Exclusive: Litecoin Foundation and AmericanFortress to launch privacy-focused wallet

Litecoin Foundation and AmericanFortress partnered to launch a new wallet with a focus on privacy.

Summary

• Litecoin Foundation and AmericanFortress announced a new privacy-focused wallet
• The new wallet will let users hide balances and transactions
• Wallet uses MWEB technology, privacy aliases, and Ordinals

Privacy continues to be a key concern for crypto holders. On Monday, September 8, the Litecoin Foundation and AmericanFortress announced the upcoming beta release of a new Litecoin-native (LIT) wallet focused on privac, crypto.news can exclusively report. The AmericanFortress Litecoin Wallet will enable users to stake and leverage layer-2 solutions while making privacy the default setting.

The wallet, set to launch in September, will integrate Litecoin’s layer-2 MimbleWimble Extension Blocks to make transactions private. At the same time, the wallet uses C-filters that prevent IP-to-wallet deanonymization when wallets connect to public servers.

New Litecoin wallet built for privacy

Mehow Pospieszalski, CEO of AmericanFortress, stated that privacy is the core principle of the new wallet and not just an add-on. He also emphasized that the company wanted to create a wallet that is accessible and easy to use for those new to the ecosystem.

The Litecoin network is not DeFi-enabled by design, and its DeFi total value locked is a modest $2.66 million. However, the proof-of-work network is popular among users and traders who value decentralization and privacy.