What Is Mimblewimble? How Does It Relate to Bitcoin, Litecoin, Grin, and Beam?

What Is Mimblewimble? How Does It Relate to Bitcoin, Litecoin, Grin, and Beam?



MimbleWimble is a relatively new blockchain protocol focusing on privacy and scalability. It had a whitepaper released in mid 2016 with an author under a pseudonym. Specifically, Mimblewimble targets Bitcoin’s shortcomings when it comes to privacy and scalability by clever cryptographic techniques. It uses Confidential Transactions and also a system that cuts down on the amount of info you have to store to know the ledger’s account balances. Two altcoins, Grin and Beam, have since been launched using the Mimblewimble implementation. Many major figures in the cryptocurrency world have spoken positively about Mimblewimble including Charlie Lee of Litecoin, Fluffypony of Monero, and Samson Mow of Blockstream.

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