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Litecoin (LTC) Community Managed to Raise $12K to Fund MimbleWimble Implementation

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Thu, 01/30/2020 - 20:40
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Vladislav Sopov
The implementation of the MimbleWimble obfuscation protocol to the Litecoin (LTC) network is among the most exciting development initiatives of 2019. Will it continue in
Litecoin (LTC) Community Managed to Raise $12K to Fund MimbleWimble Implementation
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The Litecoin (LTC) Foundation reported an update on the crowdfunding for the MimbleWimble implementation into the ‘Blockchain Silver’ mainnet. 

Joint efforts for privacy

The Litecoin Community has reported in its unofficial Twitter that 138 Litecoins (LTC) and 0,03 Bitcoins (BTC) were donated to the initiative in the first month of 2020. At print time, this sum exceeds $12,000.

Moreover, as U.Today previously reported, Charlie Lee, the founder of the Litecoin Foundation will double every donation to the MimbleWimble implementation monthly. So, the total amount of funds raised is about $24,000.

Too much or not enough?

According to previous statements by Charlie Lee, developer David Burkett will work 30 hours a week. This will be split into 15 hours for Grin++ and 15 hours for MimbleWimble via Extension Blocks.

Mr. Burkett will get compensated $6000 monthly. Combined with previously raised money, the community has therefore managed to pay for the first five months of his progress.

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About the author

Blockchain Analyst & Writer with scientific background. 6+ years in IT-analytics, 3+ years in blockchain.

Worked in independent analysis as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)