Litecoin's MimbleWimble Code Will Be Ready by Q1 of 2021

Summary:

  • Code to Litecoin’s MimbleWimble will be ready by Q1 of 2021
  • Activation will soon follow depending on the Litecoin community and miners
  • Litecoin has soared by over 211% in Q4 of 2020
  • Litecoin could continue to gain in the markets as investors look for digital assets that do not resemble securities

The final code for Litecoin’s MimbleWimble protocol will be ready by the first quarter of 2021. This is according to the lead developer of the project, David Burkett who updated on the progress via the following tweet.

The code will be ready and merged Q1 2021. Activation timeline will be decided by users & miners.

— David Burkett (@DavidBurkett38) December 28, 2020

Working Code is Available on Github

Mr. Burkett also explained that the activation timeline will be decided by the Litecoin community as well as LTC miners. He also revealed that there is already working code of Litecoin’s MimbleWimble on Github.

I first attempted to design a secure way to support one-sided mimblewimble transactions back in January. Nearly one year and a dozen or so design iterations later, we finally have working code!

(The code can be found here.)

Litecoin has Gained by 211% in Q4 of 2020

In terms of price, Litecoin has quietly exhibited impressive gains in the fourth quarter of 2020. October 1st found Litecoin trading at $45. Also known as Bitcoin’s little brother, Litecoin went on to post a one year high of $140 on the 27th of December. This is an impressive 211% increment in value that also helped Litecoin briefly edge out XRP from the number 4 spot on Coinmarketcap.

Regarding the latter, this was achieved when XRP dropped to as low as $0.17 due to selling associated with exchanges such as Coinbase, Bitstamp and Bittrex, announcing that they will be halting trading of the remittance coin next month.

Litecoin Could Provide an Alternative to those Fearing Other Altcoins are Securities

At the time of writing, Litecoin is trading at $126 and has been following Bitcoin’s bullishness thus far. The correlation between Litecoin and Bitcoin might provide a reason for investors to consider LTC as they rebalance their holdings in fear of some of their favorite altcoins being deemed securities by the SEC.

Traders and investors might also pick up on the notion that Litecoin is a cheaper and faster Bitcoin version as witnessed in 2017 and before LTC went to post an all-time high of $375 on December 18th the same year.

Furthermore, the addition of confidential transactions via MimbleWimble in 2021 might provide another reason why traders and investors will shift their focus towards Litecoin.

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