What is Mimblewimble and how does it work?
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....
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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....
Work is advancing on a highly anticipated bitcoin project originally proposed by an anonymous cryptographer going under the French name of Harry Potter's nemesis. Named after one of the book series' spells, MimbleWimble has quickly became one of the more anticipated bitcoin R&D initiatives, since it is believed it could help improve upon the scalability and fungibility of bitcoin in a unique way. One of the major downsides of the original design, however, was that despite granting greater privacy and scalability, it looked like it might not support many of bitcoin's more complicated....
One of bitcoin's more forward-looking projects has attracted a group of developers who are using some obscure names from the Harry Potter book series. Bearing the names of the book series' invisibility cloak inventor (Ignotus Peverell), its leading wand maker (Garrick Ollivander) and the mother of its main antagonist (Merope Ripple), the developers are now working on the first version of Mimblewimble. First proposed by a cryptographer who uses French version of Tom Riddle (better known as Lord Voldemort), Mimblewimble describes a unique way of solving some of bitcoin’s more pressing....
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....
The world’s biggest crypto exchange by volume, Binance, published blog post this morning saying they are not going to support the MimbleWimble Extensions Block (MWEB) feature for Litecoin (LTC) deposits and withdrawals. They cited worries about security as the main reason for this decision. Binance has delisted many other coins in the past due to […]