LITECOIN AND BEAM FOUNDATION HAVE ANNOUNCED A PARTNERSHIP
As reported by the creators of the cryptocurrency Beam in their blog, representatives of the Litecoin Foundation are interested in the possibility of integration Litecoin into Mimblewimble technology, which allows to obtain maximum anonymity of transactions.
In theory, Mimblewimble provides users with complete anonymity, which is achieved by encrypting transaction values using “blinding factors”.
“Promoting privacy in the cryptocurrency space is one of our priorities. Therefore, we will be glad to cooperate with Litecoin Foundation and hope that it will be effective,” Beam said in a statement.
A joint team of developers of both cryptocurrencies has already started to study the possibility of ensuring the privacy of transactions by converting ordinary LTC into their LTC-Mimblewimble and vice versa:
“As soon as we achieve the compatibility of these two cryptocurrencies, after converting LTC into Mimblewimble-LTC, transactions will be carried out in complete anonymity.”
The Creator of the Litecoin cryptocurrency Charlie Lee announced his intention to implement support for confidential transactions, last week.