June 25, 2024

Litecoin Foundation will switch to BitGo wallet

Litecoin Foundation will switch to BitGo wallet

The Litecoin Foundation announced its transition from the Electrum-LTC wallet to the multi-sig wallet from BitGo.

According to the entry on the officialcompany’s website, such a decision was made,since the BitGo wallet provides "the same level of security with significantly greater usability." Old Electrum-LTC addresses will be valid for one more month, and new BitGo wallets will be available soon.

Litecoin developers recently also publishedInformation on the progress of the implementation of Mimblewimble in cryptocurrency code. According to them, a test network has already been created, and integration has already begun. It is planned that Mimblewimble will be launched on the Litecoin test network by the end of summer.

Recall that this year the Litecoin Foundation announced a strategic partnership with the crypto-credit company Cred, which will allow LTC owners to earn up to 10% on their deposits.

Based on materialscointelegraph.com