- Charlie Lee has been very vocal about Litecoin becoming a privacy coin.
- The creator of the project has taken on board a Grin developer David Burkett in order to integrate the MimbleWimble protocol.
The creator of the Litecoin protocol, Charlie Lee has been very vocal about the cryptocurrency becoming a privacy coin. The creator of the project has taken on board a Grin developer, David Burkett in order to integrate the MimbleWimble protocol and use different extension blocks to help scalability and privacy on the network. He highlighted that fungibility is one of the key aspects that had been missing from the cryptocurrency. Lee went on to say in a recent interview that the integration of the MimbleWimble protocol might get them a foot in the door.
Working on the extended protocol block, Burkett announced that the project started work at the end of December last year. He followed up on this adding that the integration of the new protocol will be brought in as a soft-fork. Scalability is the main concern from most cryptocurrencies on the blockchain. According to Lee, MimbleWimble is a much better scaler than bitcoin: “[The] nice thing about MimbleWimble is that it scales really well.”
He further went on to add that the protocol doesn’t sacrifice any of its scaleability to provide such new aspects to the project:
“In some sense, it actually scales better than Bitcoin [and] Litecoin today because of the ability to do compact transactions, to throw away inputs and outputs, the way it’s designed is actually very good for scalability and it’s quite impressive how it works.”
The developer told the community about his plans to restructure the logic to be shared with Grin++ and Litecoin. This includes many things including the common data structures, error handling and logging. Further plans for the developer say that Litecoin is including new methods for building in the New Year.
It will be interesting to see how this plays out. For more news on this and other crypto updates, keep it with CryptoDaily!