Cake Wallet, a popular self-custody wallet (meaning you control the seed words), has integrated Litecoin's new lite privacy feature called VPM which uses the Mimble Wimble Extension Blocks (MWEB) in its latest version, 4.20.0. VPM is like turning on privacy for money similar to VPN for adding privacy when using the internet.
This update allows users to enjoy better privacy for their transactions directly from their mobile devices while maintaining a simple and user-friendly experience.
MWEB is a significant upgrade for Litecoin, improving privacy by hiding transaction amounts and using stealth addresses. These stealth addresses allow users to reuse the same address multiple times while keeping their transaction history private, as each transaction is shielded. This feature addresses common privacy concerns, like the issue of address reuse, by making it impossible for anyone to track payments based on the same visible address.
Download the Mobile App: The latest version of Cake Wallet supports sending and receiving MWEB transactions. Available on both iOS and Android, users can now use Litecoin’s new privacy feature with hidden transaction amounts and stealth addresses.
X Spaces: Cake Wallet recently hosted a live space with David Burkett, the lead developer of MWEB, on X. Listen to the recording here:
To use VPM feature, turn on the MWEB scanning toggle in the wallet. Notice it may take some time to sync to the blockchain for the first time using the wallet.
Litecoin privacy addresses start with mweb1...
for example this is what it would look like:
ltcmweb1qqwe7wafz3xksx4x20m7zlpen63kys9p2yqxvdq2haa86z4qscxxmvqah9qswa0cexze2zvqjqqx5yrawy7vuw7dejews0wlsqc4t8hcl5cfqeccy
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