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Charlie Lee Claims LTC’s MimbleWimble Addition Scales Better Than BTC

Charlie Lee, the creator of the Litecoin (LTC) network, has already made it clear that he plans on pushing LTC into the privacy coin niche within the near future. To do this, Lee had brought it one David Burkett, a developer of Grin, to help LTC bring in the MimbleWimble (MW) protocol as well as adding extension blocks for privacy and scalability within the network.

Lee: Scalability And Fungibility Is King

Lee noted that fungibility was a critical facet of money, one that has been missing in Litecoin for quite some time. Lee explained this through an interview he had done, where he noted that MW integration would make half the progress needed to achieve this.

Burkett had already been working on the development of the extended MW block. He announced the project’s start back on the 29th of December, 2019. Lee explained that the integration of the MW protocol would act as a soft fork. One of the main concerns of most modern coins, Lee states, is the scalability. Lee, however, claims that the new MW protocol scales better than Bitcoin.

Better Scaling Than BTC

The reasoning behind this comes from a further statement from Lee. He explained that MW scales better than LTC and BTC due to the fact that it can do compact transactions. It’s also capable of throwing away the inputs and outputs, making it quite capable of scaling, Lee said. Lee even called its process “Impressive,” as he explained it.

Bitcoin Trading Volume Dropped in December on Major Crypto Exchanges

Burkett had already informed the community as a whole that he plans on restructuring the core logic that’s shared between the Litecoin network and Grin ++. These features include serialization, error handling, shared data structures, and cryptography. The plans for this new year for the Litecoin network hold a few objectives for the developers. Some of these objectives include things like determining building methods, moving database implementation to libmw-core, a partial redesign of Grin++, and defining all the models for LTC.

World Without End

It’s good to see the majority of the crypto networks trying to redefine themselves and develop themselves to try and offer the most optimal form of crypto possible. Growth is always good, and the real death of the world is stagnation. Litecoin hasn’t been the most up-to-date with the new surge of DeFi technology, but nonetheless, Litecoin is trying to develop its own niche. Where this will go, time can only tell.

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      A journalist, with experience in web journalism and marketing. Ali holds a master's degree in finance and enjoys writing about cryptocurrencies and fintech. Ali’s work has been published on a number of cryptocurrency publications.