Shortly after the hot discussion on the MimbleWimble (MW) protocol vulnerability, David Burkett, the lead developer of Grin (native blockchain behind MW), disclosed some amazing details that brings MimbleWimble to Litecoin.
From Funding to Implementation
Recently, the developer announced that the Litecoin Foundation decided to fund his efforts at implementing the MW extension block. Thus, we can conclude that Litecoin's protocol governance is focused on implementing its new privacy protocol.
I'll be posting monthly status updates detailing progress on the LTC MW EB (YAY acronyms). This is geared toward those interested in LTC development, but will also talk a lot about Grin++ changes, so it may be interesting to Grinners as well. https://t.co/hTpUbWSPI6
— David Burkett ツ (@DavidBurkett38) December 1, 2019Ripple CTO Makes Unexpected Interaction With Litecoin on X, XRP Beef Squashed?Crypto Market Prediction: XRP to Face Its Most Intense Battle, Shiba Inu (SHIB) $0.00002 Closer, Can Ethereum (ETH) Reclaim $4,000?'XRP Sits at the Center of Everything Ripple Does,' Garlinghouse SaysBinance's CZ Finally Pardoned, $506 Million in XRP Moved in One Go, Satoshi-Era Bitcoin Whale Awake After 14 Years — Crypto News Digest
Widely criticized for the lack of anonymity in MimbleWimble, the developers have now made their technology work with TOR. MW requires interacting with the receiver in order to finalize a transaction collaboratively. By using TOR for that interaction, the protocol can use familiar-looking addresses, a simpler set-up, and improved privacy.
CoinJoin: Single Exchange Point for Speed and Privacy
Mr. Burkett also reconsidered some aspects of the transactions broadcasting in Litecoin's mainnet. In order to increase speed without sacrificing privacy, every MimbleWimble transaction can now be pre-broadcasted to the CoinJoin server. As a result, users in some cases can avoid latency and transaction denials.
As one more step to its release, Mr. Burkett re-designed the Grin++ codebase in a way that allows LTC to reuse Grin++ with minimal modifications. Therefore, the implementation of MW into Litecoin will have a barely seamless design.
MimbleWimble protocol is a kind of side-chain extension that can be used for the unmatched level of privacy in some major blockchains.
What do you think? Will the release of MimbleWimble in Litecoin somehow affect the price of this asset? Share your opinion on Twitter.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team