Home News Alt Coins Charlie Lee Hints Exploration of MimbleWimble Protocol to Introduce Privacy and Fungibility...

Charlie Lee Hints Exploration of MimbleWimble Protocol to Introduce Privacy and Fungibility Features

February 06, 2019 17:12
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"Litecoin IMG_3364" (CC BY 2.0) by btckeychain at Flickr
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The founder of Litecoin, Charlie Lee is mulling to introduce privacy and fungibility features to the digital coin, and it has sparked tremendous media attention.

But Litecoin Foundation’s Community manager Ilir Gashi clarified that there is no such specific time frame to introduce the privacy and fungibility solution to the digital coin, and this has somewhat mellowed down the excitement. It is expected that the release of the next nod will be completed by the end of 2019.

Lee took the Twitter account to announce the same, in which he tweeted:

“Litecoin dev team spent hours discussing how to add Confidential Transactions. The way to do a soft fork CT is very similar to doing extension blocks and extension blk can be simpler and can do a lot more. We are now also exploring doing bulletproof MimbleWimble w/ extension blks.”

The idea of MimleWimble is actually inspired by Harry Potter and the protocol is itself built created by Tom Elvis Jedusor. Other privacy coins such as Beam and Grin are also built on MimbleWimble protocol. Additionally, it uses an innovation called CoinJoin, that combines multiple payment info to form a single chain of the transaction, making it difficult for any outside party to know the source of payment. Further, it can help Litecoin with scalability and fungibility features.

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