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A proposed alternative lightweight blockchain protocol that uses confidential transactions and CoinJoin.

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BEAM, the MimbleWimble Cryptocurrency, Announces the Launch of the iOS Wallet

Beam Launches The iOS Wallet Application. Beam Development Limited announced on their official Twitter page the release of the Beam iOS wallet application for Apple users. The Beam iOS wallet becomes the third release from the MimbleWimble protocol based cryptocurrency after earlier desktop and Android wallets. You asked it, we've done it. $Beam Wallet is […]
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How the Future of Finance Looks in Bitcoin For Businesses, Cryptocurrency for Companies

In an episode from the Unchained podcast, cryptocurrency Beam shared its views on how business may be able to one day incorporate cryptocurrency into their operations. Alexander Zaidelson, Beam’s CEO, discussed that his platform is developed on MimbleWimble, a new protocol that creates confidential transactions using less computer power. The transactions use less computer power, […]
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Q1 Report: CoinGecko Acknowledges Mimblewimble, IEOs, and Cosmos Launch

In the world of crypto technologies and magic Internet money, a single quarter can seem like a decade. CoinGecko, however, has finally released their Q1 findings to remind the space of an exciting 2019 thus far. The data platform outlines the top events that opened the new year including implementations of Mimblewimble, the rise ofRead MoreRead More. The post by Liam J Kelly appeared first on BTCManager, Bitcoin, Blockchain & Cryptocurrency News\
BTC Manager

Litecoin Achieves New Heights As Lightning Strikes Twice

Litecoin, the sixth-largest cryptocurrency asset by market capitalization, has recently set a new high in mining hashrate – and a new record number of Lightning nodes. The eight-year-old cryptocurrency continues to defy predictions of its demise, with new adaptations like Mimblewimble and the Lightning Network demonstrating its viability against other altcoins. According to data provided by BitInfoCharts, the network peaked at 359.43TH/s on April 8th, eclipsing the previous high reached 11 months ago at 342.88TH/s. Historically, Litecoin’s hashrate has tailed its price action with varying speed. It generally increases slowly through bullish movements as miners purchase and install new equipment to keep up, and falls dramatically when prices drop, causing miners to pull their plugs.   Via BitInfoCharts.   However, the crypto space’s recent spark has pushed Litecoin’s price up again, and its hash rate is now higher than ever. This is likely due to the influx of previously installed mining gear being reactivated and put back to work as the market greens. Lightning Funding Grows Tenfold In Months Furthermore, there’s been a marked increase in the number of Lightning nodes, the transaction validators which run the second-layer payments network. When Crypto Briefing last covered the subject in January, Litecoin’s node count has just broken 100.  Since then, the Lightning Network has seen that number nearly double, now sitting at 184, growing an average of 21% each month. In the same time period, the value of the network grew enormously. The cumulative value of all Litecoin payment channels grew from 26.73 LTC at the beginning of the year to nearly 294 LTC today. That’s nearly an eleven-fold increase since January, and a 71% increase over the past thirty days. That’s good news for the Litecoin community, which has sometimes struggled to find relevance in a market dominated by newer, faster competitors. The double whammy of a huge increase in nodes and network value represents a huge positive for LTC. Whether or not these developments can bring LTC to the front of the pack, the latest sprints show that Litecoin will remain a contender for quite some time.   The post Litecoin Achieves New Heights As Lightning Strikes Twice appeared first on Crypto Briefing.
CryptoBriefing

