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Litecoin's Long-Expected MWEB to Activate May 19: Charlie Lee

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Tue, 05/17/2022 - 12:25
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Yuri Molchan
Founder of Litecoin has shared planned date of MWEB activation, which will turn LTC into another privacy coin, but there is a small catch
Litecoin's Long-Expected MWEB to Activate May 19: Charlie Lee
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Litecoin founder Charlie Lee has taken to Twitter to announce the expected date when the long-awaited upgrade, MimbleWimble, will be activated.

This upgrade will enable senders of LTC to hide their address and the amount of crypto they transfer, similarly to the way privacy coins Monero and Zcash operate.

However, the entire network is not ready for this event.

Estimated date of MWEB activation, not all miners are ready

Lee tweeted that the estimated day and time of the MimbleWimble (MWEB) activation are May 19, 8:30 p.m. PT or May 20, 3:30 a.m. UTC.

More details are coming soon, according to his tweet. However, he also said that not all pools and miners have upgraded to the MWEB.

A week ago, Lee also asked the Litecoin community to spread the word to the pools and miners that had not upgraded yet. Unless they do it within two days, they will be mining invalid LTC blocks.

On May 5, the founder shared on his Twitter page that several blocks had already been mined on the testnet successfully.

The MimbleWimble upgrade had been developed for almost three years.

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A month ago, according to one of the IT engineers who had been working on the upgrade and its future implementation, David Burkett, 75% of LTC miners were preparing for the upcoming MWEB activation.

The upgrade was expected to become active at block height 2,265,984.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.