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Tuesday, October 4, 2022

Litecoin integra MimbleWimble, Cash App Incorpora Lightning Network

Hello everyone, my name is Pablo, welcome to our weekly crypto news summary. MimbleWimble joins Litecoin and it shoots your price The renowned crypto announced that it will implement MimbleWimble a new blockchain protocol that increases anonymity in transactions.

As a result of this Litecoin happened to be the fourth most valuable cryptocurrency according to Coinmarketcap. The name of the protocol is taken from Harry Potter and was presented by a user with the name of “Tom Elvis Judisor” which is the version French by Tom Riddle. One of the names that the supervillain had Voldemort throughout the series. MimbleWimble allows you to encrypt the amounts of bitcoin of each transaction.

So only those who send or can see them they receive a transaction. In addition, MimbleWimble adds another technology: CoinJoin. This group many transactions in one to make it difficult to identify the individual transactions and their recipients. This makes a difference with the transparent model of Bitcoin where all this information is public. In short, this new protocol goes up the level of opacity of the network and the to Monero, the most anonymous crypto by default that exists today. Litecoin usually deploys new features before Bitcoin and fulfils a function, more or less, of testnet. This also generates a benefit since takes advantage, before his older brother, market speculation.

In this case, he had an increase of 14% of his value in a single day. Mimblewimble is also being used in Grincoin and Beam, two new cryptocurrencies that come calling attention in these last days. Venezuela breaks the exchange record of Bitcoin This figure increased by 30% and reached its maximum historical.

The data is from the exchange platform peer to peer, LocalBitcoins. The volume amounted to 8 million 900 thousand dollars between February 2 and 8. This coincides with the deepening of the economic crisis of the Caribbean country and the Increased tension among supporters of Maduro and Juan Guaidó.

According to a Kevin Rooke tweet, the market of bitcoins in Venezuela during that period it was 157 times bigger than the stock market from that country. The volume of money generated through LocalBitcoins transactions had an average of 1.28 million dollars a day all week. On the other hand, the bus market had a volume TOTAL of $ 8117 during Friday.

YES, THROUGHOUT THE COUNTRY 8 THOUSAND DOLLARS. The news comes after the announcement of the tightening restrictions on mining and the exchange of crypto. Something we talked about the previous episode.

Despite the volatility of Bitcoin the Venezuelans seem to continue choosing the main crypto as an escape method from Bolívar, its currency, which is still in a process of huge devaluation.

Cash App will implement Lightning network Cash App is a virtual wallet with more of 7 million active users. It is a very popular application in States United. It’s something like AliPay or MercadoPago in Argentina.

Lightning network is a solution to scale the bitcoin network and it makes transactions small ones are made outside the blockchain. This makes them much faster and cheaper. Cash app is the Square application, which In turn, it is an electronic payment processor. This company was created by Jack Dorsey, who He is also the founder and current owner of Twitter Dorsey said in an interview that the Integration is a matter of time.

Cash App already offers the option to buy Bitcoin from the application Jack is a Bitcoin enthusiast, he’s totally in favor of the main cryptocurrency in particular, and of no other. In a world scenario where the economy moves from cash and cards towards mobile payment applications implement Bitcoin and Lightning Network in Cash App added to Jack’s public support for the model decentralized management of cryptoes, is fundamental so that these have real and daily uses.

These were the most recent weekly news relevant to the crypto world. Do not forget to click the subscribe button and activate the bell so they receive all the notifications of our next videos. It has been a pleasure and sees you next week.

Read More: XRP: Should I Buy, Keep Or Sell XRP?

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