Clearly, we are in an extended “winter” period for both currencies. So, the bottom line still seems to be as goes Bitcoin, so will Litecoin, at least for the foreseeable near term. Investopedia says that the rise and fall correlation with Bitcoin is clearly due to Litecoin’s founders’ choice for this to continue. Nevertheless, Litecoin still has a 90% correlation with Bitcoin, according to Coinmarketcap’s stat page on LTC crypto. This MWEB feature certainly makes LTC crypto stand apart from Bitcoin and other digital payments-oriented cryptos.
After all, it is an opt-in feature, and only those who want their transactions to be concealed will have this done. So far Litecoin has resisted this in an attempt to make sure its currency has broad appeal around the world. It takes away from the decentralized nature of Web 3.0 and some governments fear it could facilitate massive amounts of criminal activity. However, privacy coins and crypto obfuscation technology like Mimblewimble have come under scrutiny in some corners. This increases its appeal as a transactional currency, store of value and for use by many more merchants. The Foundation believes that having this key MWEB technology will allow Litecoin to be considered “sound money” in the long run. That way large amounts of money can be transferred and kept secret. The Mimblewimble Extension Block, also known as MWEB, allows users to opt-in as needed to conduct confidential transactions. But others fear that it could spur criminal activity, including currency washing within the blockchain network. Some consider this essential for the growth of cryptocurrency and the blockchain, especially in relation to business and personal account security.
#Mweb litecoin upgrade
This new upgrade will allow certain transactions to be kept private yet still be verified as valid to each end user in the transaction. For example, every transaction on the crypto blockchain is open to all investors and viewers to see. Mimblewimble Extension Blockchain (MWEB)Īccording to CoinTelegraph online magazine, this upgrade allows privacy-oriented transactions on the network. 31, the Litecoin Foundation announced a “pivotal new upgrade” called Mimblewimble was launched. Since the beginning of the year, Litecoin has slowly been making progress in creating new partnerships and implementing upgrades.
So you can see that Litecoin’s upward trajectory is highly correlated with that of Bitcoin. 24 along with Litecoin, it has slowly drifted up to over $42,448 as of Feb. Since hitting a trough price of $33,519 also on Jan. Ask any questions if you have some.Litecoin is not likely to pull out of its slump this year until Bitcoin’s turnaround appears to be on track. I’m really happy LTC has this feature now! Just bought some LTC today for celebration :).
#Mweb litecoin full
I hope Electrum wallet (light version – no full blockchain download needed) is updating this feature soon. Show all addresses with label “”: litecoin-cli getaddressesbylabel "" Point binary folder to PATH: export PATH="/home//Downloads/litecoin-0.21.2/bin:$PATH"Ĭreate new wallet and starting the daemon (prune mode, only needs ~3.5gb of space): litecoind -prune=550 -wallet onlymweb -daemonĬheck balance (needs some time if daemons starts for the first time): litecoin-cli getbalance → Should be “0.0000”Ĭreate one mweb address with label “”: litecoin-cli getnewaddress "" mweb
How it works on Linux after downloading the cli core wallet:
Otherwise it might happen that the wallet collects the amount you want to send in normal addresses too (but I don’t know at this point). I would create a new wallet and only create “mweb” addresses there. is interested how this works on the cli wallet here we go:
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