Litecoin Core v24: A Major Technological Leap in the World of Cryptocurrency

On April 11, it was announced on Litecoin official tweet that Litecoin Core v24 has been launched under the leadership of its core developer David Burkett. The new version will add hardware support for MWEB, P2P support for light clients, support for “Watch only” wallets that can identify sent or received transactions without accessing private expenditure keys, and new payment certificates.

Litecoin has launched Litecoin Core v24 development

Introduction

Cryptocurrency enthusiasts and investors alike were thrilled to hear about the latest update regarding one of the most prominent coins in the market, Litecoin. On April 11, 2021, Litecoin officially announced the launch of its new version, Litecoin Core v24. This update is expected to deliver new and improved features that will enhance the performance of the Litecoin network. Under the guidance of the core developer, David Burkett, Litecoin Core v24 is set to revolutionize the world of cryptocurrency. In this article, we will delve deeper into the latest updates brought by Litecoin Core v24.

Hardware Support for MWEB

The most significant feature of the new Litecoin update is the addition of hardware support for MimbleWimble Extension Block, or MWEB. MimbleWimble is a protocol that enables anonymous transactions without revealing the amount involved in it. The MWEB extension block is a new feature that allows users to conduct transactions without sacrificing privacy. In simpler terms, it enables Litecoin to provide an even higher level of privacy to its users. The MWEB feature is a significant addition, considering the growing demand for privacy in cryptocurrency transactions.

P2P Support for Light Clients

Litecoin Core v24 is the first version of Litecoin to offer peer-to-peer (P2P) support for light clients. Light clients are users who do not wish to store the entire blockchain of Litecoin on their devices. P2P support enables the light clients to access the blockchain and participate in transactions. With this feature, users can transact with Litecoin without having to download the complete data of the Litecoin network. This development will greatly benefit mobile users with limited storage capacity on their devices.

“Watch Only” Wallets

Another exciting feature that Litecoin Core v24 brings is the “Watch Only” wallets. These wallets allow users to track the transactions associated with their wallet addresses without accessing the private expenditure keys. In other words, the user can access the details of sent or received transactions without risking the security of their funds. This feature benefits those who want to check the status of their cryptocurrency accounts without having to worry about accessing their private keys.

Payment Certificates

Payment Certificates are digital certificates owned by the payee that are used to prove the address to which the funds are to be paid. The addition of Payment Certificates in Litecoin Core v24 enhances its usability as a payment method. Payment Certificates are a powerful tool in terms of security, reducing the risk of fraudulent activities, and making transactions more secure and efficient.

Conclusion

The launch of Litecoin Core v24 is an exciting development in the world of cryptocurrency. The newly added features, including hardware support for MWEB, P2P support for light clients, “Watch Only” wallets, and payment certificates, have created a new level of functionality and security for users of Litecoin. The upgrade puts Litecoin at the forefront of cryptocurrency technology, and it only shows that the future of cryptocurrency will be stunning, with innovations being introduced from time to time.

FAQs

1. What is Litecoin Core v24?
Litecoin Core v24 is the newest update to the Litecoin network, featuring new features such as hardware support for MWEB, P2P support for light clients, “Watch Only” wallets, and payment certificates to enhance its functionality.
2. What is MWEB?
MimbleWimble Extension Block or MWEB is a protocol that enables anonymous transactions without revealing the amount involved in it.
3. How will Payment Certificates affect Litecoin users?
Payment Certificates are a powerful tool in terms of security, reducing the risk of fraudulent activities, and making transactions more secure and efficient.