Litecoin developer David Burkett says he’s discovered a breakthrough that could solve a major bottleneck hindering confidential transactions.
Burkett, who is working to integrate the privacy technology MimbleWimble on the Litecoin Network, says he’s found a new method that will allow users to transfer LTC without the need to be in constant contact with one another.
“The biggest difficulty with using MW is the need for sender and receiver to communicate, which requires receiver to be online when sending. My proposal, along with an updated version of the write-up that will be released soon, eliminates that need.
This removes a major UX hurdle, limits long-term maintenance requirements, and supports receiving via cold-storage, making hardware wallets easier to support.”
This month, Burkett says he plans to begin implementing the rules that will enforce how transactions are validated and begin testing private transactions on the network in earnest.
The Litecoin Foundation’s is raising funds to pay for the research and implementation of the privacy technology. Litecoin creator Charlie Lee says he will match every donation that comes in.
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Featured Image: Shutterstock/LevLev
