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Litecoin relaunches MimbleWimble testnet as Europol targets privacy protocols

Litecoin relaunches MimbleWimble testnet as Europol targets privacy protocols

Litecoin (LTC) has relaunched its MimbleWimble testnet — a protocol designed to reinforce privateness and obfuscate the traceability of distributed ledger transactions.

MimbleWimble is a modified implementation of the proof-of-work algorithm underpinning Bitcoin (BTC) wherein blocks seem as a single giant transaction, stopping the person inputs and outputs referring to the transactions from being recognized.

David Burkett, the lead developer of the MimbleWimble protocol for Litecoin, will now focus making it simpler for “non-technical Litecoin customers” to start testing to performance, along with ironing out points of the code which might be “fragile.”

Burkett is focusing on full activation of the protocol someday subsequent 12 months, noting in a Telegram channel that will probably be all the way down to Litecoin’s miners and node operators to determine “when or even when they need to activate.”

LTC’s MimbleWimble testnet was beforehand launched on September 30, however was postponed as a consequence of low neighborhood participation.

Litecoin’s MimbleWimble progress comes as regulators more and more look to crack down on privacy-enhancing crypto asset applied sciences, with Europol calling out privateness cash and naming decentralized marketplaces, cryptocurrency mixers, and anonymizing wallets among the many high on-line organized crime threats.

In its ‘Web Organised Crime Risk Evaluation’ for 2020, Europol asserts that “privacy-enhanced pockets providers utilizing coinjoin [..] have emerged as a high risk,” citing Wasabi and Samurai’s respective wallets as examples. Wallets that use Coinjoin combine the cash of a number of customers partaking in separate transactions, successfully offering a decentralized mixing service.

Europol asserts that the operators of darknet marketplaces are more and more shifting to combine coinjoin wallets onto their platforms.

Europol additionally notes that whereas Bitcoin remains to be the dominant foreign money throughout darknet marketplaces, Monero (XMR) is rising as the most well-liked privateness coin, adopted by Zcash (ZEC), and Sprint (DASH). The report recognized Litecoin and Ethereum (ETH) as the 2 hottest altcoins on darknet marketplaces.

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