Tuesday, June 6

Litecoin released its big upgrade called “Mimblewimble”

After almost two and a half years of development, Litecoin has finally released its update called “Mimblewimble”, which will allow privacy-focused transactions on the network.

The integration of Mimblewimble into Litecoin occurred via the Mimblewimble Extension Block, also known as MWEB. Which allows network users to opt for much more confidential and secure transactions. MWEB lead developer David Burkett said the update will improve Litecoin’s viability as a cryptocurrency that can be used for everyday transactions, such as paying employee salaries and even buying real estate.

Mimblewimble is a decentralized protocol focused on privacy. The origin of the name of this protocol is given by a spell from the Harry Potter book series. The MWEB protocol has as its main function the confidentiality that allows users to hide the information of the transactions.

At the time of writing, Litecoin is trading at $109.71, according to CoinMarketCap.
At the time of writing, Litecoin is trading at $109.71, according to CoinMarketCap.

The Litecoin network launched its first Mimblewimble testnet in October 2020. After experiencing an initial delay due to low community engagement.

Private cryptocurrencies that promote anonymity have come under scrutiny around the world. Various exchanges removed the cryptocurrencies Monero (XMR), Zcash (ZEC), and Dash (DASH) from their platforms in early 2021 amid a wave of regulatory pressure.

Despite being one of the first cryptocurrencies to hit the market. Litecoin has struggled to maintain its prominence over the years. Litecoin is currently located at position 22 in the market capitalization ranking. With a total capitalization of $7,699 million dollars, according to CoinMarketCap.


Mimblewimble was designed and introduced in 2016, by an anonymous developer named “Tom Elvis Jedusor”. This name refers to the French translation of “Voldemort”.

Mimblewimble provides a framework for a Blockchain that offers scalability, fungibility, privacy, and anonymity. This net takes its name from the popular “tongue-tying” spell from the Harry Potter book series. The spell binds the victim’s tongue to prevent them from revealing specific information, the Mimblewimble protocol literally works like the spell, as the protocol allows transaction information to remain completely anonymous.

In addition to anonymity and private transactions, Mimblewimble’s technology places a strong emphasis on fungibility and scalability of the network, key features that many other Blockchains currently lack. The Litecoin Foundation believes that the integration of Mimblewimble into its network will benefit Litecoin’s status as “solid money”. Which is a broad concept that refers to stablecoins that are less susceptible to depreciation and the influence of regulatory monetary policies.

Mimblewimble’s feature of complete anonymity of transactions is in contrast to the protocol of Bitcoin and other cryptocurrencies, where the sender’s address, the amount of cryptocurrencies sent, and the recipient’s address are usually revealed. Mimblewimble does not disclose any of this information.

MimbleWimble Coin is currently traded on various exchanges including Bitforex, Hotbit, TradeOgre, and Whitebit.