Mimblewimble Paper Proposes ‘Near Complete’ Bitcoin Anonymity
21inc’s Balaji S. Srinivasan recently pointed out an interesting paper that proposes to anonymize all Bitcoin transactions. The process is called Mimblewimble, and it prevents the blockchain from broadcasting user information. Mimblewimble Proposes to Anonymize All BTC Transactions. The paper written by Tom Elvis Jedusor published on July 19 gives a....
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Mimblewimble is a spell that literally ties the target's tongue to keep them from exposing information on a given subject. It is well-known among Harry Potter enthusiasts. What is Mimblewimble? Mimblewimble is a privacy-oriented decentralized protocol that uses a novel way of structuring and storing transactions on the blockchain. It was designed and introduced by an anonymous developer who went by the name Tom Elvis Jedusor, who was a French counterpart for “Voldemort” in mid-2016.How does Mimblewimble work?Taking its name from the Harry Potter books series’ well-known tongue tying spell....
Rootstock (RSK) developer and Coinspect security consultant Sergio Lerner praised the development of privacy-focused proposal Mimblewimble after revealing his plans to integrate it into Rootstock 2.0. At the Scaling Bitcoin conference in Milan, Italy, a variety of scaling and privacy-related solutions were introduced with a common theme to “make Bitcoin great again.” What is Mimblewimble? On the first day of the event, Blockstream and Bitcoin Core developer Gregory Maxwell’s Confidential Transaction-based and CoinJoin-inspired Mimblewimble was introduced as a solution for the enhancement....
A slimming down of the bitcoin protocol called Mimblewimble generates a blinding factor that can prove ownership of bitcoins, making private keys unnecessary, and offering a solution to the need to balance bitcoin privacy against fungibility while also improving scalability, according to a white paper that appeared mysteriously on a bitcoin research site authored by a person using a pseudonym, according to Nasdaq. Privacy and fungibility are at odds in bitcoin because anyone can trace transactions over the blockchain, and as the number of transactions increases, the verification cost can....
Privacy opt-ins are coming to Litecoin even as regulators continue to scrutinize anonymity-boosting protocols. After two years of development, Litecoin (LTC) has finally launched its highly anticipated Mimblewimble upgrade, opening the door to more privacy-oriented transactions on the network. Mimblewimble’s integration into Litecoin came by way of the Mimblewimble Extension Block, also known as MWEB, which allows the network’s users to opt-in to confidential transactions. MWEB lead developer David Burkett, who has been sponsored by the Litecoin Foundation, said the upgrade improves....
A new anonymity network called Riffle, which has similar attributes to Tor, has been created by researchers from the Massachusetts Institute of Technology (MIT). MIT News reports a recent discovery of vulnerabilities within the Tor network, which has pushed computer scientists to produce a superior method of anonymous web browsing. Now, the Riffle....