Mimblewimble

The origins of Mimblewimble don’t need retelling again, but its evolution does. Although utilized by both Grin and Beam – and soon Litecoin too – it is the Beam iteration of Mimblewimble that has applications for the broadest range of users. Understanding how Mimblewimble works isn’t easy, unless you’re au fait with elliptic curve cryptography. Even Beam’s attempt at explaining the process via a series of dumbed down metaphors takes some digesting.

What’s relevant here isn’t so much the way in which Mimblewimble works, but the fact that it can provide complete transactional anonymity between parties while being compatible with implementations such as Beam that enable optional audibility. Digitally signed documentation can be attached to transactions, giving an approved auditor permission to view the transactions associated with a particular key. For cypherpunks intent on concealing their activity from snooping governments, that ability will be of little interest, but for businesses that wish to conceal their day-to-day affairs from the public (paying staff, contractors, and purchasing goods) while still remaining compliant from an accounting perspective, it’s extremely useful.

Source:

https://news.bitcoin.com/conceal-and-reveal-the-evolution-of-privacy-coin-technology/?utm_source=OneSignal%20Push&utm_medium=notification&utm_campaign=Push%20Notifications