Buy Bitcoin, Sell Litecoin (LTC)? Abra CEO Begs To Differ

Buy BTC, Sell LTC? For some odd reason, the recent rally in the Litecoin price has sparked a debate about its long-term staying power, especially in an industry continually dominated by its parent chain, Bitcoin (BTC). The popular altcoin may be up over 300% since December’s bottom, but many are still taking issue with it. In fact, Mike Novogratz, the head of Galaxy Digital, recently explained that LTC is overvalued and that investors should buy BTC instead. Novogratz, a proponent for primarily Bitcoin and Ethereum, explained that silver’s $15 billion market capitalization is 0.17% that of gold, which sports a hefty $8.5 trillion valuation. But, LTC — being historically the silver to digital gold Bitcoin — has 6.4% of BTC’s market capitalization. He adds that Litecoin is just a “glorified testnet for Bitcoin.” This, of course, implies that the investor thinks that LTC is too highly valued for its own good. However, Bill Barhydt, CEO of Abra, recently came to the asset’s rescue in a segment with Cheddar, a media startup. The American entrepreneur, formerly of NASA, the CIA, and Goldman Sachs, explains that whether it be Ethereum, XRP, or otherwise, many other chains are solving problems in their own right, with “Litecoin is the perfect case in point.” Barhydt explains that Litecoin’s move to integrate MimbleWimble, a privacy solution, and the chain’s classification as the “perfect Bitcoin test bed” cements its value in this ever-changing ecosystem. Barhydt isn’t speaking out of his rear end, so to speak, as his company has used the chain for practical purposes. The Abra chief tells me in an interview that Abra, which provides financial services through blockchain-based contracts, uses Litecoin and Bitcoin currently. While the latter bears much of Abra’s load at the moment, the former is what Barhydt sees as a way for his company to increase liquidity and mitigate risks of network clog. The fact that Litecoin’s block times are one-quarter that of Bitcoin helps, I’m sure. And Charlie Lee thinks that too. In a recent tweet, the Litecoin creator fought back against LTC bears. Lee, a former Coinbase employee, explains that Litecoin has value especially when Bitcoin has high transaction fees. In fact, with a platform called Boltz, a cross-chain “submarine swap” can allow users to send LTC to fill up their BTC wallet, this being a use-case for the former in and of itself. Litecoin a glorified testnet?BTC LN makes LTC useless?Can't be more wrong!High BTC fees? With https://t.co/Q6tfOYkIbb, just do a cross chain submarine swap from LTC on-chain to BTC⚡️. Send LTC to fill up your BTC⚡️ wallet! 🤯Fast: ~2.5 minsCheap: pennies in fees#reckless https://t.co/4NB7VO9dcT— Charlie Lee [LTC⚡] (@SatoshiLite) April 4, 2019 Critics Double-Down On Bitcoin Love, Litecoin Skepticism Yet, many have still maintained that LTC might not survive in the long run. In response to Charlie Lee’s above tweet, Francis Pouliot, a prominent figure in the Canadian Bitcoin space, called LTC investors “suckers.” CobraBitcoin remarked that Lee sounded awfully like Roger Ver. And Mr. Hodl noted that Charlie shouldn’t have a reason to keep on trying to “pamp [LTC],” citing the insider’s move to liquidate his stack. Regardless, analysts have come to the conclusion that the altcoin will rally no matter how sentiment fares. As established in previous reports, commentators across the board see Litecoin’s block reward reduction as a decidedly bullish catalyst for LTC. Photo by Alex on Unsplash The post Buy Bitcoin, Sell Litecoin (LTC)? Abra CEO Begs To Differ appeared first on Ethereum World News.
Ethereum World News

