![]() It’s worth noting, however, that the developer cautioned the timeline might change for auditing, reviewing the code. The MWEB upgrade is slated to be the “largest upgrade to the Litecoin network ever.” The same will result in “less disk space usage, less data transferred between peers, and therefore slightly higher throughput.” Serialization formats for all MWEB data structures have also been made much more compact. ![]() Blake 3 is a relatively newer crypto hash function that is reportedly 10 times faster than SHA-2. ![]() According to the said announcement, the network is now shifting to the “much-faster” Blake 3 for all MWEB hashes. A bigger and faster networkįor a long time, LTC has continued to use the same hashing algorithm called SHA2-526. As this can be a “source of frustration” and metadata leakage, LTC hopes to eradicate these issues through the introduction of non-interactive transactions. LIP 3 further aims to enhance the user experience by modifying the traditional MW payment mechanism which relies on interactivity between the sender and receiver to validate transactions. This would increase the overall scaling of the network. It will protect user information such as the amounts sent/received, change addresses, and the entire transaction history from being broadcasted to the whole network.Īdditionally, the protocol change also has the potential to minimize the amount of data stored on the ledger. Through the implementation of MWEB, the network is expected to see increased fungibility, something that is lacking in other blockchains such as Bitcoin. The extension blocks can be considered a parallel blockchain running alongside LTC’s main chain and users can transact through either of these. ![]() However, it is noteworthy that this is an opt-in upgrade. ![]()
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