• Lead developers at Litecoin have confirmed the official release of Mimblewimble Extension Block upgrade. 
  • The upgrade boosts the security and privacy of transactions on the Litecoin network. 
  • The Litecoin community can activate the upgrade at the end of the signaling process, locking in the activation date. 
  • Analysts have evaluated the Litecoin price trend and predicted a bullish breakout. 

Litecoin developers revealed the altcoin’s latest upgrade – an improvement to security. Analysts hold a bullish view on Litecoin price. 

Litecoin’s upgrade ready to go live with Core 0.21.2 release

After years of development and testing, Litecoin’s MimbleWimble Extension Block (MWEB) upgrade was released on January 31, 2022. David Burkett, the lead developer behind the MWEB project, has confirmed that the extension block is included in the Core 0.21.2 release upgrade. 

The new upgrade enhances the Litecoin network’s security and boosts the privacy of transactions on the blockchain. This enables confidential transactions on Litecoin's network.

Litecoin’s new core release includes the privacy-enhancing Taproot upgrade alongside MWEB. 

Quarkslab, a security and code auditing company, reviewed MWEB and commented:

The protocol provides valuable new security enhancements about the privacy of transactions on the blockchain.

The next step in the process involves the Litecoin community signaling its readiness for MWEB activation; once miners meet the threshold, a date will be locked in. The MWEB upgrade will go live on the set activation date, boosting the privacy of transactions on the Litecoin network. 

Analysts who have evaluated the Litecoin price trend, have noted it is forming a massive 256-week bullish divergence against Bitcoin. 

@misconfig_exe, a pseudonymous cryptocurrency analyst, believes that a five-year divergence between growing relative strength at the current price may look bearish at the surface; however, it is the sign of a bullish breakout. The analyst has predicted a rally in Litecoin. 

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Cryptos feed Join Telegram

Recommended content


Recommended Content

Editors’ Picks

Scam Alert: How to avoid trouble on Terra’s LUNA 2.0 airdrop

Scam Alert: How to avoid trouble on Terra’s LUNA 2.0 airdrop

The LUNA hard fork is set to occur on May 28, followed by the subsequent airdrop of LUNA 2.0 tokens to eligible holders. Ahead of the real LUNA 2.0 airdrop, some scammers have tried to lure LUNA and UST holders to send their assets in lieu of receiving the new tokens. 

More Terra News

Bitcoin Weekly Forecast: On-chain metrics support multiplying downside threats

Bitcoin Weekly Forecast: On-chain metrics support multiplying downside threats

Bitcoin price consolidates above a weekly support level after the LUNA-induced crash on May 12. This coiling price action could cause BTC to trigger a move to the downside, further deepening the woes of investors.

More Bitcoin News

This Web3 move by Crypto.com could be a good bet for patient investors

This Web3 move by Crypto.com could be a good bet for patient investors

Crypto.com price stabilization on a high time frame chart indicates that a bottom formation could be taking place. This pattern combined with a bullish signal from a momentum indicator adds credence to the possibility of a reversal and a recovery rally for CRO.

More Crypto.com News

Why Elon Musk’s tweet failed to move Dogecoin price

Why Elon Musk’s tweet failed to move Dogecoin price

Dogecoin price slipped up as Bitcoin price triggered a sudden crash on May 26. This downswing, while serving as a great opportunity to accumulate DOGE, failed to recover alongside BTC.

More Dogecoin News

Bitcoin: On-chain metrics support multiplying downside threats

Bitcoin: On-chain metrics support multiplying downside threats

Bitcoin price consolidates above a weekly support level after the LUNA-induced crash on May 12. This coiling price action could cause BTC to trigger a move to the downside, further deepening the woes of investors.

Read full analysis

BTC

ETH

XRP