Litecoin's 'MWEB Torch' Explained: What It Is and Why It Matters
Updated: May 26, 2022
The Litecoin community started an experiment called the “MWEB torch." With the intent to create a pay-it-forward chain using MWEB. The first transaction will send a small amount of LTC to the first MWEB address, then that person will send the LTC to the next MWEB address in the comment chain on Twitter. There is even a hashtag being used: #MWEBtorch
You can add more litecoin or send less litecoin no one will ever know! But keep it lit #MWebTorch
The effort is intended to show the value of Litecoin's MWEB feature – a privacy and fungibility technology that was released this week and is easy to use.
Litecoin MWEB offers improvements in fungibility, capacity, and privacy over other blockchain payment networks. It allows users to send and receive money around the world quickly and at low fees without telling the world how much they have in their wallet or how much was sent.
The plan is to list the people in the MWEB chain and make a t-shirt with the list of participants. What number will you get to carry the #MWEBtorch
Litecoin MWEB is only supported right now on Litecoin Core 0.21.2. We fully expect more wallets to integrate this feature in the months ahead. If you want to be a part of the #MWEBtorch you can install the software here