Litecoin (LTC) MimbleWimble Protocol to Launch Testnet This September, Main Dev Says

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Wed, 06/03/2020 - 12:32
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Vladislav Sopov
MimbleWimble is a privacy-focused protocol for obfuscating Litecoin (LTC) transactions. Its developer David Burkett has shared an updated roadmap of MW implementation
Litecoin (LTC) MimbleWimble Protocol to Launch Testnet This September, Main Dev Says
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David Burkett, the evangelist of the MimbleWimble privacy protocol, has published another monthly update. He unveiled a detailed roadmap for Q2-Q3, 2020, and revealed the date of the testnet launch.

MimbleWimble testnet is on the menu

According to Mr. Burkett, he has finished the implementation of MW blocks logic. Now, once the block is received, the blockchain validates it and the UTXO set is updated.

May dev update for MimbleWimble protocol is released
Image via Twitter

Also, he has started work on the mempool logic, which is one more significant step towards the integration of MimbleWimble into the Litecoin (LTC) network. Now, Mr. Burkett has a clear progress plan for the next three months.

In June, he said, the protocol will start mining valid chains with MW blocks to assure the integrity of blockchain operations. In July the initial block will be downloaded in a specific MW manner with fragmentary transactional history and UTXO data.

After some final tuning in August, September is set as the preliminary date for the testnet launch.

Charlie Lee welcomes the progress

Founder of Litecoin (LTC) Charlie Lee warmly appreciated the progress of MimbleWimble implementation. He highlighted the community-driven essence of MimbleWimble funding and expressed his gratitude to all sponsors.

Charlie Lee appreciated community-driven efforts to fund MW implementation
Image via Twitter

As previously reported by U.Today, MimbleWimble, a privacy-focused protocol that will obfuscate transactions in the Litecoin (LTC) network is created by Grin developer David Burkett.

His $6,000 compensation is collected by the donations of Litecoin (LTC) enthusiasts. Charlie Lee doubles every donation accepted.

According to the semi-official project forum, 972.8 LTC have been raised at press time, 727 of which are sent to Mr. Burkett.

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About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

2,500,000 Ethers Locked in Ethereum 2.0 Deposit Contract as ETH Rejected From $1,250

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Fri, 01/15/2021 - 18:02
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Vladislav Sopov
Ethereum 2.0 enthusiasts deposited whopping sum in its contract launched six weeks ago
2,500,000 Ethers Locked in Ethereum 2.0 Deposit Contract as ETH Rejected From $1,250
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While crypto markets are trying to get out of the most painful correction in this bullish cycle, the Ethereum 2.0 deposit contract accomplishes another crucial milestone.

ETH2 deposit contract surpasses $3,000,000,000 level

According to leading Ethereum network observer Etherscan, the Ethereum 2.0 deposit contract (0x00000000219ab540356cBB839Cbe05303d7705Fa) allocated more than 2.5 million Ethers. New 32-ETH stakes are transferred to it every minute.

ETH2 deposit contract breaks above $3B
Image by Etherscan

As the correction of the Ethereum (ETH) price ended, ETH is changing hands at $1,225: the $1,250 level was too difficult for bulls to conquer. Meanwhile, even at press time, it is worth almost $40,000 to join the club of Ethereum 2.0 stakers.

Therefore, the USD-denominated value of assets locked in the contract surpassed $3 billion for the first time ever and keeps surging.

It should be noted that Ethereum 2.0’s deposit contract went live on Dec. 1, 2020, heralding the start of ETH2 Pase Zero or Beacon Chain, the inaugural stage of Ethereum 2.0.

Ethereum 2.0 “entry tickets” become really expensive

At press time, more than 52,267 addresses transferred money to the deposit contract.

Ironically, Black Thursday in Crypto (March 13, 2020) was the most convenient time to join Ethereum 2.0 staking with Ether at $95. Today, Ethereum (ETH) enthusiasts should pay 13 times more to have a minimum amount of Ethers required for staking.

Ethereum 2.0 is a proof of stake (PoS) iteration of the Ethereum (ETH) protocol. It replaces mining by staking and splits the whole Ethereum (ETH) network into several interconnected sub-chains (shards).

According to Staking Rewards analytical dashboard, annualized rewards for ETH staking are estimated between 10.4 and 10.6 percent.

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About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)