The Litecoin [LTC] network made a comeback with the announcement of MimbleWimble [MW] this year. Years after the initial announcement, the LTC network finally shared an update about the MW integration. This privacy-centric blockchain protocol is expected to spruce up the network while upholding the ethos of the crypto-verse. Now, as the network inches closer to the full roll-out, an array of miners were extending support to speed up the process.
The Litecoin Foundation took to Twitter and announced that the MimbleWimble protocol was officially locked in.
The crypto-verse made its debut to uphold decentralization. With the emergence of an array of cryptocurrencies, most of the projects these days are heavily centralized. Litecoin, however, has exerted that it is extensively decentralized and it even went on to prove this with its latest upgrade.
The MimbleWimble integration process required miners to extend support by carrying out signaling. The network required a total of 75 percent to lock in MW. The LTC Foundation detailed,
“You got it. We’re upgrading Litecoin, since we’re decentralized, everyone needs to agree. The miners show their acceptance by signaling.. once we hit 75% it is locked in.”
Just a while ago, LTC managed to attain this figure.
This would further mean that Litecoin would most likely be processing MimbleWimble transactions in the coming weeks.
Will Litecoin bag any gains?
Updates and additions to a network quite often boost the price of the native cryptocurrency. As a result, the community expected some change in the price of Litecoin. Just a year ago, the altcoin was painted green after it peaked at an all-time high of $412. Now, LTC is 75 percent below this number. During press time, LTC was worth $100.75 with no major changes in its price over the last couple of hours.
From residing in the coveted top 10 to plummeting down to 22nd rank, Litecoin was spiraling. However, several in the community speculated that MimbleWimble would come as a saving grace to the Litecoin network.