Exclusive report: Litecoin Foundation and AmericanFortress will launch privacy-focused wallets

According to Bijie.com, the Litecoin Foundation and AmericanFortress have collaborated to launch a new privacy-oriented wallet. Privacy remains a major concern for cryptocurrency holders. On Monday, September 8, the Litecoin Foundation and AmericanFortress announced the upcoming beta version of a new Litecoin native (LIT) wallet that focuses on privacy, according to crypto.news exclusive report. The AmericanFortress Litecoin wallet will enable users to stake and leverage the Layer 2 solution while setting privacy to the default settings. David Schwartz, project director at the Litecoin Foundation, said the launch is “a milestone in the privacy infrastructure, not only for Litecoin, but also for the entire cryptocurrency ecosystem.” Combining MWEB with FortressNames™ and advanced c-filtering “provides a user experience that feels like the most intuitive traditional financial app, but at no level of sacrificing privacy.” The wallet, scheduled to launch in September, will integrate Litecoin’s Layer 2 MimbleWimble extension block to make transactions private. Meanwhile, the wallet uses C-filters, which prevents IP-to-wallet deanonymization when the wallet is connected to a public server. AmericanFortress CEO Mehow Pospieszalski said privacy is the core principle of the new wallet, not just an additional feature. He also stressed that the company wanted to create a newbie wallet that was easy to access and easy to use. “This wallet is portable in design, future-oriented, and is limited to Litecoin,” said Mehow Pospieszalski of AmericanFortress. “It’s optimized for everything the ecosystem is building – from Layer 2s to ordinals – and it provides foolproof privacy without compromising speed, availability, or interoperability.” The Litecoin network is not designed to enable DeFi, with a total DeFi lock value of just $2.66 million. However, this proof-of-work network is popular among users and traders who value decentralization and privacy.