MimbleWimble | An Answer to Scalable Blockchain Privacy

Achieving blockchain privacy and fungibility without sacrificing throughput has been a notoriously difficult challenge. Privacy enhancing upgrades such as zk-SNARKS and Confidential Transactions typically result in lower transaction capacity and higher transaction costs. MimbleWimble, an alternative blockchain design, promises to surmount this challenge. The Harry Potter named design came into the public light in 2016 when Tom Elvis Jedusor released it on a developer website. Since then, researchers and developers from different blockchain projects have contributed to its development. Several teams are currently looking to bring MimbleWimble blockchains into public usage. Let’s have a look at what’s under MimbleWimble’s hood. Alternative Blockchain Design MimbleWimble’s design is significantly different from UTXO blockchains like Bitcoin. For a start, there are no addresses and no scripting language, the rudimentary programming language used in Bitcoin. In Bitcoin transactions, old outputs sign new outputs. All these outputs have their own uniquely scripted public keys. Users prove they have the funds they are claiming by signing transactions with their private key. Whereas, in MimbleWimble, we do away with scripting altogether. Instead, outputs have their own corresponding public keys. A grand multi-signature key, also known as an excess value, is calculated by subtracting all the inputs of a transaction plus the transaction fee from all the outputs. By proving the value equals zero, it verifies that no new coins have been minted while simultaneously not revealing any transaction amounts. Furthermore, it negates the need for and the storage of all the output keys that nodes deal with. This massively reduces the amount of data that transactions take up in blocks and the total size of the blockchain. The protocol uses blinding factors and Pedersen schemes to obfuscate transaction values. In combination, these features cryptographically ensure that only the sender and receiver in a transaction know the amounts exchanged. When transacting, the recipient generates this blinding factor and shares it only with the sender. A MimbleWimble transaction contains just inputs, outputs, and a multi-signature key. Inputs simply reference previous outputs. Outputs are like transaction amounts but also contain the blinding factors and range proofs. Finally, the multi-signature key acts as a signature and verifies that senders bear the assets they are claiming. There are no new cryptographic assumptions in MimbleWimble, rather just an innovative redesign of how transactions and blocks are structured. As such, the underlying cryptographic assumptions are well tested. However, just like Bitcoin, MimbleWimble is vulnerable to advances in quantum computing. MimbleWimble inherits the same vulnerabilities from Elliptic Curve Cryptography as Bitcoin. Achieving Privacy with Scalability MimbleWimble is able to offer near-total privacy without making significant scalability tradeoffs. Transaction amounts, as well as senders and receivers, are all kept hidden. Typically, privacy-focused blockchains, such as Monero and Zcash, have much lower throughput and higher fees than less private projects. In effect, with MimbleWimble nodes are maintaining updated summaries between transactions. This mechanism differs from, say Bitcoin, in which they store and validate every transaction signature back to the genesis block. The result of this is that, despite the privacy-enabling cryptography, MimbleWimble blockchains can be of similar size and transaction capacity as Bitcoin. Limitations Despite solving the dilemma of privacy and scalability, MimbleWimble does have two notable disadvantages. Scripting One of the biggest downsides to MimbelWimble is that it removes the scripting language altogether. This reduces any blockchain functionality beyond simple value transfer and monetary purposes. This functionality reduction means that second layer protocols like the Lightning Network will be far harder to integrate. It is possible, however, to replicate some of the functionality currently offered by scripts through multi-signatures and timelock transactions, both of which are still possible with MimbleWimble. Andrew Poelstra, a Bitcoin developer, has stated that further smart contracting functionality is achievable through the combination of Bulletproofs and Scriptless Scripts. Quantum Computing Unfortunately, MimbleWimble has the same vulnerabilities to quantum computing advances as current UTXO blockchains. The protocol relies on elliptic curve cryptography (ECC) for both its privacy and coin issuance controls. Quantum computing could theoretically break ECC, undermining the protocol altogether. It is important to note, though, that developers should be able to preempt any such advances before they take effect. Furthermore, the ramifications would affect most blockchain projects in some way, and it is likely that quantum-secure changes will occur before we reach this point. In fact, according to Poelstra, most of MimbleWimble can be updated with quantum-secure primitives. However, further work is necessary to find satisfactory quantum secure range proofs. Projects There are a few projects actively working on full MimbleWimble implementations. Bitcoin and Litecoin developers are looking at ways to benefit from MimbleWimble’s innovations without sacrificing the existing UTXO design. Grin Grin is an open-source, non-commercial project developing its own MimbleWimble blockchain. Their focus is on providing a private and scalable cryptocurrency. There is no hard cap, and the inflation rate is significant for the first few years of existence. This stops the coin from being a strong store of value. Instead, it intends to be a medium of exchange, i.e. a currency. Beam Beam is another project delivering a MimbleWimble blockchain. Unlike Grin, Beam has more of a commercial background. Transactions include a block reward that goes to its foundation, much like how Zcash operates. Beam has a less inflationary model than Grin, with a hard cap on total supply, positioning itself more as a privacy-enabled store of value as much as a medium of exchange. Beam: A new MimbleWimble blockchain project Litecoin The Litecoin development team are actively considering MimbleWimble as part of a softfork upgrade in 2019. Due to the scripting limitations, among other factors, the team is contemplating integrating the protocol via extension blocks to run alongside the existing Litecoin blockchain. This strategy would allow for the retention of the current Litecoin blockchain and its associated advantages while offering the ability to leverage the privacy of MimbleWimble on demand. In fact, the Litecoin Foundation and Beam are working together on further development. Bitcoin Since MimbleWimble entails an entirely different way to structure transactions, blocks developers cannot simply add it to UTXO blockchains like Bitcoin without sacrificing the existing design. However, it is possible to create MimbleWimble blockchains as sidechains, which can interact with Bitcoin via two-way pegs. This would allow you to interact between the two blockchains, using each one for their respective use cases. This choice would likely be between superior privacy/fungibility and more complex smart contracting functionality with greater security. The post MimbleWimble | An Answer to Scalable Blockchain Privacy appeared first on CoinCentral.
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ESSENTIAL

