Litecoin (LTC) founder Charlie Lee announced the date when the long-awaited MimbleWimble update will be activated in his statement on Twitter.
With this update, Litecoin senders will be able to send their own addresses and send cryptocurrency can hide the amount. Such features are found in privacy tokens such as Monero and Zcash.
However, Lee said the entire network is not yet ready for transition.
When Will Litecoin (LTC) MimbleWimble Update Go Live?
According to Charlie Lee’s tweet, the new update will be activated on 20 May 0:30 Turkish time.
Lee said new details will be announced later. However, Lee also stated that not all mining pools are ready to switch to the new update yet.
MWEB is currently estimated to activate on 5/19 8:30pm PT (5/20 3:30am UTC). We’re thinking of doing a livestream event to celebrate activation. Stay tuned for more details soon.
In the meantime, help us reach out to pools and miners. There are still some that have not upgraded!
— Charlie Lee Ⓜ️🕸️ (@SatoshiLite) May 16, 2022
A week or so ago, Lee called on the LTC community to notify mining pools that were not adapting to the new update. If these mining pools do not switch to the new system within two days, their mining operations will work for the wrong LTC blocks.
As known dogecoin and Litecoin miners work together and both coins run a joint mining program.
Charlie Lee said in his post on his Twitter page on May 5 that several blocks were successfully mined on the testnet, which included the update.
The developers had been working on the MimbleWimble update for 3 years.
David Burkett, one of the engineers working on the update and its future implementation, explained that 75% of Litecoin miners are prepared for the upcoming MimbleWimble update.
*Not investment advice.