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Litecoin (LTC) MimbleWimble: Non-Interactive Transactions Are Ready

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Sat, 02/01/2020 - 14:53
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Vladislav Sopov
David Burkett works on MimbleWimble protocol implementation for the Litecoin (LTC) network full-time only for two months but he has managed to achieve a crucial milestone
Litecoin (LTC) MimbleWimble: Non-Interactive Transactions Are Ready
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David Burkett, the developer of the MimbleWimble privacy protocol version for the Litecoin (LTC), released the second monthly dev update. It looks like he has made remarkable progress.

One-side transactions, database framework, security audit

Since the MimbleWimble protocol is utilized for obfuscating transactions, the most crucial achievement is reached in this room. Mr. Burkett disclosed that he had found a way to erase the need for the sender and receiver to communicate within the framework of the pending transaction. 

One-sided transactions for Litecoin via MimbleWimbleprotocol are ready, dev says
Image by Twitter

Previously, both the sender and receiver were required to stay online when sending LTC. Instead of this, the new proposal supports receiving Litecoins (LTC) via cold storage. Thus, it upgrades the possibilities of hardware wallets usage.

Furthermore, Mr. Burkett re-considered the database framework to enable coin-agnostic atomic updates across multiple tables. This feature has already been tested using Litecoin (LTC) specifications and block models.

Finally, the developer received and applied security audit results for Grin++, so, both Grin++ & libmw codebases became 'significantly better'.

Community applauded

The Litecoin (LTC) community supports the development efforts of Mr. Burkett by generous donations to compensate for his work. As U.Today reported previously, the Litecoin Foundation managed to collect $12,000 for the salary of Mr. Burkett while every dollar is re-doubled by Foundation leader Charlie Lee.

Since final compensation for the developer is $6,000 per month, this sum guarantees four more months of MimbleWimble development.

 
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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.)