I've always found very weird that the creator of bitcoin the worlds first Cryptocurrency and the blockchain technology is still an anonymous character. When I read about it, it blew my mind. Why not take credit on such a creation, I associated it with fear from gaining enemies from this powerful creation. It also appears that anonymity within the developer world is something more common than I thought.
Recently I was introduced to Mimblewimble… Mimblewimble? A Harry Potter spell? Well, it turns out I was never a big fan of Harry, thus never heard this Mimblewimble term. The wizard, “Alastor Moody set up curses to protect the Order of the Phoenix headquarters at 12 Grimmauld Place. One of these curses was this spell. It was so placed to prevent Severus Snape from revealing the area's location to Lord Voldemort. The curse was intended to do both, to keep him out and bind his tongue if he tried to talk about the place."
Ok, so Mimblewimble and crypto?
According to mycryptopedia.com, “Mimblewimble is a protocol that was put forward by an anonymous user in a Bitcoin developers chatroom by the name of Tom Elvis Jedusor (the French name of fictional Harry Potter character Voldemort). Mimblewimble itself is the name of a spell used to tongue-tie victims in Harry Potter. Jedusor left a link to a whitepaper in which he outlines that by using the Mimblewimble protocol, the scalability, as well as the privacy of the Bitcoin network could significantly be enhanced". First of all, I have to point out the fact that once again like Satoshi Nakamoto, the mastermind behind such a protocol is anonymous. I believe this is a "thing" within the developer world.
In a previous blog, I wrote about lightning payments and how this intends to be a new alternative to the large-scale payment problem that exists within the current cryptocurrency system. I ended my last blog stating that crypto was still in its early stages and that there would be much more ideas such as lightning payments that will be developed to better the system. To my surprise, it was faster than I thought and it seems everything within the crypto and blockchain community is ten steps ahead then what we believe.
I've researched how this protocol works, and like all things in the crypto world it's not easy to explain, but I believe that the most crucial aspect that Mimblewimble brings is "The space savings, as well as the privacy offered through the use of the Mimblewimble protocol, is clear. By pruning the blockchain of unnecessary transaction data, scalability becomes less of an issue because more transactions can be included in a single block. Due to the obfuscation of inputs and outputs, as well as the elimination of public addresses in Mimblewimble transactions, true anonymity, as opposed to pseudonymity, is achieved”.
True anonymity, that's where I can relate this Harry Potter spell. The Mimblewimble spell stopped people from revealing Lord Voldemorts and protect the Order of the Phoenix headquarters top secret location. Similar to crypto were no one can tell where crypto transactions came from with this new protocol. The true anonymity of senders and receivers. Brilliant comparison from the username: Tom Elvis Jedusor.
Hope you enjoyed it, feel free to comment