Litecoin price up over 12% after core devs announce possible MimbleWimble implementation

Cryptocurrency • February 8, 2019, 10:05AM EST
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Within the past 24 hours, the price of litecoin has increased by more than 12%. Litecoin is now the fourth-largest cryptocurrency by market cap on CoinMarketCap, passing EOS. This price increase comes after a blog post revealed that the Litecoin Foundation and Litecoin core developers have approached BEAM, a company implementing the MimbleWimble privacy protocol, about "possible cooperation to implement MimbleWimble via Extension Blocks on Litecoin."

MimbleWimble is a privacy protocol that obfuscates transactions sent on a blockchain. Extension Blocks aim to enable a network to optionally support different kinds of blocks on a blockchain. With Extension Blocks implemented on Litecoin, users can theoretically convert their standard litecoin to MimbleWimble variants of litecoin, leveraging the privacy features provided by MimbleWimble.

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Steven Zheng profile picture Steven Zheng

Steven Zheng is a researcher for The Block. He joined The Block in August 2018. Steven graduated from St. John’s University with a degree in economics. Previously, he covered blockchain and crypto at Radicle, a startup analytics firm. He also had brief stints at Cheddar, a media startup, and Bowery Capital, a venture capital firm. He owns bitcoin. Follow Steven on Twitter at: @Dogetoshi

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