Charlie Lee, the founder of Litecoin, informed the crypto community of the upgrade’s progress through Twitter, noting that AntPool was the first mining pool to signal for the MWEB upgrade. The tweet from Mr. Lee can be found below.
The MWEB upgrade, like all others on the Litecoin network, requires 75 percent of miners to signal for it to be deployed. At the time of writing, 20 mining pools have indicated that they will upgrade to Litecoin. This figure reflects 0.25 percent of the network’s miners.
Signaling for the MWEB update will continue until the 75 percent miner threshold is reached, according to the Litecoin team.
If this does not happen within a year, the upgrade will be applied automatically on the Litecoin network. As a result, between now and February 2023, the MimbeWimble update will be active on the Litecoin network.
The MimbleWimble upgrade will bring secret transactions to the Litecoin network once it is successfully implemented. This means that Litecoin users will have the option of employing MimbleWimble to hide transaction information.
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