Is MimbleWimble Risky for LiteCoin?
Is MimbleWimble Risky for LiteCoin?

By Yasin | Kripto | 24 Oct 2019


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Litecoin creator Charlie Lee, Grin developer David Burkett, and LTC developer "ecurrencyhodle", published the draft proposal of applying Mimblewibmle to Litecoin to be solution to the issue of privacy and scalability.

 

Litecoin developer "ecurrencyhodler" says in his tweet:

Although this indicates a very positive change for Litecoin, it may also cause it to be removed from some major crypto exchanges. As is known, major crypto exchanges in Asia such as Coincheck and Upbit; they delisted privacy-based coins, such as Monero, ZCash and Dash, and seriously undermined their trade.

The much-discussed travel rule of the Financial Action Task Force (FATF) required crypto exchanges to obtain and record the information of their customers' cryptocurrency transactions and received a very serious reaction. This law, of course, also hit the privacy-oriented cryptocurrencies. To comply with this, OKEx exchange terminated trade of 5 privacy-oriented coins.

The current situation is not good for privacy-oriented coins. Litecoin, who wants to pass MimbleWimble wagon, which everyone wants to ride in these days, may also be exposed to unwanted investigations despite positive view of the cryptocurrency world. Because total supply cannot be audited, regulators could cause trouble to cryptocurrencies.

 



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