Litecoin is a peer-to-peer Internet currency that allows instant payments, with “ZERO” payment fees. Litecoin is an open source, fully decentralized global payment network with no central authority. Network mathematics and empower individuals to take control of their own finances.
On May 19, 2022 Litecoin launched an update that is Mimblewimble. MW (Mimblewimble) is a blockchain design that enhances scalability and privacy. It organizes and stores transaction data differently compared to a Proof-of-Work chain. Mimblewimble also makes Litecoin transactions private to outsiders. Therefore, MW does this by masking on-chain addresses and data.
Example of MW (Mimblewimble)
- Transaction 1: Kevin sent Revian 10 LTC.
- Transaction 2: Revian then sent Ochak 5 LTC.
- In this case, Revian and Ochak can see that 5 LTC has been transferred in transaction 2. However, Ochak cannot say that revian received 10 LTC from Kevin. Ochak is an outsider of transaction 1. Similarly, Kevin will not know that Revian sent Ochak 5 LTC, because he is an outsider for transaction 2.
Litecoin has a long history almost like BTC and XRP. LTC can survive from year to year and from various economic shocks. Even though in 2022 LTC has dropped to the top 20, but LTC can be considered a historic coin with a value below the market.
Technical analysis
LTC is currently on the trendline (blue line) which if rejection occurs it will bounce up towards the target price of $86. If the trend line (blue line) is broken, there is a high probability that LTC will go to the target price of $ 71.5 (support)
