Mimblewimble, named after the tongue-tying spell in Harry Potter that makes speech incoherent, is a privacy-oriented decentralized protocol that was incorporated into Litecoin this May.
It allows users to send transactions confidentially, concealing the participants and amounts involved. The feature of Mimblewimble is optional, and users can still send Litecoin transparently without this privacy feature.
This new upgrade to Litecoin has already raised many questions about whether or not regulated firms and businesses can still offer Litecoin and remain compliant. As a result, there is already a blockchain analytics provider, Elliptic, that allows identifying whether the Mimblewimble feature was used in the transaction.
For now, regulated firms can continue to allow transactions in Litecoin, while mitigating risks related to Mimblewimble use.
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