, syncing, and the ability to mine blocks.

For now, a usable GUI wallet for users to test it out wouldn’t be involved and transactions are likely to be created manually.

Mimblewimble Progress

Litecoin creator Charlie Lee first renewed the idea of bringing fungibility and privacy to the Litecoin network in early 2019 and after going through various options, decided on implementing the Mimblewimble.

In February, Burkett shared that non-interactive transactions proposal went through a few design integrations that have now turned into a Litecoin Improvement Proposal (LIP). But because of the review, it would take some time before the LIP is safe enough to be accepted.

“Good progress” has also been made on the validation rules but Burkett still has much work to do here. Some modifications have been made to the original kernel design in order to support the ability to a soft fork in new features in the future.

In March, Burkett said he is planning to work on the Node API.

A “Big Leap” in South Korea

Apart from making progress on MW, last week, Litecoin Foundation announced a partnership with MeconCash. With this partnership, they rolled out support for LTC to Korean won (KRW) withdrawals and remittances in South Korea in 13,000 ATMs.

Moreover, it also involves Litecoin integration into MeconCash’s M.Pay payments platform and allowing customers to pay for games that accept M.Pay rewards.

This partnership Lee said “a big step toward expanding Litecoin’s footprint in the South Korean market.”

Litecoin price meanwhile is trading at $61.46 with 24 hours gains of 7.29% as the crypto market turns all green after last week’s sell-off.

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