Litecoin’s Charlie Lee Shares December Update on MimbleWimble Progress

Litecoin [LTC] began the year the on a strong note after Charlie Lee’s announcement of focusing on privacy and fungiblity in the network.

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Nevertheless, with the halving and other adoption developments with American Football teams and so on the team’s focus shifted from the protocol update.

However, in the past few months lot of update has notified by the Foundation. Starting with the endorsement of Charlie Lee as a fundraiser for the project lead, David Burkett was one of the most prominent developments.

Burkett tweeted in his daily update,

December progress update: Design published, coding started, libmw is born, and much more. Read all about it here: litecointalk.io/t/mimblewimble…

December Monthly Update on MimbleWimble Development (Source)

Under the terms of engagement, Burkett will continue to release these reports by the end of each month until the development is finished.

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Charlie Lee seems to ratify the updates, he tweeted,

Fundraising for the Litecoin Confidential Transaction Fund is going strong. We are 1/4 of the way there. But we still need your help #LitecoinFam. Thanks!

The core team’s focus on adoption, privacy and decentralization have been well appreciated in the past. Mati Greenspan, crypto and financial analyst on notes that it has a ‘strong community.’ For long term stability, network effect and adoption will play a strong role.

Nevertheless, as of now, Litecoin’s network has been reeling under pressures from miner capitulation post halving this year.

The price of Litecoin [LTC] at 15: 00 Hours UTC on 30th December 2019 is $42.5.

What do you think will cause the next bullish reversal or bearish continuation on Litecoin? Please share your views with us.

Nivesh Rustgi: Nivesh from Engineering Background is a full-time Crypto Analyst at Coingape. He is an atheist who believes in love and cultural diversity. He believes that Cryptocurrency is a necessity to deter corruption. He holds small amounts of cryptocurrencies. Faith and fear are two sides of the same coin. Follow him on Twitter at @nivishoes or mail him at nivesh(at)coingape.com
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