MWEB Progress Update Thread

I do not share the idea of ​​the MWEB since so MONERO was delisted from several exchanges by UK regulations due to the privacy it has, that MWEB protocol can make the LTC die for life

Optional privacy works differently to Monero, coins cashed out on exchanges can be seen as the person has an account, the transaction is seen from one person paying another, but hides both parties’ balance. Charlie has talked to numerous exchanges and important people and all is OK
Vids on Youtube explain it better

Exchanges don’t need to support Extension Block and MWEB
(not required to continue working with the LTC network).
For the same reason there are no preconditions for changing the listing policy.
Interesting fact:
When you withdraw coins from most exchanges whey already hide you’r balance and address (from a third party), because whey withdraw from a single hot wallet, to reduce commissions and increase the security and fault tolerance of the system.

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Part about MWEB from Charlie interview to Rice Crypto Show
Final through was that people should read more about this update

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Is the only address format change with MWEB that there will now be ltcmweb prefix addresses as well as the standard L , M or ltc1 ?

Check-out Coins using MWEB will have “ltcmweb” prefix

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Thanks @Lite_Diss :pray:

I did see that thread so just wanted to check there hadn’t been any other changes.

Do you happen to know if there’s any address formatting changes for the taproot upgrade? When it came to bitcoin, we got the new bc1p prefix vs standard bech32 bc1q so keen to understand if we’re going to have anything similar when it comes to Litecoin

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Litecoin will use ltcmweb1 for MWEB and ltc1p for Taproot.

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Really? I’ve heard that Litecoin went down in a couple of years ago. I hope I’m not too late at investing in this amazing altcoin though.

100% uptime. Never failed. You’re thinking of the floppening Bitcoin thingy in 2010.

Or “Flappening” as some would say :smiling_face_with_three_hearts:

February Progress:

I’m even later than normal this month. :slight_smile: Sorry about that!

Testnet Activation

After a slightly bumpy start, MWEB has successfully activated on testnet, and the chain is progressing forward. Thank you to Loshan and Charlie for driving this effort, and to the LTC community for really stepping up in a big way to help test and debug issues.

Speaking of which, there were a number of issues identified, mostly around:

1. Encrypted and non-HD wallets

Certain wallet setups were not able to generate stealth addresses with rc1, and during some flows would actually crash. Fortunately, those issues were found and reported right away, so we were able to get those fixed quickly.

2. Mining APIs

The code for solo mining was written and tested long ago, but of course, almost nobody solo mines these days. Mining is done through mining pools, which use a slightly different method for getting new mining jobs, and submitting new solutions. I didn’t have access to a mining pool at the time to test, so the stratum changes just went unimplemented. At least until last week.

Loshan and I worked together to code and test the mining API changes needed for pool mining, which he describes here. If you know any pool operators, please point them there so they can be ready for mainnet activation.

3. Wallet Transaction List

There were a few bugs around transaction building that seem to be fixed now, but most of the wallet issues are around how we display transactions. Between Mimblewimble’s pruning and coinjoining, and the way “pegging out” works with extension blocks, displaying the wallet history is one of the most complex changes we’ve had to make for MWEB.

Pegging out actually splits sends into 2 transactions, which can make for a very confusing history if we’re not careful. And I wasn’t very careful… Immediately after testnet activation, people were confused by the numbers of transactions and the amounts they were seeing. Fees displayed incorrectly, credits and debits were unreliable, and some really large or whacky numbers would appear at times. These were all just display issues, not actual problems with the amounts sent/received, but it didn’t make for a great user experience at all.

I’ve been doing my best to fix each of these issue as they’re identified, and it’s finally starting to act a little more predictably. We’ll continue to test and fix these issues until we’ve got a release candidate that we’re 100% comfortable with. Once that’s the case, we’ll create the full v0.21.2 release and start (gently) badgering node operators to upgrade and miners to start signaling.

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Great update. Thanks for the hardwork and continued testing.

Will a peg out from a fee perspective require two transactions?

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Great updates, although more current updates can be found elsewhere. Can we get updates from the developer’s forum posted here more often?

The main litecoin room on telegram and reddit needs a huge overhaul and certainly not promoted until then.

Excellent! We look forward to reading of further progress here and on Twitter, Reddit, and TG too; as they often seem lost. I wish more knew of this forum!

I think The Fiat Money is the root of all kinds of evil.

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Ignorance is the root of all evil.
It’s us humans who abuse, Fiat and crypto alike.

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I really wish I could give more frequent updates, but a lot of people read them, so I make sure they’re carefully worded to be as informative and accurate as possible. I’m not so good with the words, so this ends up taking a lot of time to write. You can join our MWEB dev/testing channel on Telegram to follow the testing progress, but it is meant to be a work channel, so I mute and/or kick frequently for unnecessary noise.

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That makes sense and understood. LTC’s progress and your hard work certainly need to reach more people than a TG channel for developers without getting in the way of your work.

I like your updates and see that you are very astute in your wording to give a clear picture.

A media specialist should get involved to create litecoin information, YouTube links, and copies of your posts to give them a more extensive audience your and others with LTC, exposure for the excellent work it deserves. Possibly a static splash page so you aren’t interrupted in the developer’s forum?

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Are you volunteering? :smile:

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Absolutely and I have. Although a spokesperson and director of a team of volunteers could do wonders, someone you could reveal information to, and they could disseminate it.

Having the rare few see the excellent work in backrooms while also inviting distraction has to be a pain.