Litecoin (LTC) is planning on integrating the privacy protocol Mimblewimble towards the end of the summer, and if this happens it would be a big win for anonymity in the crypto space.
Mimblewimble created a stir in early 2019 when the Mimblewimble cryptocurrencies GRIN and BEAM launched, and at the time it seemed that this new unique type of crypto had a lot of potential. However, GRIN and BEAM basically stagnated after launch, and collectively they have a market cap of just $50 million currently.
That being said, Mimblewimble appears to be getting a 2nd chance at success now that it is being integrated into Litecoin (LTC). Litecoin (LTC) Founder Charlie Lee says that Mimblewimble version of Litecoin (LTC) has been in development since late 2019 and that a testnet will launch by the end of the summer. If the test succeeds then Mimblewimble will go live on the Litecoin (LTC) mainnet shortly after that.
This is extremely good news for both the future of Mimblewimble and anonymity in the crypto space. This is because Litecoin (LTC) has a market cap near $3 billion and has been in the top 10 cryptos long term. Further, Litecoin (LTC) is available on practically every crypto exchange in the world, including easily accessible and regulated exchanges like Coinbase.
Therefore, when Litecoin (LTC) finally integrates Mimblewimble and becomes a pseudo-privacy coin, people who desire anonymity will be able to easily obtain Litecoin (LTC) anywhere in the world.
Compare this to the current situation where Monero (XMR), the only truly anonymous major crypto, is difficult to obtain in the United States, while privacy coins like Zcash (ZEC) which are easy to obtain have been de-anonymized by blockchain forensics.
Mimblewimble certainly has not been compromised by blockchain forensics yet, so when Litecoin (LTC) adds Mimblewimble, Litecoin (LTC) will become an effective and easily obtainable privacy crypto, which is something that the crypto space currently lacks.
On a final note, it remains to be seen if any major exchanges will delist Litecoin (LTC) for adding privacy features. It seems unlikely due to Litecoin’s (LTC) popularity, as well as the fact that Litecoin (LTC) will be optionally transparent like Zcash (ZEC), which will make Litecoin (LTC) compatible with regulations.