MimbleWimble magic finally kicks in on Litecoin

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MimbleWimble magic finally kicks in on Litecoin

The MWEB (MimbleWimble Extension Blocks) protocol has been activated on the Litecoin network, when block 2,257,920 of its blockchain was reached.

Members of the Litecoin (LTC) team streamed the MWEB activation live on May 19. Among them was its founder, Charlie Lee. Litecoin software version 0.21.2 has been smooth after activation of MimbleWimble.

However, since these are important changes in the protocol, its users need to be careful to avoid significant losses of money when using LTC.

MWEB was activated on Litecoin by means of a soft fork or soft fork. This means that nodes on the network that do not update to the latest version of the software will still be compatible, just without the newly added enhancements.

CriptoNoticias reported the progress of MWEB in Litecoin since its addition to the newly released version was announced, years after the intention to add this improvement to the network was announced.

In the early hours of May 3, more than 75% of Litecoin nodes showed their approval of the initiative to add MimbleWimble to the Litecoin protocol. In fact, in addition to MWEB, Taproot is also part of the new update. This protocol, already active in the Bitcoin network, considerably improves the scalability and privacy of the network.

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MimbleWimble and Extension Blocks could not reach Litecoin separately

MimbleWimble is a solution originally designed to be implemented in Bitcoin. Its author, following in the footsteps of Satoshi Nakamoto, used a pseudonym in the white paper of the protocol, where he introduces himself as Tom Elvis Jedusor; which, together with the name of the protocol itself, hinted at his fondness for the saga of novels written by JK Rowling, Harry Potter.

The same author explains that the name of his invention stems from the intention with which it was created. “I named my creation MimbleWimble because is used to prevent the blockchain from talking about all user information«. This is because wimble wimble is the name of a spell used in the novel mentioned above to tie the victim’s tongue so they can’t talk anymore.

MimbleWimble owes its origin to a couple of previous proposals on which its creator was based: CoinJoin, by Gregory Maxwell, and Blinding Factors, by Nicolas van Saberhagen. Its main focus is, like Taproot, improving privacy and scalability. of Bitcoin.

Extended blocks: the link that united Litecoin and MimbleWimble

In the case of the Litecoin update, the MimbleWimble implementation includes a modification that the original version does not have. These are Extension Blocks (EB), which works very similarly to that of a sidechain. (side chain).

“This LIP –Litecoin Improvement Proposal– presents Extension Blocks (EB) as a way to implement new protocols to Litecoin without the need to alter the consensus rules.”

Litecoin GitHub repository

Extension blocks, as EB technology might be called, they can hold and transfer LTC to them from the Litecoin main chain and vice versa. This, according to its promoters, makes this network much more private and efficient.

The main objective of adding EB to Litecoin is to be able to implement MimbleWimble as an optional improvement to its users, that is, without the need to carry out a hard fork or hard fork that would affect network security.

The combination of MimbleWimble, Extension Blocks and Taproot, which are three improvements focused on scalability and privacy, promise a significant technological advance for Litecoin.

However, there are those who do not see MimbleWimble as practical in all cases. One of them is the renowned developer Adam Backwho considers that this protocol would require a lot of work to incorporate into Bitcoinwhile the advantages it offers are very few, in his opinion.

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