MimbleWimble

A guide to essential crypto terminology specific to Minergate, highlighting key terms related to mining, wallets, and transactions in cryptocurrency.

MimbleWimble is a blockchain protocol that enhances privacy and scalability. It was introduced in 2018 and named after a spell from the Harry Potter series. The protocol allows users to conduct transactions without revealing information about the transaction amounts or the addresses involved.One of the key features of MimbleWimble is its use of Confidential Transactions, which encrypt transaction amounts. This means that only the parties involved can see how much is being sent, making transactions more private.Additionally, MimbleWimble enhances scalability by not storing all transaction details on the blockchain. Instead, it allows for data to be aggregated and only essential information is kept, reducing the overall size of the blockchain. This helps improve performance and efficiency.Several cryptocurrencies, such as Grin and Beam, have adopted MimbleWimble to provide users with a more secure and private way to transact. Overall, MimbleWimble aims to create a balance between privacy, scalability, and security in blockchain transactions.

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