Better Privacy and Fungibility
Most of the public blockchain security is based on the fact that transactions are publicly verifiable without trusting any third party. The downside is that anyone can potentially learn about the private transactions of a company or an individual. This lack of privacy can also lead to a loss of fungibility: some coins can be “worth” more than others.
The Mimblewimble blockchain improves this by hiding the amount and recipient of any transactions. It’s not possible anymore to retrace the wealth of an individual or spy on a competitor. This results in a more fungible currency where all coins are “more equal” to one another.
Currently, one of the biggest drawbacks of public blockchains is that every transactions since the genesis block needs to be stored in order to guarantee its properties (no theft or inflation).
Mimblewimble dramatically reduces the transaction history by an order of magnitude in the initial sync of the blockchain.
Our work at Catallaxy
At Catallaxy, we are working on three aspects regarding Mimblewimble:
- Public awareness. Organizing and promoting it through the local blockchain Montreal community.
- Development. Some of our team members are directly involved in the development of Grin.
- Mining. We see a huge oppurtunity in the mining of Grin and we are expanding our skill sets to provide high quality guidance for miners who are interrested.
Learn more about Mimblewimble and Grin
If you want to learn more about Mimblewimble and Grin, you can read more on the Grin forum. Later this year, we will publish more content about Grin and Mimblewimble, so be sure to follows us closely.