MimbleWimble technology will be implemented in Litecoin

The development team has published two proposals to improve its structure on the Litecoin public network. They are both related to privacy in the popular cryptocurrency system, where information is stored on a public blockchain with access to transaction data.

Litecoin (or LIP) improvement proposals have been numbered 0002 EB and 0003 MW. Changes to the code allow introducing MimbleWimble technology into the system, which will make information about the exchange confidential, but at the same time will not break the structure of transactions. Privacy will be created through special extension blocks. They will be created parallel to the main chain, and the interval for adding to the blockchain will be 2.5 minutes.

With the advent of cryptocurrencies such as DASH, Zcash, and Monero, as well as external blockchain solutions to create privacy, users expectations for digital currencies have skyrocketed. Online stores and exchange platforms can collect user data and then transfer it into the hands of cybercriminals. To avoid this, public transactions need protection.

The block in the MimbleWimble system does not contain detailed information about the owner, his address and the amount of LTC transferred. An improvement proposal will take effect if at least 75 percent of the Litecoin network users vote for it.