Editor's Note: This article comes fromGolden Finance, reprinted by Odaily with authorization.
Editor's Note: This article comes from
Golden Finance
Golden Finance
, reprinted by Odaily with authorization.
After one and a half years, the Litecoin MimbleWimble privacy protocol has finally made substantial progress.
The Litecoin Foundation released the draft Litecoin improvement proposals LIP-0002 and LIP-0003 in October 2019, aiming to integrate the MimbleWimble protocol for the Litecoin network to establish privacy features. The authors of the proposal include Litecoin founder Li Qiwei, Andrew Yang (Litecoin researcher and technical author), and David Burkett (Grin developer).bitcoinThe proposal plans to implement the MimbleWimble protocol as an optional new transaction format through extension blocks (Extension Blocks). The extension blocks run concurrently with the main chain, and the block time is 2.5 minutes. The function of deploying private transactions occurs within the extension block, and users can use MimbleWimble by transferring their coins in and out of the extension block through collective transactions.
What is MimbleWimble?
MimbleWimble is a privacy-enhancing and scaling blockchain protocol. Verify that all transactions are valid without storing the entire blockchain history. It takes its name from the tongue-binding spell in Harry Potter, which prevents the caster from revealing secrets. In 2016, a man named Tom Elvis Jedusor (the name of the French version of Voldemort) was in
bitcoin
The Wizards IRC chat room shared a Tor link to a text file outlining MimbleWimble and then disappeared.
Many in the crypto community have been paying close attention to the MimbleWimble protocol as it seeks to improve upon key issues of Bitcoin and other cryptocurrencies, optimizing privacy and scalability for the first time.
Specifically, the Mimblewimble protocol combines various privacy protection technologies such as confidential transactions, transaction mixing and Dandelion Protocol, which hides the transaction amount, eliminates the concept of transaction addresses, and the intermediate state can be merged, so that it can protect transaction privacy while Simplifies the transaction size and has better scalability. Based on the Mimblewimble protocol, two privacy coin projects, Grin and Beam, were born.
Is there any risk of LTC delisting?
In today's cryptocurrency market, more and more blockchain developers have begun to shift their focus to privacy measures, and the privacy track is also extremely lively, such as PlatON, Findora, etc. have been launched one after another.
