The Litecoin Undertaking, has introduced it’s working with David Burkett, a Grin++ developer, so as to add MimbleWimble assist to the Litecoin community. Litecoin Founder and Government Director of the Litecoin Basis Charlie Lee, made the announcement through twitter saying:
Updates on MimbleWimble progress: @davidburkett38, the primary developer of Grin++, is now working with @ecurrencyhodler and I on the design. We’ve been ironing out the mechanism of getting LTC out and in of MW/EB. Additionally discovered tips on how to deal with MW charges in a clear manner.
MimbleWimble (MW) is a protocol change that allows a handful of advantages, most notably confidential transactions (CT) and non interactive coin joins. Those that decide in to make use of MW on Litecoin would have their transaction values hidden and be combined amongst different community contributors, making it tougher for third events to trace and log exercise.
Grin++ is a fork of Grin the unique MimbleWimble protocol. It has, in accordance with the tasks github, a heavier give attention to safety, pace, reliability, modularity and scalability alongside the primary upstream department.
MW would supply a extra complete repair to the fungabilty drawback than CT alone, one thing Lee views as the one property of sound cash that’s lacking from Bitcoin & Litecoin. By leaping into MW it seems the workforce need to kill two birds with one stone and by utilising extension blocks (EB) we’d additionally see a community capability improve however it’s not sure how excessive the workforce will set this.
Burkett pro-actively reached out providing his companies following conversations over gradual MW progress. He responded to the announcement by thanking Lee and stating that his was wanting ahead to working collectively to convey monetary privateness to all. He additional went on to write down his personal weblog submit clarifying his intentions behind the collaboration stating:
I’m only a crypto-anarchist who occurs to spend his spare time growing another node and pockets for Grin. My final aim is monetary privateness for everybody, and I might love nothing greater than to see mimblewimble on Bitcoin itself. Getting MW added to Litecoin appeared like the apparent subsequent step.
Lee in return for Burkett’s work has offered a 1.5BTC donation to the Grin++ safety audit as a present of assist and due to these builders pioneering the MimbleWimble protocol.