Litecoin Miners Prep for MimbleWimble as LTC Price Eyes Recovery
Litecoin [LTC] is enhancing its blockchain capabilities with the integration of the MimbleWimble protocol for improved privacy and scalability, along with plans to introduce several other enhancements. This upgrade comes as Litecoin price shows signs of recovery, potentially fueled by renewed interest in the network's future.
The Litecoin network decided to take a backseat paving the way for the emergence of other cryptocurrencies. However, the devs weren’t sitting still. The network has been actively developing behind the scenes.
MimbleWimble Integration: A Game Changer for Litecoin?
The MimbleWimble integration process required miners to extend support by carrying out signaling. The network required a total of 75 percent to lock in MW. LTC As Guy Corem, co-founder at DAGLabs said, MimbleWimble will be approved by the Litecoin community if the upgrade sees 6,048 nodes signaling for its activation.
We have proposed a draft of two Litecoin Improvement Proposals to implement MimbleWimble through Extension Blocks. These Extension Blocks will allow Litecoin to benefit from MimbleWimble's enhanced privacy features without fundamentally altering the existing Litecoin blockchain.
Miners Signal Support: Near Full Readiness
In a recent tweet, Lee affirmed that Litecoin mining pools that were representing 95 percent of the total hash rate were almost ready for the big upgrade. This significant level of support from the mining community is a crucial step towards successful MimbleWimble activation. Here's what you need to know about the upgrade progress and its potential impact on Litecoin's price.
The increasing miner readiness coupled with the anticipation surrounding MimbleWimble could be contributing to the observed recovery in Litecoin's price. As the launch date approaches, keep an eye on Litecoin's network activity and price movements.