![]() Whilst we don't know (without the help of blockchain analytics tools such as Elliptic) who owns these addresses, that's still quite a bit of information we can use for well known data analytics techniques such as common spend clustering (the grouping of input addresses) and change prediction (identifying any output addresses which belong to the sender).Īs such, the transparency of transactions on the Bitcoin blockchain allows for any node on the network to help validate and process transactions but also reveals quite a lot of information. ![]() We can see that this transaction has two inputs and three outputs, and we can see how much is associated with each address. To understand this we first need to revisit the design of the Bitcoin blockchain and take a look at a transaction (n.b this holds for Litecoin transactions too): In a sidechain we would not introduce a new cryptocurrency but it would be a separate chain. I think the way if people were experimenting with this, I would expect it to be an experimental separate chain or sidechain. It may not be impossible, but it would be hard. ![]() However Bitcoin Core developer Peter Wuille had already outlined some of the challenges in a 2016 podcast (and even neatly predicted some of the details for the Litecoin implementation which would follow 6 years later) Introducing mimblewimble into bitcoin in a backwards-compatible way would be a difficult exercise. There remained questions about whether the technology would be brought to other chains, like Bitcoin, in order to help boost privacy. For in depth analysis of the Grin vs Beam implementation I'd recommend this piece: However Grin wasn't the only implementation of MimbleWimble - the Beam blockchain launched in March 2018 and has now seen almost 6m transactions processed. This project was named Grin and the testnet launched in Nov 2017.įollowing contributions by many other Harry Potter characters including wand maker Garrick Ollivander, Gryffindor student Seamus Finnigan, weeping ghost Moaning Myrtle and many more, the Grin mainnet launched in November 2019 and has now seen over 3m transactions processed. Shortly after this, another Harry Potter inspired pseudonymous developer Ignotus Peverell (the original owner of the invisibility cloak) posted a partial implementation as a github project: ignopeverell/grin. This garnered some attention and was soon picked up by well know bitcoiner and cryptographer Andrew Poelstra who released a 'refined' version in October 2016. ![]() Ī developer under the pen name Tom Elvis Jedusor (the French version of Voldemort) published the MimbleWimble paper on the IRC channel #bitcoin-wizards in July 2016. #Mweb litecoin upgradeLet's unpack what this upgrade is looking to bring to the Litecoin network and how it works under the hood. It's named after a tongue tying spell in Harry Potter which stops you revealing secrets. MimbleWimble is a privacy and scalability upgrade which was first deployed on the Grin network in January 2019 and is now planned for activation on the Litecoin network within the upcoming v0.21.X release (included in this upgrade is also Taproot for Litecoin). If you thought the later you're actually a little closer, because this is an upgrade coming to the Litecoin network and it is in fact named after a Harry Potter spell! You may have looked at the title of this piece and thought I'd gone slightly crazy, or that I'd decided to do a left field piece about Harry Potter spells. ![]()
0 Comments
Leave a Reply. |
Details
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |