Litecoin encounters bug post MimbleWimble transition

Sahana Kiran
Source – Unsplash

The Litecoin [LTC] network made a major comeback with its MimbleWimble upgrade. The network’s highly anticipated privacy-centric upgrade went live last week after over two years of development. Just as the community was celebrating this inclusion, Litecoin devs encountered a minor setback following a bug in the latest version of the network.

In a recent tweet, Litecoin developer David Burkett, the man behind MimbleWimble, revealed that a bug was found in v0.21.2. This bug reportedly was generating MWEB addresses employing the wrong key pool. While encountering bugs during upgrades is quite common, the latest bug could cause monetary loss and the wallets would fail to recognize the coins sent to them.

However, Burkett affirmed that the Litecoin team was working on fixing this mishap. He further detailed,

“We’re working on a fix that will allow those coins to be recovered. In the meantime, we recommend you avoid generating MWEB addresses from upgraded wallets. Instead, create a new wallet to receive via the MWEB, or wait until we release the fix.”

Litecoin fails to move close to $100 following the MimbleWimble upgrade

Charlie Lee, Litecoin creator, and Burkett witnessed the activation of MimbleWimble on the LTC network with the entire community. The much-awaited upgrade created quite the buzz and was even speculated to push the price of LTC. Things went haywire following the recent crash. As LTC succumbed below $100, the hopes of reaching its all-time high grew distant.

As result, the community hoped for MWEB to push Litecoin at least above $100.The altcoin, however, failed to go anywhere close to $100. At press time, LTC was trading for $73.51 with a 1.82 percent drop over the last 24-hours.

Despite this, the MimbleWimble upgrade was considered to be revolutionary for the entire network. It is also speculated that networks would follow a similar path and integrate their version of MimbleWimble.