Binance Announces Nonsupport Of Litecoin’s MWEB On Deposits And Withdrawals

Binance Announces Nonsupport Of Litecoin’s MWEB On Deposits And Withdrawals
фото показано с : zycrypto.com

2022-6-17 17:17

Binance, the world’s leading cryptocurrency exchange platform, in a publication on their official blog, has announced their nonsupport of Litecoin’s MWEB on deposits and withdrawals. MWEB’s incognito approach doesn’t conform with Binance’s security policies.

South Korean Platforms Reacts Radically By Delisting Litecoin Over MWEB

In a press release by Binance, the exchange platform has distanced itself from all forms of trading activities involving Litecoin, following their integration of the Mimble Wimble Extension Blocks (MWEB), which allows users to hide their identities. Litecoin could still be traded without the MWEB function.

Users have been warned of the dangers of trading Litecoin through the MWEB function, and stand the risk of incurring losses if found guilty of a violation. Transactions executed using MWEB cannot be verified as users have their address information hidden.

Similarly, Litecoin’s MWEB hasn’t been appreciated by South Korea which happens to be one of Asia’s leading crypto markets. The country’s crypto legislation maintains strict policies which are geared toward protecting investors within the country.

As of last month, Litecoin had already been delisted by top crypto exchanges in the country after the MWEB function earned it a dark coin attribute. The South Korean exchanges that have already delisted Litecoin are Coinone, Upbit, Gopax, Bithumb, and Korbit. 

MWEB Has Confidentiality At Its Core

Based on market cap, Litecoin is ranked as the 20th largest cryptocurrency but with MWEB, it ranks as the most easily accessible and confidential coin globally. A new MWEB upgrade is optional for exchanges with Binance and South Korean Platforms opting out.

Last month, Litecoin announced the official launch of their soft fork upgrade, MWEB, whose journey began way back in the last quarter of 2019. The project which was then termed, Litecoin Improvement Proposal, sought to integrate a high level of confidentiality into transactions.

The present blockchain environment is built on wide transparency which acts as an infringement on the privacy of transactions and the main objective of MWEB is to bridge that gap. In what is supposed to be a fix on existing privacy flaws, MWEB promotes confidentiality. 

Following the launch of MWEB, Litecoin transactions are only known by users carrying out the transaction, that is, information concerning the transaction is kept secret on the general blockchain, known only to the users executing the transaction. Users have already shown their support for MWEB.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Dix Asset (DIX) на Currencies.ru

$ 1.0E-7 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $1.0E-7 - H: $1.0E-7
Капитализация $11.516k Rank 99999
Доступно / Всего 100b DIX

making again once cryptocurrencies nfts known asset

making again → Результатов: 126


Bitcoin Hater Peter Schiff Is the Gold Bug Who Cried Wolf

Peter Schiff is once again making apocalyptic bitcoin price predictions. This isn’t the first time the famous gold bug has sounded the alarm on the crypto market. Are crypto investors right to treat him like the boy who cried wolf? Peter Schiff has remained active on Twitter lately, chiming in on the Fed’s ballooning balance […] The post Bitcoin Hater Peter Schiff Is the Gold Bug Who Cried Wolf appeared first on CCN.com

2019-11-10 02:00


Фото:

US and UK pressure Facebook for backdoor access to WhatsApp messages

The tug of war between privacy and security has come to the fore again. This time, the US, the UK, and Australia are making a case against end-to-end encryption (E2EE), calling on Facebook to delay its plans to implement the privacy feature across its messaging apps until “there is no reduction to user safety and without including a means for lawful access to the content of communications to protect our citizens.

2019-10-4 12:39


Madden NFL 20 Tops Sales Charts Again but September Won't Be as Easy

Madden NFL 20 topped the charts for U.S. digital sales of PlayStation 4 games for the month of August, making it the best-selling title for two consecutive months. Madden NFL 20 Carries Over July Success to August Madden NFL's yearly success comes down to a stroke of perfect timing (nudged between the highs of E3 […] The post Madden NFL 20 Tops Sales Charts Again but September Won't Be as Easy appeared first on CCN.com

2019-9-9 03:41


Tron’s sidechain scalability solution Sun Network will bolster the Tron ecosystem, claims Justin Sun

Founder and CEO of the Tron Foundation, Justin Sun, is constantly making sure that Tron never stays away from the crypto-spotlight. The Tron Foundation has witnessed several developments in the ecosystem recently, with the network time and again proving to be the master of the DApp space, while making upgrades to retain its dominance.

2019-8-21 16:00


William Shatner’s Possible Return to Star Trek Would Be Good for Crypto

For those who think Star Trek legend and crypto fan William Shatner is no longer relevant, they should think again. For instance, Quentin Tarantino, who is behind “Once Upon a Time in Hollywood,” recently talked about how much he liked the 88-year-old, making him a candidate for a role in the director’s much talked about […] The post William Shatner’s Possible Return to Star Trek Would Be Good for Crypto appeared first on CCN Markets

2019-7-29 06:15


Tether “Accidentally Minted” 5 Billion USDT as Community Investigates the Drama-Filled Matter

Accident happened while making the swap from Omni to Tron Bitfenix and Tether CTO, Paolo Ardoino said “sometimes issues happen” when working with different blockchains Controversial stablecoin, Tether is yet again in the hot waters after the Tether Treasury “accidentally” created 5 billion USDT instead of the required 50 million. The Accident with the Token […]

2019-7-14 18:56


Фото:

Apple steps in to automatically remove Zoom’s risky software from Macs

Apple has pushed a silent update to Mac users to remove the web server sneakily installed by popular video conference app Zoom, TechCrunch reports. Earlier this week, a disclosure by security researcher Jonathan Leitschuh revealed how Zoom installed a secret local web server on Mac devices — with an intent to save an extra click — but left users vulnerable by making it possible for an attacker to hijack their webcams.

2019-7-11 08:41


BTC Dominance At 60% Will Be Bullish For Bitcoin But Won’t Be Good For Most Altcoins

Bitcoin is making its way up again after a short lull swinging around $7,900 and $8,000. The crypto has already broken above $9k and seems to be headed to the $9,500 range. While this may sound like good news for much of the rest of the market since Bitcoin tends to drag other crypto prices […] The post BTC Dominance At 60% Will Be Bullish For Bitcoin But Won’t Be Good For Most Altcoins appeared first on ZyCrypto.

2019-6-16 11:15


If Bitcoin Hits This Key Level, It’s Going to Make a Run for $40K: Tom Lee

  By CCN Markets: The bitcoin price might have slipped below $8,000 for now, but it could be headed much higher in the near future. Fundstrat Global Advisors Co-Founder Thomas Lee is willing to put it on the line for bitcoin once again, making an aggressive short-term prediction on where the cryptocurrency could be trading if it can capture enough momentum.

2019-6-9 00:30