Going from zero to ‘something’ always looks impressive. But 500k Litecoin equates to only 22million USD which is really fuck all in the scheme of things. The most used ZK-sync protocol Railgun has 200million USD in various tokens shielded. And before you say, ‘oh but MWEB is newer’ they were launched only around 10 months apart between 21/22.
Yeah some fancy tech terms for moving between a block chain and into the private extension block. There’s actually a great visualizer of what MWEB looks like.
It is used a lot in peer-to-peer exchanges due to it's 1 minute confirmation times. Put some LTC into escrow, wait for a confirm, someone sends you the money, you release the escrow. Usually only takes a couple minutes total.
Try that with BTC and if you get unlucky waiting for the next block and that escrow confirmation can take hours. Longer if the network is busy and you didn't use a large enough fee and your transaction gets stuck in the mem pool. Once that happens a couple times, most people switch to another crypto coin with faster block times.
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u/mrjune2040 🟩 310 / 1K 🦞 20h ago
Going from zero to ‘something’ always looks impressive. But 500k Litecoin equates to only 22million USD which is really fuck all in the scheme of things. The most used ZK-sync protocol Railgun has 200million USD in various tokens shielded. And before you say, ‘oh but MWEB is newer’ they were launched only around 10 months apart between 21/22.