CryptocurrencyCryptocurrency Exchanges

Litecoin’s Mimblewimble Undergoes Issues 2-Days After Update Activation

A stumbling block appeared 2-days after they deployed the MWEB’s update on Litecoin. Two South Korean crypto exchanges have warned investors about a severe flaw. They made the comments on Monday by Bithumb and Upbit. They are the top two crypto exchanges in South Korea by volume. That comes when large investors keep a watch on Litecoin. But in anticipation of a bullish reaction to the next update.

Secret Data For Transaction

Upbit claims that LTC is a watchdog that warns investors. They ended the Mimblewimble update with a selection mechanism that hides transactions. Upbit worked on their network access to payment support criteria.

The crypto exchange stopped supporting cryptos with technologies that make transfer records unreliable. Investors are looking for shelter in multi-cryptocurrency investment products for huge withdrawals. As a result, Bithumb recently gave an investment notice for Litecoin. 

They added the cryptocurrency to a list of recognized investment caution items. The MWEB development block upgrade improves Litecoin’s scalability. It also offers an upgraded Confidential Transaction feature. The exchanges referenced South Korea’s SFT Act. 

The law mandates cryptocurrency exchanges to undergo the KYC process. But, that is beside the AML requirements. In a tweet on the Mimblewimble upgrade, LTC developer Charlie Lee stated that MWEB takes you 90% there. For the most part, this is enough. 

Glass vs. windowed houses is different privacy. No windows in a house might provide full privacy for those who need it. A possible LTC delisting might be a huge setback for the asset’s investors following the news. It traded at $72.92, an increase of 1.06% over the previous 24-hours, based on CoinMarketCap data.

The MWEB Protocol’s Functionalities

The MimbleWimble protocol adds secret Litecoin transactions. Furthermore, the protocol removes unneeded data from trade blocks. Litecoin will be launching MWEB on the 19th of May, according to Charlie Lee, the founder of Litecoin. 

Charlie Lee expects the MWEB to go live on the 19th of May. To commemorate the activation, they’re considering hosting a webcast event. They also promise to make more information available soon. David Burkett, the principal developer of LTC, told node administrators to upgrade to v0.21.2. 

Although, that is before Mimblewimble activates if they decide to use MWEB. Re-synching the network from the beginning will be necessary if you stand in line. But that will be until after Mimblewimble activation before upgrading your system.

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