The creator of the Litecoin cryptocurrency and managing director of Litecoin Foundation, Charlie Lee, is dropping a notification on the progress of a crowdfunding program launched for the implementation of confidential transaction on Litecoin network.
Lee made the disclosure while revealing the December update for MimbleWimble, a technology in progress under David Burkett, a Grin++ developer.
Charlie Lee noted that great progress has been achieved in the fundraising program, and they are already 1/4 of the way towards achieving their targeted goal.
The computer scientist who is an ex-director of engineering at Coinbase urged lovers of Litecoin to continue to support the project as their unflinching efforts are still needed to complete the program.
“Fundraising for the Litecoin Confidential Transaction Fund is going strong. We are 1/4 of the way there. But we still need your help LitecoinFam. Thanks,” Charlie stated.
The Litecoin Foundation launched the crowdfunding program earlier this month with the aim of raising $72,000 to integrate confidentiality into the transaction of the network.
While creator Lee claimed the fundraising program has reached a quarter of the targeted milestone, it implies that no less than $18,000 has been raised in less than one month.
As described by NewsLogical earlier, Litecoin Foundation intends raising $6,000 monthly for 12 months, an indication the fundraising program is progressing at pace and could reach its milestone before the stated period.
December Update on Litecoin’s Mimblewimble Technology
After proposing LIP-0002 and LIP-0003 in late October to introduce extension blocks (EB) with the motivation of implementing opt-in MimbleWimble, the Litecoin foundation began releasing monthly updates on the integration of MimbleWimble technology into the Litecoin network.
In the update for this month, developer David revealed that he dedicated much effort towards “restructuring the core logic that will be shared between Grin++ and LTC.”
The restructuring involves error handling, serialization, logging, crypto and common data structures (headers/blocks/txs).
David furthered that in January, the foundation will be focused on determining the build method, defining all LTC models as well moving the database implementations to libmw-core.
The developer added that he will also be working on ensuring a faster sync mechanism for Grin next month.
