Litecoin Receives Major Updates to Catch Up With Bitcoin Core, This is What Investors Have Been Waiting for

  • There will soon be a significant update to Litecoin Core, according to a recent update posted by the Litecoin Network.
  • Following the announcement, the value of Litecoin (LTC) has soared past the $95 barrier. After gains of over 8%, the asset skyrocketed to $96.

A significant update to Litecoin Core is already in the works, according to a recent tweet from Litecoin Network. Numerous new features will be added to Litecoin Core with the release.

According to creator David Burkett, among these features are PSBTs, which are designed to offer MWEB hardware support. The P2P Support for Light Clients, which comes after the other features, introduces mobile wallets and other user-friendly wallets. View Keys is another key feature that will support “watch-only” wallets.

Explaining how the “Payment Proofs” feature will work, the developer said the following ;

For conventional litecoin transactions, proving you sent money to an address could be accomplished by simply signing a message with your private key and pointing to the transaction on the blockchain that displays the source address (which you just proved you are the owner of), the destination address, and the amount. Since addresses and amounts are all encrypted with MWEB, a more difficult proof is required if you need to show an arbitrator that you made a payment. It describes this proof.

Start mining Litecoin with Bitman Antminer L3 ASIC – the profitable Litecoin ASIC

The Price of Litecoin (LTC) Reacts Positively to the Announcement

The developer also mentioned that updates to the (pre-MWEB) Litecoin code have been made. After submission, a code review detailing the developer’s progress will be conducted. The developer added that the entire process would go well into the summer and would yield a number of significant new releases.

The major deals for Litecoin Core will also include Descriptor wallets, which will build on the wallet code that Satoshi Nakamoto originally wrote. The developer came to a conclusion.

I have so far updated the v24 bitcoin code to include the pre-MWEB (classic) litecoin code changes, and I’m also fixing tests. Then, after adding the new features mentioned above, I’ll merge in the MWEB code that has already been made available. At the end of each step, I’ll submit everything for code review. Even though this will be a protracted process that last well into the summer, the end result should be a new release that is compatible with bitcoin core and has all of the much-anticipated MWEB features.

The recent announcement of the update appears to have had an impact on the price of Litecoin (LTC). Since the announcement, the Litecoin (LTC) market has experienced significant buying pressure, indicating that the bulls are still in charge. As a result of the announcement, Litecoin (LTC) has increased by 8.07% over the past 24 hours.

Our data shows that over 2% has been added to Litecoin’s (LTC) gains over the previous seven days. Litecoin as of the announcement time. (After overcoming the $95 resistance level, LTC) reached a high of $96.13.

But as of the time of publication, Litecoin (LTC) is back at $95. It follows the majority of alternative currencies, including Litecoin (LTC), moving into the danger zone. Altcoin is currently suffering 0.17% hourly losses as of the time of this report.

Scroll to Top