Monero fees plummet to a couple of cents, as the privacy-centric cryptocurrency releases Beryllium Bullet, a highly anticipated system-wide software upgrade. The core change in Monero 0.13.0 includes the introduction of bulletproofs, a breakthrough cryptographic technology that restructures the verification of Confidential Transactions, the technique that helps Monero obfuscate transacted amounts

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ESSENTIAL

Mimblewimble is an extremely lightweight blockchain protocol that can implemented as both an upgrade to Bitcoin or an independent chain. By taking elliptic-curve cryptography several steps further than Bitcoin, Mimblewimble builds upon a number of techniques such as Confidential Transactions, CoinJoin, and One-way Aggregate Signatures and strips down blockchains of all unnecessary data to bring unprecedented scalability and absolute anonymity

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BTC and ADA Are Showing Positive Signs With Strong Bullruns and Weaker Corrections

The cryptomarket is going through some good times, recovering from the sharp fall it had during 2018. The recovery of the global marketcap, and the high number of developments around cryptos and blockchain technologies has led many analysts to claim that we are close to witnessing not only a stabilization of the markets but also a bullish trend in the short term. Of all the crypto currencies on the ecosystem, BTC has always been the reference token, not only for holding the most powerful position in the top 10 but also for having the highest number of users and software developments. BTC is Having a Great Week BTC has experienced a significant price increase. After a period of constant “Bart Simpsons”, it finally seems that the most important cryptocurrency in the world broke the 5k resistance. This marks an a crucial milestone as it is a a value that could not be reached for months. However, during the last few hours BTC was curiously bullish. The token easily broke the 5.4K to flirt with the 5.6K band. If this trend continues, it could be said that BTC has been bullish for the entire past week, winning between 500 to 600 Dollars per token. BTC. 30 minute candles. After the big green candle, 5580 has become a new support Bitcoin (BTC) 1day candles. courtesy Tradingview Cardano (ADA) Also Shows Some Positive Signs Another token that has been specially bullish is Cardano (ADA) The project that promises to solve the “blockchain trilemma” experienced a a surge of about 10% in less than 24h, standing at one point almost at $0.08 per token. One of the reasons for this rise is the positive reaction of the market to the announcement by Charles Hoskinson (head of the project) saying that IOHK managed to close a an association with the Ethiopian government to popularize the use of Cardano in that region. According to Mr. Hoskinson, thanks to this partnership the Ethiopian authorities, the government will allow its citizens to use ADA to make payments as if it were fiat. Also, residents of Addis Ababa, the capital of the country, will be able to use ADA to pay for public transport services in the city. Right now, Cardano (ADA) experienced a correction that placed the token back to the support at 0.074 USD. The token then went up again to 0.075 with signs of another possible bullish trend in the short term Currently the bullish trend seems to be solid in most of the markets. The signs of a trend reversal are not strong enough to be frightened, however it is important to follow the charts, remembering that cryptocurrencies are extremely volatile. The post BTC and ADA Are Showing Positive Signs With Strong Bullruns and Weaker Corrections appeared first on Ethereum World News.
Ethereum World News

