Within just 24 hours, more than 41,000 new wallets with zero LTC in accounts have been integrated into the Litecoin Network, announced David Schwartz, the project’s director at Litecoin Foundation.
Litecoin Network Soon To Release Upgraded MimbleWimble
This announcement came at the time when the whole of the Litecoin community has been waiting for the launch of the upgraded version of MimbleWimble. According to the reports, the latest version of the software would strengthen the privacy and scalability of the Litecoin Network.
Schwartz, while making announcement mentioned that in the past 48 hours, around 87,000 addresses joined the Litecoin Network.
Since September 2019, Schwartz has been working as a project manager at Litecoin Foundation. Along with it, he is running his own company, Cornerstone Global Management, LLC, as a CEO. The crypto-based company deals in employee pay, influencer management and crypto education.
In early 2019, Cornerstone Global Management collaborated with Litecoin Foundation so that the former could use the Loafwaller and Litecoin wallet for its employee pay program.
Software Enhance Network’s Privacy
Regarding the MimbleWimble upgraded version, the Litecoin developer Charlie Lee has claimed that after its integration the Litecoin Network would provide better scalability to its users.
While further explaining the benefits of the upgraded version of MimbleWimble in an interview, Lee said that it would also enhance the privacy of the Litecoin Network.
He also discussed how with the help of the hidden inflation, popularly is known as battering privacy coins, the hackers are able to counterfeit N number of coins. But he assured that if the Litecoin Network faces this kind of risk then its team would look into the matter to manage it properly.
During his interview, Lee notified that only the extension block of MimbleWimble would be able to use the privacy features, that means it will not affect the Litecoin’s layer.
Lee, while praising Litecoin for its speed, said that since the time it has been generated, the cryptocurrency is perfect.
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