Due to the compliance requirements of exchanges, various privacy tokens have to be delisted. The more privacy, the easier it is to be delisted, such as xmr. In the cryptocurrency circle before 2022, the privacy track is a very important track, and it is also highly praised and favored by major early KOLs. At present, the privacy track is in a downturn as a whole, regardless of the currency price, market value or traffic. Of course, the wind and water will turn, and the privacy track will eventually have a king's return. Today, we will talk about a protocol in the privacy track field, MimbleWimble.
The MimbleWimble protocol is a cryptographic protocol designed to improve the privacy and scalability of blockchains. It was first proposed by an anonymous developer in 2016 under the name "Tom Elvis Jedusor" (this name is the original name of Voldemort in the French version of "Harry Potter"). The name of the MimbleWimble protocol comes from a mute spell in "Harry Potter", implying its privacy protection function.
Main features:
1. Privacy protection:
MimbleWimble protects the privacy of users by eliminating explicit information about transactions. In this protocol, the sender, receiver, and transaction amount of the transaction will not be publicly recorded on the blockchain. This makes it difficult for observers to track the flow of transactions, thereby improving privacy.
2. Scalability:
MimbleWimble improves the scalability of the blockchain through a technology called "transaction merging". It can merge multiple transactions into a single transaction, reducing the storage requirements of the blockchain and improving the processing efficiency of the network.
3. Stateless output:
MimbleWimble does not rely on the traditional UTXO (unspent transaction output) model, but uses "zero-knowledge proof" to verify the legitimacy of transactions. The output of the transaction is hidden by encryption, which means that the blockchain does not need to store the complete transaction history, thereby reducing the amount of data.
4. Atomic swap:
The MimbleWimble protocol also supports off-chain atomic swaps, allowing users to directly exchange cryptocurrencies without trust.
There are currently three tokens using the MimbleWimble protocol: beam, grin, and ltc.