Mochu starts off with a quick price check on LTC...
Just checked the price of LTC , it is now at 57$.
LTC currently the 8th top coin in terms of Market Capitalization Image Source
Are you readers ready for part 2 of Litecoin story?. Me, Litecoin crypto cat narrator Mochu continues with the Litecoin news story, part one of which you can read it here, it was related to Litecoin price action of that day. Not much has changed, I guess, today I would explain the recent major developments happening in Litecoin.
Let’s warm up with some positivity first with the “Wonderful World” song
*Mochu's warm up for positive vibes after some sunshine *
I have been enjoying some sunshine along with my buddy cat Garu and it felt so refreshing as this song was echoing in my head, “I see trees of green, red roses too, I see them bloom, for me and you, and I think to myself, what a wonderful world and I think to myself what a wonderful world”.
This song is “Wonderful World” by Louis Armstrong. Well, it’s such a pleasant song, managing to put a smile on one’s face, so recommend you guys to hear the whole song, it would make you feel that the world is beautiful which is hard to believe these days.
Cat Garu too enjoying sunshine
Anyway… but definitely shine sun and positively brightens up our day, so pump up some positive feelings listening to such songs.
"Now after this positive warm up of emotions, lets begin our Litecoin, silver crypto news story."
The Mimblewimble protocol upgrade to the Litecoin Network is looming ahead
Image taken from this u.today article
A major upgrade is on the works to be implemented on the Litecoin Network by the end of September. This is the Mimblewimble protocol, which would give Litecoin privacy features while also enhancing the blockchain’s scalability.
Privacy feature in the Litecoin Network after this protocol upgrade
Privacy features would provide users of LTC(Litecoin) with a choice to perform transactions that would shield identities of both the sender and receiver of LTC valuing the user’s right of having financial privacy. Therefore, LTC may also appeal to users of other privacy coins such as Monero and Zcash.
Some exchanges have delisted privacy coins like Monero, Dash and Zash, mostly likely because of the stance of Financial regulators who don’t want privacy coins to be supported.
However, Charlie Lee, the founder of Litecoin says that LTC would not be delisted by exchanges because of the added privacy feature as this upgrade will be at an extension block which is on the side and not the main chain. So exchanges who don’t want to support the privacy upgraded version of Litecoin, just don’t need to support the extension block.
Reference article -: https://www.coindesk.com/litecoin-gets-bullish-speculation-at-last-as-upgrade-approaches
The Mimblewimble protocol to enhance scalability of Litecoin Network
Apart from this, the Litecoin network would become more scalable with the execution of the Mimblewimble protocol upgrade . This is because there will be no need to download huge amounts of data related to past LTC transactions with the application of the Initial Block Downloads. Here, transactions can be validated by just knowing the “chain state”, instead of needing to download logs of past transactional data.
The Mimblewimble protocol integration to the Litecoin Network, will happen first with a testnet launch somewhere in September end.
Fast Litecoin transactions possible now with the SegWit protocol upgrade
This Graphc is taken from this website >>
Meanwhile, the current slow transaction speed issues of the Litecoin Network is dealt with the use of the Segregated Witness (SegWit) protocol upgrade by many users . Segwit implementation speeds up LTC transactions by increasing block capacity.
Litecoin Price is definitely undervalued when considering its transaction metrics
There’s been an increase in network activity in the Litecoin Network, with more active addresses and confirmed transactions than in some previous bull runs, so it’s price is undervalued from it’s historical transactional price valuations.
Mochu exits to checkout some squirrel in the Balcony
Right readers I see Bitcoin Cat , Garu is looking at something interesting outside,
Cat Garu is enjoying doing some squirrel siteseeing
I think it’s a squirrel, so please excuse me, I am going to check out the scene too, we cats can’t resist the sight of birds and squirrels, hope you all understand!!. Bye, bye…
Mochu is off to the balcony for some siteseeing
“Mochu come back!!”, “Mochu, Mochu…” . Ok guys, taking over from here to conclude the article as cat Mochu is off and not responding to my calls. Just one announcement, that today’s Caturday Post is this post, because Mochu did not deliver this story narration before Saturday, damn,that cat has no bother to respect deadlines!! … So this is today’s crypto Caturday post, which I hope all enjoyed.
Thankyou