13 Michael Cordner: The future of Grin
Grin Creator Starts Integration of Mimblewimble Protocol into Litecoin
Litecoin continues to move towards private transactions.
When the blockchain network will receive the function of anonymous transactions is still unknown.
Previously, the idea of Mimblewimble was criticized for a fundamental flaw that so far cannot be solved in any way..
The developer of the Grin cryptocurrency and the Mimblewimble protocol announced the launch of a test framework and the integration of the protocol into the Litecoin codebase.
The integration of anonymity through the Mimblewimble protocol into Litecoin has already begun. This was stated by the developer of the protocol and cryptocurrency Grin David Burkett.
Burkett claims to have created a functional test framework that creates anonymous headers, blocks, and transactions.
Also, the Grin developer has already begun integration with the Litecoin codebase..
“I haven’t created a repository for this part yet, but I will try to release it on github in the next few weeks as soon as I have the opportunity to clean up the code a little,” Burkett writes..
Burkett does not know exactly when the development of the implementation of anonymous transactions in the Litecoin network will be completed.
According to him, there are still several months of testing and further development ahead..
Recall that the creator of the Mimblewimble protocol is developing a function of enhanced anonymity of transactions based on Grin ++ in cooperation with the Litecoin Foundation.
Previously, the main disadvantage of such anonymity was the need for the sender and the recipient to be simultaneously present on the network at the time of the transaction..
However, there are those who believe that Mimblewimble does not have the proper level of anonymity, which is reported..
Earlier, Ivan Bogatyi, a researcher at the Dragonfly Capital venture capital fund, published a report on the study of the above protocol on GitHub..
According to the results of the study, a critical flaw was found in Mimblewimble, which has not yet been resolved.
Rich rented Amazon Web Services capacity for $ 60 a week and connected to 200 of the 3,000 peers on the Grin network.
As a result of the received capacities, Rich was able to identify the senders and recipients of 96% of transactions.
By connecting to 3,000 peers, 99% of transactions can be tracked, notes Rich.
Earlier, the editorial staff of BeInCrypto wrote that the head of Coinbase Brian Armstrong sees the inevitability of the popularization of anonymous cryptocurrencies like Monero or ZCash..
The hype around anonymous cryptocurrencies is already starting to gain momentum. For example, a TV movie describing the benefits of confidential Monero has hit the box office amid the coronavirus pandemic..
What do you think? Will Litecoin be able to obtain complete anonymity of transactions? Share with us with our thoughts in comments.