Litecoin’s MimbleWimble token will be ready by Q1/2021

The final code for Litecoin’s MimbleWimble protocol will be ready by the first quarter of 2021, according to the project’s lead developer, David Burkett, who updated on the progress via the following tweet:

“The code will be ready and consolidated by Q1 / 2021. The activation process will be decided by the user and the miner ”.

Working code is available on Github

Burkett explained that the activation timeline will be determined by the Litecoin community as well as by LTC miners. He also revealed that MimbleWimble’s active code is already on Github.

“I first tried to design securely to support one-way Mimblewimble transactions in January. After almost a year and about a dozen design revisions after that, we finally have the code working!”

LTC increased by 211% in quarter 4/2020

In terms of price, LTC quietly showed an impressive increase in Q4 / 2020. On October 1, LTC was trading at $ 45. Also known as the ‘younger brother’ of Bitcoin, LTC continued to hit a one-year high of $ 140 on December 27. This impressive 211% price increase also helped LTC quickly follow XRP from the No. 4 position on Coinmarketcap.

Price of LTC 1 week | Source: Coinmarketcap

Accordingly, this is achieved when XRP plunges to as low as $ 0.17 as exchanges like Coinbase, Bitstamp and Bittrex announce to halt this coin transfer next month.

LTC could provide an alternative for those who fear other altcoins are securities

At the time of writing, LTC is trading at $ 128.49 and has so far followed Bitcoin’s bullish momentum. The correlation between LTC and Bitcoin may be a reason for investors to consider LTC as they rebalance their holdings out of fear that some of their favorite altcoins will be viewed by the SEC as securities.

Traders and investors can also view LTC as the cheaper and faster version of Bitcoin as witnessed in 2017 and before LTC hit an all-time high of $ 375 on December 18 of the same year.

Furthermore, the addition of confidential transactions via MimbleWimble in 2021 could provide another reason for traders and investors to shift their focus to LTC.

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