![]() Originally, Litecoin was known for simply following Bitcoin’s path, but especially with the creation of MWEB, it’s beginning to establish its own. There’s no doubt that development on Litecoin has been ramping up in recent years. Bitcoin, users may find it more convenient to open a payment channel via Litecoin’s LN and later atomic swapping over to Bitcoin. Due to the nature of how the Lightning Network is designed, to begin using it, one is required to pay a fee in order to open their first payment channel (and an additional fee for closing it). On Twitter, Loshan mentioned that there are plans to integrate technology such as LTC/BTC Atomic Swaps, which would permit users to exchange between both (quite literally, swapping) one for the other on the app. LN apps such as Plasma will provide the tools for when that day comes. This is an important step to take in the ever-growing cryptocurrency space in which over time, Litecoin could also and most likely will experience fee increases. Essentially, this will be the first major step towards the expansion of its second layer scaling solution. Saying that, Plasma is the first major application on Litecoin’s LN that will make the user experience and on boarding process easy. At the moment, many users still conveniently send coins on Litecoin’s layer one. Litecoin, on the other hand, does not have this problem and as a result of its cheap fees, the growth of its LN has been slower than Bitcoin’s. Due to the saturation on Bitcoin’s blockchain, the BTC community desperately needed to build up its LN to make the coin-sending experience more user friendly. At the moment, Bitcoin and Litecoin are the dominant two cryptocurrencies that have a Lightning Network, a second layer scaling solution that was built to combat Bitcoin’s high fees. Looking towards the future, the MWEB development team, led by David Burkett, have stated their intention of continuing to build on Litecoin’s MWEB by potentially adding features such as Dandelion and CoinSwap.Ī few months ago, Loshan also announced the creation of Plasma, the soon-to-be-released Litecoin-based Lightning Network (LN) mobile wallet. Thankfully, Litecoin’s MWEB helps fill this void and makes the payment experience more convenient for both parties involved in a transaction. As you can see, these are basic features that already exist within our current day-to-day financial life, but are surprisingly missing from cryptocurrencies such as Bitcoin and Dogecoin. Also, people other than yourself and the cashier cannot see how much you’re spending. This is the equivalent of a cashier not being able to see how much money you have in your bank account after paying with your debit card. In other words, by using MWEB, a cashier at a store does not have the ability to see how many coins you hold in your address after paying for an item. ![]() MWEB is an an opt-in feature that eliminates publicly viewable address amounts, as well as eliminating the ability for another person (besides you and the person you’re paying) to view the amount of coins that were sent.
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