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Litecoin Foundation, the developer of Litecoin (LTC) crypto, reminded its users to upgrade to version 0.21.2. The reminder is to ensure that users can make MWEB transactions after the feature’s activation.
The team has already tweeted the new version’s release, which includes Taproot and MWEB.
A reminder to upgrade your Litecoin node to 0.21.2 if you haven’t already. You will need version 0.21.2 to be able to make #MWEB transactions after it activates in a about a week. https://t.co/4VCtZSTPaY
— Litecoin Foundation ⚡️ (@LTCFoundation) May 13, 2022
Mimblewimble via Extension Blocks(MWEB) is an optional upgrade for the Litecoin Network providing user fungibility and privacy in the network. When activated, users can have complete privacy regarding the amount of crypto sent, sender, and recipient’s address.
In February, MWEB’s Lead Developer David Burkett said the following about the extension:
MWEB is a crucial next step in Litecoin’s evolution. The optional confidentiality MWEB provides gives the user notable and needed protections for small everyday items, to salaries, or even buying a home
Meanwhile, Taproot processes transactions with increased speed and less overall costs. By this, Litecoin Foundation can tie up transactions and signatures together. This feature benefits multi-signature transactions and regular transfers as many inputs are condensed into a single one.
Despite Litecoin Foundation being launched in 2011, it remains to be one of the most reliable networks. Moreso, as tweeted by the Litecoin team, the network has not yet had a single downtime for more than ten years.
Reminder: #Litecoin has zero downtime for over 10 years pic.twitter.com/AqfWHr2K8X
— Litecoin (@litecoin) May 13, 2022
While looking at the current market, LTC trades at $70.58, with a 22.8% dip in the past 24 hours. However, the latest upgrades to the coin are expected to be a pathway for its surge.