Discover and read the best of Twitter Threads about #mweb

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Litecoin has made history with the activation of #MWEB. Here’s a thread on why *I* believe it’s a pivotal/critical advancement (not just for $LTC) and how it will positively impact every day people. (As always keep in mind I am non-technical) 🧵1/14
What: #MWEB (MimbleWimble Extension Blocks) is the largest upgrade to the Litecoin network ever. In short, MWEB allows #Litecoin transactions to be sent with additional ‘privacy’, i.e: allowing users to transact amounts ‘confidentially’ 2/14
Importantly, MWEB is opt-in. Users can still use the ‘public’ Litecoin if they wish. That said, as comprehension, adoption and more user-friendly infrastructures appear, it’s my belief that Litecoin+MWEB's ‘cash-like’ properties will be of huge benefit to everyday people 3/13
Read 16 tweets
*What is Litecoin's "MWEB?"*
Intro:
1) #Litecoin is closely approaching its second major deviation from Bitcoin--the first being Litecoin's implementation of SegWit prior to BTC in '17 and, the second being #MWEB (Mimblewimble Extension Blocks), which is nearing its release.
2) MWEB is the *largest* upgrade to the Litecoin network there's ever been, headed not by BTC devs but, rather by Grin ++ (an MW protocol) developer @DavidBurkett38.

MWEB is set out to improve two key features lacking from Bitcoin and Litecoin--fungibility and privacy.
3) "Fungibility", what's that? It's one unit of account being exactly equal to another. E.g. One intact dollar bill is equivalent to another $1 bill, they're directly interchangeable. One oz. of gold is equal to another oz. of gold, etc. "But wait, isn't 1 LTC/BTC = 1 LTC/BTC"?
Read 18 tweets
Why I stacked #Bitcoin all of 2020 but started stacking #Litecoin in January 2021: 👇A thread: 👇
What is #Litecoin
#LTC was created in Oct 2011 by computer scientist Charlie Lee, an ex-Googler.
$LTC is based on Bitcoin protocol but it has a different hashing algorithm, and the total supply is capped like Bitcoin, but a higher number of total tokens (84M vs 21M).
Gold vs Silver
#Litecoin is scarce in the same way #Bitcoin is, but it is cheaper and faster to transact in on the base chain (Layer 1). This leads to the narrative that #LTC is the "silver" currency to #BTC's "gold" store of value.
Its network is 10 years old with 100$ uptime.
Read 19 tweets

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