Litecoin has been the crème of the crop in the cryptocurrency ecosystem this year with its recent associations and brand promotions with various high profile corporations. In the recent price valuation pump, Litecoin led the way with the highest percentage growth in price, about 30%, which has now made it the 4th largest cryptocurrency in the market.
The virtual currency was developed by Charlie Lee, of the Litecoin Foundation, who recently announced on Twitter regarding the implementation of MimbleWimble protocol to improve the virtual asset’s confidential transactions.
The announcement of MimbleWimble to be administered as an extension block in the Bitcoin blockchain was met by widespread appreciation by the community. It is in this light that Charlie Lee recently tweeted about extension blocks and compared the concept to that of sidechains.
Sidechains are security mechanisms that allow tokens and other digital assets from one blockchain to be securely used in…
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