- There are concerns regarding the impact of Litecoin's MimbleWimble
- Users will decide whether to complete transactions using the system
- Blocks with user protected transactions will be included in the chain
Recall that in a recent interview, the creator of Litecoin , Charlie Lee, talked about the latest protection system on the network. The Litecoin community got to know the details of the integration of the protection system known as MimbleWimble. The MW protocol now works on the LTC blockchain . Now, users have expressed concerns about how it will affect Litecoin users . Various questions haveraised during Lee's interview regarding how the new solution can be used. The community was particularly concerned about whether or not user transactions were protected by default. Below is an overview of what the creator of Litecoin had to say about the new transaction protection solution.
Latest Litecoin LTC update - Users will decide whether to transact with the system
To answer this question, Lee pointed out that users will be able to decide whether or not to make transactions using the new protection system. This model is already practiced in Zcash where users can decide whether to protect their transactions or not. The purpose of this is for more privacy. Another subject addressed by the LTC executive concerned the new model of exchange litecoin . Lee knows that at the start it will be difficult. He is also aware that certain portfolios will not be compatible with the new functionality of his network. And exchanges must update their platform to allow users to take advantage of the new protocol. Here's what Lee said:
“Initially, using Litecoin after implementing MimbleWimble can be difficult. This is why we call it a learning curve. Not all user portfolios will support the protocol from the start. Because it's a soft fork, the whole ecosystem won't have to worry until it wants to. "
Blocks with user protected transactions will be included in the chain
Lee also answered questions about hidden inflation, because greater confidentiality would mean controlling how much LTC is moved and how they are moved. This could lead to inflation risk due to the additional cryptocurrencies. Lee was able to reassure the community about this. According to Lee, blocks with protected transactions will be included in the chain. Therefore, even if someone tried to attack the aforementioned blocks, the bug would not spread to the entire blockchain. The good thing about LTC space is the expansion block for LTC. He would be isolated by himself. This means that if something happens to it, it will not infiltrate the main network because the user will not be able to withdraw more tokens.
