- The collaboration will allow extension blocks into the Litecoin blockchain and will support the conversion of Litecoin (LTC) into MW.
- Bean Privacy is a cryptocurrency project that has been developed on the Mimblewimble protocol.
Litecoin and Beam Privacy have recently announced a partnership that will see both companies implement the Mimblewimble. This will allow extension blocks into the Litecoin blockchain and will support the conversion of Litecoin (LTC) into MW and vice versa. This implementation will affect Litecoin’s first layer as opposed to its sidechain.
The collaboration comes after Litecoin founder, Charlier Lee announced that the network will be looking into privacy and fungibility in 2019. Both network’s will benefit from this partnership as they align themselves with the set goals.
“We believe that Beam’s implementation of Mimblewimble and Litecoin, in general, will be better due to the collaboration and peer review process.”, as reported by Beam’s Keyser Söze Guy Corem, “It will take probably over a year to implement, and a lot of high-caliber open source devs will review it.”
Charlie Lee shared more about the collaboration on Twitter saying:
“Litecoin dev team spent hours discussing how to add Confidential Transactions. The way to do a softfork CT is very similar to doing extension blocks and extension blk may be simpler and can do a lot more. We are now also exploring doing bulletproof MimbleWimble w/ extension blks.”
Bean Privacy is a cryptocurrency project that has been developed on the Mimblewimble protocol. The protocol is specifically designed to support privacy, fungibility as well as scalability.
At the time of press, Litecoin is trading at $33.28 after 1.49% rise on the day. The declines yesterday found support at $32.40. An attempt to recovery has failed short of $33.60. Litecoin is supported by the 50-day Simple Moving Average (SMA) marginally above $32.20.
BTC/USD 15′ chart
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