{"id":9731,"date":"2023-07-21T02:24:41","date_gmt":"2023-07-21T02:24:41","guid":{"rendered":"https:\/\/www.bitnovo.com\/blog\/?p=9731"},"modified":"2022-05-16T19:58:40","modified_gmt":"2022-05-16T19:58:40","slug":"what-is-mimblewimble-and-how-does-it-work","status":"publish","type":"post","link":"https:\/\/www.bitnovo.com\/blog\/en\/what-is-mimblewimble-and-how-does-it-work","title":{"rendered":"What is Mimblewimble and how does it work?"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-transparent ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Alternar tabla de contenidos\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #ffffff;color:#ffffff\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #ffffff;color:#ffffff\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-mimblewimble-and-how-does-it-work\/#history_of_mimblewimble\" >History of Mimblewimble<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-mimblewimble-and-how-does-it-work\/#how_does_it_work\" >How does it work?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-mimblewimble-and-how-does-it-work\/#who_uses_mimblewimble\" >Who uses Mimblewimble?<\/a><\/li><\/ul><\/nav><\/div>\n<span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Tiempo de lectura:<\/span> <span class=\"rt-time\"> 3<\/span> <span class=\"rt-label rt-postfix\">minutos<\/span><\/span><p>Mimblewimble is a<strong>\u00a0protocol<\/strong>\u00a0that aims to revolutionize the cryptocurrency\u00a0<strong>security system<\/strong>. This is possible because this protocol offers users\u00a0<strong>confidential transactions<\/strong>\u00a0to protect privacy.<\/p>\n<p>This protocol is a blockchain-type design that uses transactions in which<strong>\u00a0the address and value of the transaction is hidden<\/strong>, providing a high level of security to users.<\/p>\n<p>In short, it is an alternative\u00a0<strong>Proof of Work (PoW)<\/strong>\u00a0implementation that enhances privacy on the blockchain by providing security and anonymity to its users.<\/p>\n<p>Remember that one of the problems faced by Bitcoin, Ethereum or other cryptocurrencies is that the cryptocurrency needed to increase users\u2019 security is stored in the blockchain, taking up a lot of space and making it heavier and less scalable.<\/p>\n<p>Thanks to Mimblewimble all this data is not recorded within the blockchain as individual but grouped together in one big transaction. This allows the network significant savings in terms of storage space.<\/p>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<h2><span class=\"ez-toc-section\" id=\"history_of_mimblewimble\"><\/span><strong>History of Mimblewimble<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Mimblewimble\u2019s beginnings date back to\u00a0<strong>2016<\/strong>\u00a0when Bitcoin developer chat room user\u00a0<strong>Tom Elvis Jedusor<\/strong>\u00a0introduced the project to the network. The first paper presented on this design detailed a protocol that offered<strong>\u00a0increased security and scalability<\/strong>\u00a0to the blockchain.<\/p>\n<p>Although this project was based on the\u00a0<strong>Bitcoin network<\/strong>\u00a0and shared the basic ideas, it still showed a number of\u00a0<strong>unanswered questions<\/strong>. Blockstream researcher\u00a0<strong>Andrew Poelstra<\/strong>\u00a0devoted himself to studying and improving the initial concept until he wrote an article explaining his vision of the protocol.<\/p>\n<p>Over the years, several researchers have been studying the possibilities offered by\u00a0<strong>Mimblewimble<\/strong>. Some think that this protocol implemented in the Bitcoin network would help to\u00a0<strong>improve<\/strong>\u00a0its operation, while others claim that it would be<strong>\u00a0too complex.<\/strong><\/p>\n<p>In June\u00a0<strong>2019<\/strong>, the Mimblewimble\u00a0<strong>white paper<\/strong>\u00a0first became known under the signature of the pseudonym we already knew, Tom Elvis Jedusor (French version of the Muggle name of Voldemort). Shortly after a user, also anonymous under the pseudonym\u00a0<strong>Ignotus Peverell<\/strong>\u00a0launched a project on\u00a0<strong>Github<\/strong>\u00a0(platform for project development) under the Mimblewimble protocol. This project is\u00a0<strong>Grin<\/strong>\u00a0and was the first of several projects to implement Mimblewimble in its operation.