MimbleWimbleCoin (MWC)
History of MimbleWimble Coin
MimbleWimble Coin was introduced following the conceptualization of the Mimblewimble protocol, which first appeared in 2016. The protocol was named after a spell from the Harry Potter series, known for its ability to bind the target's tongue, preventing them from speaking coherently. This metaphor aptly describes the protocol's function in obscuring transaction details. MWC was developed to implement this protocol fully, offering users enhanced privacy features.
| Ticker | MWC |
| Category | Cryptocurrency |
| Website | https://www.mwc.mw/ |
| @M_W_Coin | |
| Telegram | mimblewimble_coin |
| https://www.reddit.com/r/mimblewimblecoin |
The Mimblewimble protocol
The Mimblewimble protocol is a blockchain protocol that focuses on privacy and scalability. It achieves these goals through a range of innovative cryptographic techniques:
Confidential Transactions: This feature allows transaction amounts to be encrypted, ensuring that only the involved parties can view the specifics of the transaction. This encryption is achieved through cryptographic commitments known as Pedersen commitments.
Cut-through: Mimblewimble employs a method known as "cut-through," which condenses the blockchain by removing redundant transaction data. This reduces the size of the blockchain and enhances scalability.
No Addresses: Unlike traditional cryptocurrencies that use fixed addresses, Mimblewimble transactions do not involve permanent addresses, further enhancing privacy.
Aggregated Signatures: Transactions are verified through aggregated signatures, reducing the amount of data required on the blockchain and increasing efficiency.
How MimbleWimble Coin works
MWC utilizes the Mimblewimble protocol to ensure that transactions remain private and efficient. Each transaction in the MWC network is constructed in a way that only the involved parties can verify the transaction amount and the integrity of the transaction. This is achieved through the use of confidential transactions and cut-through technologies, which maintain the blockchain's size and privacy.
Benefits of MimbleWimble Coin
MWC offers several key benefits owing to its implementation of the Mimblewimble protocol:
Enhanced Privacy: By encrypting transaction amounts and removing permanent addresses, MWC ensures that user identities and transaction details are kept private.
Scalability: The cut-through feature allows for a more compact blockchain, making it easier to scale compared to traditional blockchains.
Fungibility: With no permanent transaction history accessible to outsiders, all coins remain fungible, meaning each coin is indistinguishable from another, enhancing their usability as a medium of exchange.
Use cases for MimbleWimble Coin
MWC is suitable for a range of use cases that prioritize privacy and efficiency:
Private Transactions: Individuals and businesses looking for confidential financial transactions can utilize MWC to ensure their transaction details remain private.
Efficient Blockchain Solutions: Developers and enterprises seeking scalable blockchain solutions can benefit from MWC's compact blockchain technology.
Digital Cash System: MWC serves as a digital cash system where privacy is paramount, making it ideal for users who require anonymous transactions.