Forwarded from crypto eli5
grin
the first effort to implement mimblewimble protocol started in november 2016 under the name grin. the initial code was posted on irc by ignotus peverell who is still the most active grin contributor. this implementation is written in rust with most core features already implemented. grin is currently at testnet3 with one more testnet planned before launch.
besides the very impressive core protocol, here are some interesting features that are already working in grin:
- cuckoo cycle mining.
- schnorr signatures, also called aggregate signatures, paving the way to noscriptless noscripts and smart contracts.
- dandelion, which makes initial sender ip more difficult to track. all transactions wander a little across network before getting broadcasted.
- bulletproofs, which allow for confidential transactions with much smaller zero-knowledge proofs and require no trusted setup.
- flyclient, a super light client which syncs the merkle root of all previous block headers instead of references to the previous block. it allows to check the inclusion of any previous block by just storing the head.
- atomic swaps, the first being done against ethereum.
grin decided not to engage in ico and doesn't accept any money other than donations. the project has recently raised about $57k to fund a full-time developer till february 2019.
grin-tech.org
https://github.com/mimblewimble/grin
the first effort to implement mimblewimble protocol started in november 2016 under the name grin. the initial code was posted on irc by ignotus peverell who is still the most active grin contributor. this implementation is written in rust with most core features already implemented. grin is currently at testnet3 with one more testnet planned before launch.
besides the very impressive core protocol, here are some interesting features that are already working in grin:
- cuckoo cycle mining.
- schnorr signatures, also called aggregate signatures, paving the way to noscriptless noscripts and smart contracts.
- dandelion, which makes initial sender ip more difficult to track. all transactions wander a little across network before getting broadcasted.
- bulletproofs, which allow for confidential transactions with much smaller zero-knowledge proofs and require no trusted setup.
- flyclient, a super light client which syncs the merkle root of all previous block headers instead of references to the previous block. it allows to check the inclusion of any previous block by just storing the head.
- atomic swaps, the first being done against ethereum.
grin decided not to engage in ico and doesn't accept any money other than donations. the project has recently raised about $57k to fund a full-time developer till february 2019.
grin-tech.org
https://github.com/mimblewimble/grin
Forwarded from crypto eli5
beam
the story of mimblewimbe doesn't end here. there is another implementation which started in april 2018 called beam. it's is written from scratch in c++. desipte being only 6 month in development, beam has already launched a testnet (with a graphical wallet!) and the team is on track to launch the network in december 2018, probably earlier than grin.
unlike grin, which has infinite inflation, beam has a finite supply with periodic reward halving. similar to zcash, there is founder's reward with 20% of the mined coins sent into developer treasury for the first 5 years. selling some of the treasury has allowed beam to fund a larger development team.
in addition to the features outlined above, some interesting parts of beam include:
- equihash mining.
- further improvements on dandelion with transaction merging during the stem phase.
- batch bulletproofs.
- super lightweight flyclient implementation.
- secure bbs, which drops the requirement for sender and receiver to be online at the same time.
- auditable wallet, with ability to issue one or more audit keys for third parties.
- graphical and mobile wallets, all acting as full nodes. integration with hardware wallets.
- atomic swaps with bitcoin via p2p exchange within the wallet.
@beamprivacy
beam-mw.com
the story of mimblewimbe doesn't end here. there is another implementation which started in april 2018 called beam. it's is written from scratch in c++. desipte being only 6 month in development, beam has already launched a testnet (with a graphical wallet!) and the team is on track to launch the network in december 2018, probably earlier than grin.
unlike grin, which has infinite inflation, beam has a finite supply with periodic reward halving. similar to zcash, there is founder's reward with 20% of the mined coins sent into developer treasury for the first 5 years. selling some of the treasury has allowed beam to fund a larger development team.
in addition to the features outlined above, some interesting parts of beam include:
- equihash mining.
- further improvements on dandelion with transaction merging during the stem phase.
- batch bulletproofs.
- super lightweight flyclient implementation.
- secure bbs, which drops the requirement for sender and receiver to be online at the same time.
- auditable wallet, with ability to issue one or more audit keys for third parties.
- graphical and mobile wallets, all acting as full nodes. integration with hardware wallets.
- atomic swaps with bitcoin via p2p exchange within the wallet.
@beamprivacy
beam-mw.com
Forwarded from crypto eli5
battle of the privacycoins
bitcoin magazine has published an amazing series about different privacy-oriented coins.
- bitcoin as a privacycoin
- why dash is not really that private
- why monero is hard to bead (and hard to scale)
- verge offers little privacy and nothing unique
- zcash is groundbreaking (if you trust it)
- what we know about grin and beam's mimblewimble
bitcoin magazine has published an amazing series about different privacy-oriented coins.
- bitcoin as a privacycoin
- why dash is not really that private
- why monero is hard to bead (and hard to scale)
- verge offers little privacy and nothing unique
- zcash is groundbreaking (if you trust it)
- what we know about grin and beam's mimblewimble