Daily Cryptocurrency – Fintech – Blockchain – Finance News

Litecoin News #1: imToken Integration, BitGo Support, MimbleWimble Funding

Jan 6, 2020 | Cryptocurrency

There are always behind-the-scenes developments affecting different cryptocurrencies. In the case of litecoin, a lot of interesting things have taken place in the past few days.

imToken Support has Arrived

Experienced cryptocurrency enthusiasts will be familiar with imToken. It is a different type of cryptocurrency wallet. One of its core features is how it supports multiple chains. To remain relevant, the project continues to add support for different chains and currencies. 

In the most recent update, imToken enabled support for litecoin and a few others. This addition brings the total of supported major public blockchains to 8. Users can create a new wallet with ease, or important their existing mnemonics. Offering more solutions for LTC users is always a welcome development.

BitGo Multisignature Support

The litecoin Foundation is still firing on all cylinders. A few days ago, it confirmed how BitGo is chosen as their multi-signature custody solution. In doing so, the Foundation ensures all funds under their control is safe from harm. 

https://twitter.com/LTCFoundation/status/1213025202407260160

Not all community members are pleased with this decision. This is primarily due to BitGo enabling support for bitcoin cash and bitcoin sv. Those currencies have nothing to do with litecoin, however. 

Privacy Support Development

Over the past few months, litecoin’s core protocol has come under review. It appears that core developers want to introduce a layer of privacy. Several approaches can be taken to achieve this particular goal. 

Right now, the team is working on integrating MimbleWimble. It will be introduced through an extension block solution. To further advance the development of this project a lot of money is needed. Costs are estimated at $72,000, albeit that number is not finalized.

Charlie Lee is contributing to the funds. He has donated roughly $10,000 to keep things going.  More contributions are needed to reach the required threshold, however. Some people may feel that Lee should cough up the entire amount. After all, he sold LTC at the top in 2017 and pocketed decent profits. 

Images courtesy of their respective sources.

Fintoism is not providing financial or investment advice. All content published on this platform is for entertainment and educational purposes only.

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