USDX Wallet Announces Integration with First Crypto Exchange, ExMarkets

April 23rd, 2019, Frankfurt, Germany – USDX Wallet is a mobile-first instant transfers solution powered by blockchain technology. It targets crypto holders, allowing individuals to send and receive funds quickly and fee-free. It also covers the needs of an unbanked audience, and those who don’t want to pay commissions within traditional money transfer mobile apps. The USDX Wallet app guarantees multi-level security for all transactions and instant transfers of assets by username, phone number or QR code. The native blockchain used by the USDX Wallet is based on the BitShares protocol and allows 100,000 transactions per second. USDX and LHT Tokenomics The payment system has two cryptocurrencies at its core: USDX token and LHT coin. The USDX token is a stablecoin pegged to the U.S. dollar at a 1:1 ratio via a smart contract. USDX is collateralized by the system’s core cryptocurrency, LHT. The total supply of LHT is 1 billion coins. LHT coins will be released gradually to the market; only 10% of the LHT supply will be issued each year, of which 5% will be freely tradeable and 5% will be locked on the blockchain to provide 200% collateralization. Recent Developments USDX Wallet has not held any private sales or presales, as it has received a sufficiently large venture investment. Future profits of the project will come from business account fees. From December 2018 to January 2019, there was an airdrop that attracted tens of thousands of participants. At the moment, USDX Wallet has surpassed 50,000 verified accounts. For the last several months the team behind the app have been implementing integration with crypto exchanges. The first platform to list LHT will be ExMarkets exchange, with two more exchanges to come. On Exmarkets, LHT will be available in trading pairs with Bitcoin (LHT/BTC) and Ethereum (LHT/ETH). About Exmarkets ExMarkets is a digital asset exchange platform powered by the state-of-the-art trading engine developed in-house. On the exchange, ExMarkets users can trade the most popular cryptocurrencies as well as gain the chance to participate in the token sales of the most promising blockchain and crypto projects through ExMarkets Initial Exchange Offering (IEO) LaunchPad. Recently, ExMarkets was granted two operational licenses for crypto-fiat gateway and custodian service provision by the Estonian regulator making it one of the few certified players in the market. Also, ExMarkets supports EUR (SEPA transfers) deposits to the cryptocurrency exchange and is a part of the CoinStruction liquidity framework which is aggregating order-books from the most well-known cryptocurrency exchanges guaranteeing 24/7 crypto liquidity. It takes only a few minutes to set up an account; users are allowed to make deposits in Bitcoin, Ethereum, other supported cryptocurrencies, and tokens. ________________________________ For more information on USDX Wallet, visit https://usdx.cash. The free USDX Wallet app is available on Google Play and the App Store. Follow USDX Wallet on Medium, Twitter, Facebook and Telegram. ExMarkets platform https://www.exmarkets.com/. Media Contact Details Contact Name: Maria Lobanova Contact Email: mlobanova@usdx.cash Partnership Request Details Contact Email: partners@usdx.cash USDX Wallet is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. Cryptocurrencies and tokens are extremely volatile. There is no guarantee of stable value, or of any value at all. Disclosure: This is a sponsored press release. The post USDX Wallet Announces Integration with First Crypto Exchange, ExMarkets appeared first on NullTX.
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