MWEB, which stands for MimbleWimble Extension Block, is a significant upgrade proposed for the Litecoin network.
MimbleWimble is a blockchain protocol that was proposed to enhance privacy and scalability. It achieves this by using a different method of structuring transactions than is used in Bitcoin and Litecoin.
MimbleWimble uses a concept known as “blinding factors”, which allow the sender to encrypt the amount of cryptocurrency they are sending, without hiding the fact that the transaction is valid. This helps to maintain the integrity of the blockchain while enhancing user privacy.
In addition, MimbleWimble is designed to be more scalable than traditional blockchains. This is because it uses a process known as “transaction cut-through”, which removes certain data from previous transactions, significantly reducing the amount of data that needs to be stored on the blockchain.
MWEB is an upgrade that integrates the MimbleWimble protocol into Litecoin as an optional feature. This means that users have the choice to use MWEB and take advantage of the increased privacy and scalability it offers, or continue using the standard Litecoin protocol. This proposal is part of Litecoin’s ongoing effort to position itself as a leading privacy-focused cryptocurrency.
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