Following the announcement of the Litecoin Core team integrating Confidential Transactions last week, they have now shown their interest in another privacy and scalability solution known as MimbleWimble. The blockchain project has recently gained some traction in the market and has been pushed to the front with its first real-world implementation in Beam and Grin.
In case you don’t know, MimbleWimble, is a work on the Confidential Transactions where the value is sent over the network and even though it can be confusing, it can be verifiable as the inputs and outputs retain addition as a property. “Those outside aren’t able to seem the amounts involved but can be sure the transaction is valid and that the participant are not attempting to spend coins which are not available.” So, in a similar sense, MimbleWimble uses blinding where the receiver of the transactions selects a random blinding factor from the sender.
With this, they can be used as proof of ownership allowing them to…
Read Full Story : Crypto Daily™