On February 19th, 2023, @anthonyonchain ported Ordinals, an NFT protocol created by Casey Rodarmor, to Litecoin. This protocol allows users to send Lits that carry optional extra data in ordinal progression. To commemorate this momentous occasion, the first inscription on the Litecoin blockchain is the MWEB white paper. This happened on block 2425370. MWEB on Litecoin will increase the privacy and scalability of the network, as well as provide a more secure and private financial system for users.
What is MWEB (MimbleWimble Extension Blocks)?
MimbleWimble (MWEB) is a proposed protocol for the Bitcoin cryptocurrency network that aims to increase the privacy and scalability of the network. It would do this by using Confidential Transactions to hide the amounts of a transaction, and One-Way Aggregate Signatures (OWAS) to blur the transaction graph. MWEB would replace the current Bitcoin transaction format and would allow for transactions to be merged across blocks. This would reduce the amount of data stored on the blockchain and make it much more efficient and private. Additionally, MWEB would introduce a new system of signatures to prove that each input and output amounts to zero, while still allowing for the use of regular discrete logarithm signatures. In this way, MWEB could provide a more secure and private financial system for users.
What are Ordinals?
Ordinals is an NFT protocol created by Casey Rodarmor. It allows users to send and receive sats (smallest measuring unit of Bitcoin) that carry optional extra data in ordinal progression. This protocol is enabled by Bitcoin's previous technical upgrades such as SegWit and Taproot, which allow for large amounts of non-financial data to be stored on the blockchain. The collections on Bitcoin so far include a series of Bored Ape JPEGs, as well as inscriptions of Donald Trump and fallen crypto executive Sam Bankman-Fried.
Ord Litecoin Github Repo
Interested in Inscribing on Litecoin?
Step 1: Download the Latest Litecoin Core https://litecoin.org/
Step 2: Read up on Ordinals while it syncs. https://ordinals.com/
Step 3: After Litecoin finishes syncing, download Ord-Litecoin. https://github.com/ynohtna92/ord-litecoin