Beam Privacy has announced an upcoming implementation of Mimblewimble as Extension Blocks into Litecoin to provide private transactions for users of the 7th biggest coin by market cap.
We recently reported that Litecoin Founder, Charlie Lee hinted at a privacy feature for Litecoin in 2019. In our initial report, we speculated on the method the project might adopt in implementing confidential transactions even though it had not been finalized according to Community Manager, Illir Gashi.
In a recent announcement in a blog post, Beam Privacy revealed it will collaborate with Litecoin to implement Mimblewimble as Extension Block into Litecoin.
Beam Privacy intends to add privacy and fungibility to Litecoin by allowing on-chain conversion of regular LTC into Mimblewimble variant of LTC and vice versa. This means that once applied, conversion from LTC to LTC-MW and back will be possible.
This update expected to be an extension of Litecoin’s first layer, not a sidechain. The implementation will be an open source and with a permissive license.
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