<\/p>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div class=\"col small-12 large-12\">\n<div class=\"col-inner\">\n<div id=\"image_1815022604\" class=\"img has-hover x md-x lg-x y md-y lg-y\">\n<div class=\"img-inner dark\"><img fetchpriority=\"high\" decoding=\"async\" class=\"attachment-large size-large lazyloaded\" src=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/02\/Qu%C3%A9-es-mimblewimble_Mesa-de-trabajo-1_Mesa-de-trabajo-1-1024x701.jpg\" sizes=\"(max-width: 1020px) 100vw, 1020px\" srcset=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/02\/Qu\u00e9-es-mimblewimble_Mesa-de-trabajo-1_Mesa-de-trabajo-1-1024x701.jpg 1024w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/02\/Qu\u00e9-es-mimblewimble_Mesa-de-trabajo-1_Mesa-de-trabajo-1-300x206.jpg 300w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/02\/Qu\u00e9-es-mimblewimble_Mesa-de-trabajo-1_Mesa-de-trabajo-1-768x526.jpg 768w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/02\/Qu\u00e9-es-mimblewimble_Mesa-de-trabajo-1_Mesa-de-trabajo-1-1536x1052.jpg 1536w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/02\/Qu\u00e9-es-mimblewimble_Mesa-de-trabajo-1_Mesa-de-trabajo-1.jpg 1600w\" alt=\"Qu\u00e9 es mimblewimble Bitnovo\" width=\"1020\" height=\"698\" data-srcset=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/02\/Qu\u00e9-es-mimblewimble_Mesa-de-trabajo-1_Mesa-de-trabajo-1-1024x701.jpg 1024w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/02\/Qu\u00e9-es-mimblewimble_Mesa-de-trabajo-1_Mesa-de-trabajo-1-300x206.jpg 300w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/02\/Qu\u00e9-es-mimblewimble_Mesa-de-trabajo-1_Mesa-de-trabajo-1-768x526.jpg 768w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/02\/Qu\u00e9-es-mimblewimble_Mesa-de-trabajo-1_Mesa-de-trabajo-1-1536x1052.jpg 1536w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/02\/Qu\u00e9-es-mimblewimble_Mesa-de-trabajo-1_Mesa-de-trabajo-1.jpg 1600w\" data-src=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/02\/Qu\u00e9-es-mimblewimble_Mesa-de-trabajo-1_Mesa-de-trabajo-1-1024x701.jpg\" data-sizes=\"(max-width: 1020px) 100vw, 1020px\" \/><\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<h2><span class=\"ez-toc-section\" id=\"how_does_it_work\"><\/span><strong>How does it work?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Any blockchain working under the Mimblewimble protocol represents\u00a0<strong>anonymity<\/strong>, so it contains neither the\u00a0<strong>transactions<\/strong>\u00a0nor\u00a0<strong>addresses<\/strong>\u00a0of its users. Instead, it\u00a0<strong>groups them together<\/strong>\u00a0and\u00a0<strong>records<\/strong>\u00a0them in a single transaction that will later be verified and validated without individual details.<\/p>\n<p>While an outsider will only be able to see a\u00a0<strong>random set of data<\/strong>, only the user will be able to see the sorted data. In this way the protocol protects user data such as the\u00a0<strong>public address<\/strong>\u00a0of the sender and receiver and the\u00a0<strong>amount<\/strong>\u00a0received.<\/p>\n<p>Regarding blockchain storage, data is\u00a0<strong>not<\/strong>\u00a0recorded\u00a0<strong>individually<\/strong>\u00a0so the network saves\u00a0<strong>storage space<\/strong>.<\/p>\n<ul>\n<li aria-level=\"1\">A Mimblewimble\u00a0<strong>block<\/strong>\u00a0looks like\u00a0<strong>a single<\/strong>\u00a0transaction rather than a group of transactions. These blocks can be verified without the need for detailed information about each transaction that makes up the block.<\/li>\n<li><strong>Transactions<\/strong>\u00a0allow users to<strong>\u00a0encrypt<\/strong>\u00a0coin amounts, hiding the information from any outside observer. When verifying a transaction, only a\u00a0<strong>list of entries and exits<\/strong>\u00a0with the signatures corresponding to each transaction is seen.<\/li>\n<li aria-level=\"1\">To\u00a0<strong>validate transactions<\/strong>\u00a0under this scheme it is necessary that the number of inputs is\u00a0<strong>equal<\/strong>\u00a0to the number of outputs, being the\u00a0<strong>difference<\/strong>\u00a0between both equal to\u00a0<strong>zero<\/strong>. Therefore, it is only necessary to verify that new currencies created suddenly do not interfere and that the parties to the transaction retain the ownership of the keys.<\/li>\n<\/ul>\n<p>All this validation process is carried out under the cryptographic scheme of the\u00a0<strong>Pedersen scheme<\/strong>. This allows the verification of operations without the miners knowing the amounts to be transferred or the users\u2019 data.