Litecoin‘s MimbleWimble protocol will be activated at the end of 2021
- Litecoin’s MimbleWimble protocol will be activated towards the end of the year.
- The Litecoin MimbleWimble code is currently being reviewed and audited by developers.
- The Litecoin team has asked interested developers to join the MimbleWimble Telegram channel to assist with the process.
Like Bitcoin, Litecoin is struggling to recapture the 200-day moving average as support.
- According to MimbleWimble lead developer David Burkett, who shared the progress of the project via Litecointalk yesterday, the activation of MimbleWimble’s highly anticipated Litecoin protocol is on track for year-end launch on the LTC mainnet.
More LTC developers needed to review MimbleWimble code
In his detailed update, Mr. Burkett highlighted that Litecoin’s MimbleWimble code has gone through many changes since it was first submitted to Github for review and moderation. He also noted that the project struggled to find enough developers to review the MimbleWimble code.
We are still struggling to get developers to review the libmw code. The code has changed quite a bit since the PR was first posted, so I’ll probably turn it off and create a set of new, smaller, and hopefully more digestible PRs in the coming weeks.
The Litecoin team has since asked global developers familiar with cryptography and studying C++ code to consider joining the MimbleWimble Telegram group to assist the process. More developer requests were made by the Litecoin team via the tweet below.
If you have experience with cryptography and reviewing C++ code, please join the MWEB developers telegram channel: https://t.co/rEjmluJY7Y
— Litecoin (@litecoin) June 3, 2021
Litecoin struggles to maintain its 200-day moving average
Regarding price action, Litecoin is mimicking Bitcoin as it tries to recapture the 200-day moving average (green), as seen in the chart below.
LTC is currently trading below the key moving average at $175.
It can also be seen from the chart that Litecoin’s trading volume, MACD, RSI and MFI all point to a weak buy scenario by LTC traders and investors.
Therefore, and as the weekend approaches, LTC may continue to consolidate below the $200 resistance and above the $118 local low set late last month. It is also worth remembering that the fate of LTC depends on the fate of Bitcoin and that BTC’s drop below $30,000 over the weekend could cause LTC to suffer further losses below the $118 low.