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Litecoin's Charlie Lee to Double Every Donation on MimbleWimble Implementation

Wed, 12/04/2019 - 16:56
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Vladislav Sopov
The love story between MimbleWimble and Litecoin will be a long and productive one. Now everyone can participate in the funding initiative with Charlee Lee!
Litecoin's Charlie Lee to Double Every Donation on MimbleWimble Implementation
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Shortly after Lead Developer of the Grin blockchain and MimbleWimble (MW) protocol David Burkett disclosed the status of MW's implementation onto the Litecoin (LTC) network, Communication Manager Ilir Gashi of the LTC Foundation announced a fundraising initiative to support Mr. Burkett's work.

Every Litecoin Helps, Every Litecoin Matters

While announcing the progress, Mr. Burkett mentioned that there are some funding issues. Mr. Burkett says that he is extremely excited about the fact that the LTC Foundation had "graciously decided" to fund his efforts at implementing the MW extension block, as well as continuing the work on Grin++.

Shortly after the developmental update, the Litecoin Foundation officially announced the launch of the Litecoin Confidential Transactions - a dedication fund. All of the money collected within the framework will be spent towards sponsoring David Burkett and his implementation of the Extension Block and the MimbleWimble code for Litecoin. According to Ilir Gashi:

The plan is for David to work 30 hours a week. This will be split into 15 hours for Grin++ and 15 hours for MimbleWimble via Extension Blocks. We believe that this will be a mutually beneficial arrangement because Grin++ code will eventually be forked onto Litecoin’s Extension Block. Therefore any development in Grin++ will be immediately beneficial to Litecoin.

In short, everyone can donate his/her BTC and LTC for privacy improvement on the Litecoin network. The goal of this proposal is to raise $6,000 per month for 12 months, or a total of $72,000. 

Charlie Lee to Bootstrap the Crowdfunding

During the first hours of the campaign, numerous members of the LTC community made donations. At the moment of writing this article, more than $5,800 has been raised. Therefore, Mr. Burkett shouldn't worry about compensation for at least the first 29 days of his work.  

Yesterday, Litecoin Foundation's Managing Director Charlie Lee said that he personally endorses this initiative. Mr. Lee also said that he will redouble every donation:

111.07 LTC and 0.00284 BTC have already been donated! (~$5133) We are almost 1/10 of the way to the goal.

I am going to do a donation match towards this donation drive. At the end of every month, for every LTC/BTC donated, I will match the same amount.?

— Charlie Lee [LTC⚡] (@SatoshiLite) December 3, 2019

Charlie Lee Will Redouble Every Donation For MW Implementation
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This act of generosity will repeat on a monthly basis. This shows one more time the passion and dedication of LTC governance to the idea of MimbleWimble implementations.

Has your work ever be crowd-sourced? Tell us your story on Twitter!

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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 (, Monoreto, Attic Lab etc.)