Litecoin Foundation has made the choice of keeping its large token on BitGo independent storage wallet.
On January 3rd, 2020, Litecoin Foundation announced that it has chosen BitGo multi-signature wallets for its custody solution, hence, Litecoin will keep its holdings in the multi-signature wallets.
The wallets will help safeguard Litecoin’s crypto assets, with a complex combination of alphanumeric values used as a private key in accessing the crypto holding.
However, BitGo is yet to release an official statement regarding the update. In December, BitGo announced that in 2020, it will be launching a streamlined, opt-in solution in compliance with the FATF’s Travel Rule.
Community Asks Litecoin’s Charlie Lee To Make Mimblewimble Remaining Donations Himself
Litecoin Foundation has been keeping its community abreast about the progress of the MimbleWimble protocol. Lately, founder Charlie Lee, while commenting on the progress shared by the foundation urged the community to remain relentless in the donation, geared towards introducing privacy protocol via MimbleWimble.
As reported, Lee said the fundraising is “going strong,” and a quarter of the targeted fund has been raised within a shorter duration than estimated.
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! https://t.co/lHZE1ipGtn pic.twitter.com/iDoGlp3vMG
— Charlie Lee [LTC⚡] (@SatoshiLite) December 30, 2019
The targeted fund required to implement MimbleWimble on Litecoin is $72,000, indicating that a quarter of the milestone which has been raised is $18,000.
Charlie Lee promised to match the donations in ratio 1:1 with the community, which means the founder would contribute $36,000. However, some of the Litecoin community members think the community has raised enough, and the founder should cough out the remaining funds and stop tasking the community.
Just f*cking donate the rest yourself Mr. "I Sold at the ATH" https://t.co/my75UOojNg
— Chico Crypto (Giving Away Eth-Jeez Greedy F***s) (@ChicoCrypto) December 31, 2019