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LTC Social Engagement Jumps 21% After MimbleWimble Activation

Binance Announces Suspension of Litecoin MWEB-based Transactions Altcoin News
  • The Litecoin community has recently approved the activation of the MimbleWimble protocol on the LTC mainnet.
  • This upgrade has led to a massive jump in overall Litecoin social engagement.
  • So far, Litecoin’s social engagement has increased by 21%, and even hit its highest point in the last three months.

The Litecoin community has recently approved the activation of the MimbleWimble protocol on the LTC mainnet.

MimbleWimble is a privacy-focused decentralized protocol that enables users to conceal transaction data with its confidentiality feature while providing a foundation for other blockchains to improve the usability of their token.

The Mimblewimble Extension Block (MWEB) hides three critical pieces of information: sender address, receiver address, and the amount of crypto sent.

With the Mimblewimble Extension Block, users can opt-in to confidential transactions. The goal of this is to enhance the visibility of Litecoin as a fungible currency that can be used for real-world transactions by lowering fees and adding privacy, throughput and scalability.

This upgrade has led to a massive jump in overall Litecoin social engagement, a parameter measured by analytics portal LunarCrush.

Social engagement, which is measured by discussions on a certain term, shows how actively a certain topic is being discussed on popular social media platforms.

Litecoin social engagement. (Source: LunarCrush)

So far, Litecoin’s social engagement has increased by 21%, and even hit its highest point in the last three months. Currently, Litecoin’s price is on the decline, but its increase in social engagement could reveal an upcoming surge in the price of LTC.

Litecoin (LTC) was launched in 2011 by Charlee Lee, and its main objective was to solve issues accompanied by Bitcoin. Litecoin is now one of the popular choices among merchants when accepting payments in crypto due to its fast settlement and meager fee.

Today, LTC’s price stands at $69.37. The coin also occupies the 18th position on CoinMarketCap’s list in terms of market cap.

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Danielle has a post graduate degree in Criminology. She is an active investor in the crypto space and is on a mission to learn more and share what she learns with the community.