Litecoin receives major updates to catch up with Bitcoin core, this is what investors have been waiting for

• According to a recent update shared by the Litecoin Network, a significant Litecoin Core release is just around the corner.  
• The price of Litecoin (LTC) has surged past the $95 resistance, following the announcement. The asset soared to $96 after gains crossed 8%.

According to a recent announcement shared on Twitter by Litecoin Network, a major release to Litecoin Core is already in the works. The release will introduce a lot of new features to Litecoin Core.

These features, as explained by developer David Burkett, include PSBTs, intended to provide hardware support for MWEB. Introducing mobile and other user-friendly wallets is the P2P Support for Light Clients, which will follow the other features. View Keys is another key feature that will support “watch-only” wallets.

A new major release to Litecoin Core is in the works!

⚡PSBTs
⚡P2P Support for Light Clients
⚡View Keys
⚡Payment Proofs
⚡Descriptor wallets

Read more in the latest update from @DavidBurkett38 https://t.co/BgPe7Mrktu

— Litecoin (@litecoin) April 10, 2023

Explaining how the “Payment Proofs” feature will work, the developer said the following ;

For traditional litecoin transactions, where proving you sent coins to an address could be done by just signing a message with your private key, and pointing to the transaction on the blockchain which shows the source address (which you just proved to be the owner of), and the destination address and amount. With MWEB, addresses and amounts are all encrypted, so in the case that you need to prove to an arbiter that you made a payment, a more complex proof is needed. This proof is described.

The price of Litecoin (LTC) reacts positively to the announcement

Furthermore, the developer noted that changes have been made to the (pre-MWEB) Litecoin code. A code review will follow after submission covering the progress of the developer’s work has been put out. The entire process will extend into the summer, and the result will contain some key new releases, the developer added.

Lastly, Descriptor wallets which will work around expanding on the wallet code, which was originally written by Satoshi Nakamoto, will also be part of the major deals for Litecoin Core. The developer concluded.

So far, I’ve added the classic (pre-MWEB) litecoin code changes to the v24 bitcoin code, and am working on fixing tests. I’ll then merge in the already-released MWEB code, followed by the new features listed above, submitting everything for code review after each step. This will be a lengthy process taking us well into the summer, but the end result should be a new release that’s up-to-date with bitcoin core, and will include all of the new MWEB features everyone has been waiting for.

The price of Litecoin (LTC) seems to have been affected by the recent update announcement. Litecoin (LTC) bulls are awake, and the market has recorded strong buying pressure since the announcement. With a positive reaction to the announcement, Litecoin (LTC) soared by 8.07% in the last 24 hours.

According to our data, Litecoin (LTC) gains from the last 7 days are up over 2%. As at the announcement time, Litecoin. (LTC) hit a high of $96.13 after breaking the $95 resistance level.

However, at press time, Litecoin (LTC) is back at $95. This comes after most the altcoins, including Litecoin (LTC) moved to the red zone. At the time of this report, altcoin is nursing hourly losses of 0.17%.

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