<\/p>\n<div class=\"col small-12 large-12\">\n<div class=\"col-inner\">\n<div class=\"is-divider divider clearfix\"><\/div>\n<div id=\"image_831198406\" class=\"img has-hover x md-x lg-x y md-y lg-y\">\n<div class=\"img-inner dark\"><img decoding=\"async\" class=\"attachment-large size-large lazyloaded\" src=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/02\/Qu%C3%A9-es-mimblewimble_Mesa-de-trabajo-1_Mesa-de-trabajo-1_Mesa-de-trabajo-1-1024x701.jpg\" sizes=\"(max-width: 1020px) 100vw, 1020px\" srcset=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/02\/Qu\u00e9-es-mimblewimble_Mesa-de-trabajo-1_Mesa-de-trabajo-1_Mesa-de-trabajo-1-1024x701.jpg 1024w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/02\/Qu\u00e9-es-mimblewimble_Mesa-de-trabajo-1_Mesa-de-trabajo-1_Mesa-de-trabajo-1-300x206.jpg 300w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/02\/Qu\u00e9-es-mimblewimble_Mesa-de-trabajo-1_Mesa-de-trabajo-1_Mesa-de-trabajo-1-768x526.jpg 768w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/02\/Qu\u00e9-es-mimblewimble_Mesa-de-trabajo-1_Mesa-de-trabajo-1_Mesa-de-trabajo-1-1536x1052.jpg 1536w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/02\/Qu\u00e9-es-mimblewimble_Mesa-de-trabajo-1_Mesa-de-trabajo-1_Mesa-de-trabajo-1.jpg 1600w\" alt=\"Qu\u00e9 es mimblewimble Bitnovo\" width=\"1020\" height=\"698\" data-srcset=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/02\/Qu\u00e9-es-mimblewimble_Mesa-de-trabajo-1_Mesa-de-trabajo-1_Mesa-de-trabajo-1-1024x701.jpg 1024w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/02\/Qu\u00e9-es-mimblewimble_Mesa-de-trabajo-1_Mesa-de-trabajo-1_Mesa-de-trabajo-1-300x206.jpg 300w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/02\/Qu\u00e9-es-mimblewimble_Mesa-de-trabajo-1_Mesa-de-trabajo-1_Mesa-de-trabajo-1-768x526.jpg 768w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/02\/Qu\u00e9-es-mimblewimble_Mesa-de-trabajo-1_Mesa-de-trabajo-1_Mesa-de-trabajo-1-1536x1052.jpg 1536w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/02\/Qu\u00e9-es-mimblewimble_Mesa-de-trabajo-1_Mesa-de-trabajo-1_Mesa-de-trabajo-1.jpg 1600w\" data-src=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/02\/Qu\u00e9-es-mimblewimble_Mesa-de-trabajo-1_Mesa-de-trabajo-1_Mesa-de-trabajo-1-1024x701.jpg\" data-sizes=\"(max-width: 1020px) 100vw, 1020px\" \/><\/div>\n<\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<h2><span class=\"ez-toc-section\" id=\"who_uses_mimblewimble\"><\/span><strong>Who uses Mimblewimble?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>This system has been implemented in some cryptocurrencies that you can make use of. Here are some of them:<\/p>\n<ul>\n<li aria-level=\"1\"><b>Grin\u00a0<\/b>was\u00a0<strong>the first cryptocurrency<\/strong>\u00a0to implement the Mimblewimble protocol to its system. The main objective of this cryptocurrency is to enable\u00a0<strong>scalability<\/strong>\u00a0while\u00a0<strong>shielding<\/strong>\u00a0the transactions made in it.<\/li>\n<\/ul>\n<ul>\n<li aria-level=\"1\"><b>Beam\u00a0<\/b>is another cryptocurrency that uses the Mimblewimble protocol. This cryptocurrency focuses on\u00a0<strong>anonymity<\/strong>\u00a0and\u00a0<strong>scalability<\/strong>. It offers confidential transactions and the information regarding these transactions is securely stored on the blockchain.<\/li>\n<\/ul>\n<ul>\n<li aria-level=\"1\">Litecoin offers its users greater\u00a0<strong>fungibility and privacy<\/strong>\u00a0thanks to recent tests conducted under this protocol. Although it has not yet implemented it, it is on its way to do so. At the moment the tests are being conducted on Litecoin\u2019s\u00a0<strong>Testnet<\/strong>\u00a0network.<\/li>\n<\/ul>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p><span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Tiempo de lectura:<\/span> <span class=\"rt-time\"> 3<\/span> <span class=\"rt-label rt-postfix\">minutos<\/span><\/span>Mimblewimble is a\u00a0protocol\u00a0that aims to revolutionize the cryptocurrency\u00a0security system. This is possible because this protocol offers users\u00a0confidential transactions\u00a0to protect privacy. This protocol is a blockchain-type design that uses transactions in which\u00a0the address and value of the transaction is hidden, providing a high level of security to users. In short, it is an alternative\u00a0Proof of Work [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":8248,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[185],"tags":[],"class_list":["post-9731","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-en"],"_links":{"self":[{"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/posts\/9731","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/comments?post=9731"}],"version-history":[{"count":0,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/posts\/9731\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/media\/8248"}],"wp:attachment":[{"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/media?parent=9731"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/categories?post=9731"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/tags?post=9731"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}