Litecoin developers are urgently solving the main issues as MimbleWimble testnet is near
Mempool’s logic to deploy MimbleWimble on Litecoin has created a region a little more complicated than previously anticipated, causing underlying code modifications for this aspect.
Testnet focused on MimbleWimble will launch in September 2020 and is one of the most awaited features for the larger Litecoin ecosystem.
In the June update for MimbleWimble deployment, project leader and Grin developer David Burkett has published details of the protocol’s progress since last month, the issues that developers face, and some important mitigations.
The Litecoin MimbleWimble June update is here!https://t.co/BSr7axdRDh
— Litecoin.com (@LitecoinDotCom) July 5, 2020
Burkett said, “a very minimal implementation that supports newly compiled MW transactions,” but the code to support the exploitation of expansion blocks, where MimbleWimble transactions are stored, has been implemented.
More testing is needed before deployment. Burkett noted that “there are some difficult edges,” while writing about concerns about storing Mimblewimble block data in a separate database.
Having two separate databases could lead to a series of problems in the future, which would cause the inability to create atomic updates, thereby making the databases out of sync, Burkett explained.
“This can lead to a range of problems, even possible issues that can be exploited by remote attackers.”
Due to these concerns, Burkett decided to take some time to modify the code to serialize and re-serialize MW blocks and transactions to disk.
The roadmap is still on track
Burkett revealed the group had built part of their work using the platform for strengthening SegWit to support additional data without making major changes to the existing mass storage format.
This means that the upgraded nodes have saved important expansion block data to disk into the same place where they were saved without having to introduce additional databases.
“Adding support for sharing simple transactions over the p2p network is relatively easy, this is the first step towards the goal of processing MW data in July as part of the Initial Block Download”.
The post has confirmed that MimbleWimble’s deployment is still on track, with July seeing the initial block download, August is scheduled for Chain reorg logic and September with Activation logic and testnet launch.
MimbleWimble was first proposed in 2016 to fill security holes in the Bitcoin protocol.
Luno added Litecoin to its trading platform
In the context of adoption, crypto exchange platform operator Luno has added Litecoin, which is the fourth digital asset approved by the Securities Commission Malaysia (SC), for its trading platform.
?? Important announcement for our Malaysia customers ??@Litecoin is now live in Malaysia! ?
— Luno (@lunomoney) July 6, 2020
In a statement, Luno said Malaysian customers would be able to buy, sell, store and learn more about this digital asset from July 7.
Luno’s customers already access to Bitcoin, Ethereum, and XRP in Malaysia before.
David Low, Luno’s general manager for Southeast Asia, said:
“These are uncertain times, but LTC’s instant and near-zero cost transactions are undoubtedly the characteristics that have contributed to increased interest in this digital asset.”
“We list only digital assets that are safe, secure, and have the utility benefits our customers want, that’s why we introduced Litecoin after seeking approval from the Malaysian Securities Commission.”
Luno further explained that although LTC and Bitcoin have some similarities, there are two main differences between the two: LTC has four times the new block, meaning it has a shorter confirmation time (2.5 minutes compared to 10 in the Bitcoin network).
Luno is the first regulated digital asset exchange approved by SC. To date, it has processed transactions worth RM32 billion globally.
- Litecoin Has Seen A Steady Increase In Its Value Over The Last Month, But Down By Over 46 Percent Since Its 2020 High
- Litecoin Foundation Announces New Partnership With Videogame Maker Atari