fxs_header_sponsor_anchor

Litecoin price jumps after MimbleWimble update enables confidential transactions

  • Lead developers at Litecoin have confirmed the official release of Mimblewimble Extension Block upgrade. 
  • The upgrade boosts the security and privacy of transactions on the Litecoin network. 
  • The Litecoin community can activate the upgrade at the end of the signaling process, locking in the activation date. 
  • Analysts have evaluated the Litecoin price trend and predicted a bullish breakout. 

Litecoin developers revealed the altcoin’s latest upgrade – an improvement to security. Analysts hold a bullish view on Litecoin price. 

Litecoin’s upgrade ready to go live with Core 0.21.2 release

After years of development and testing, Litecoin’s MimbleWimble Extension Block (MWEB) upgrade was released on January 31, 2022. David Burkett, the lead developer behind the MWEB project, has confirmed that the extension block is included in the Core 0.21.2 release upgrade. 

The new upgrade enhances the Litecoin network’s security and boosts the privacy of transactions on the blockchain. This enables confidential transactions on Litecoin's network.

Litecoin’s new core release includes the privacy-enhancing Taproot upgrade alongside MWEB. 

Quarkslab, a security and code auditing company, reviewed MWEB and commented:

The protocol provides valuable new security enhancements about the privacy of transactions on the blockchain.

The next step in the process involves the Litecoin community signaling its readiness for MWEB activation; once miners meet the threshold, a date will be locked in. The MWEB upgrade will go live on the set activation date, boosting the privacy of transactions on the Litecoin network. 

Analysts who have evaluated the Litecoin price trend, have noted it is forming a massive 256-week bullish divergence against Bitcoin. 

@misconfig_exe, a pseudonymous cryptocurrency analyst, believes that a five-year divergence between growing relative strength at the current price may look bearish at the surface; however, it is the sign of a bullish breakout. The analyst has predicted a rally in Litecoin. 

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.


RELATED CONTENT

Loading ...



Copyright © 2024 FOREXSTREET S.L., All rights reserved.