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> It is eye opening to realize there has never been a situation where one person could simply transfer wealth to someone else without anyone in the middle being

> It is eye opening to realize there has never been a situation where one person could simply transfer wealth to someone else without anyone in the middle being able to say No. Well, this is what the promise of Bitcoin was, but the lack of anonymity in BTC missed the mark by a few inches. Monero (and it's competitors: ZCash, Grin, Beam, MWC, ...), which IIRC uses the Mimblewimble [1] principle to preserve anonymity) bridged that gap a few years after BTC was launched, but by that time, Bitcoin had already grown to a huge size. What I would really like to see in terms of innovation in the crypto world is Mimblewimble being actually added to BTC or ETH. Things would get truly interesting. OTHO, if BTC and ETH had Mimblewimble, they might become a much bigger targets for folks that stand to benefit from controlling free economic transactions between people (governments, etc ...), so who knows, the lack of ZKP in BTC/ ETH might be a blessing in disguise. [1] https://www.coingecko.com/learn/what-is-mimblewimble https://www.coingecko.com/learn/what-is-mimblewimble

tromp 3y ago
Grin and Beam use Mimblewimble, but Monero uses ring signatures to obscure the transaction graph (with every real input hiding among 16 decoys), and Zcash uses ZK-SNARK zero knowledge proofs [1]. This makes the latter two chains grow at a much faster rate [2] and leaves nodes unable to identify the UTXO set of unspent outputs, making them more resource intensive. [1] https://electriccoin.co/blog/explaining-halo-2/ https://electriccoin.co/blog/explaining-halo-2/ [2] https://forum.grin.mw/t/scalability-vs-privacy-chart/8114 https://forum.grin.mw/t/scalability-vs-privacy-chart/8114
friend_and_foe 3y ago
I personally Love Mimblewimble. I'm a Monero user mostly, but I love Grin. John Tromp has a proposal for an interactive coin shuffling protocol for Grin [0] that would negate a lot of the privacy concerns, I personally haven't fully tried to understand it and it seems pretty cumbersome to me compared to Monero. I hope to see it in action so I can get an idea of how it compares. [0] https://forum.grin.mw/t/mimblewimble-coinswap-proposal/8322 https://forum.grin.mw/t/mimblewimble-coinswap-proposal/8322
- phyro 3y ago
  The protocol you linked is noninteractive. The user simply creates an onion-based transaction and sends it to the service. The service collects these and creates a single joint transaction which includes your output.

tromp 3y ago

Grin and Beam use Mimblewimble, but Monero uses ring signatures to obscure the transaction graph (with every real input hiding among 16 decoys), and Zcash uses ZK-SNARK zero knowledge proofs [1]. This makes the latter two chains grow at a much faster rate [2] and leaves nodes unable to identify the UTXO set of unspent outputs, making them more resource intensive. [1] https://electriccoin.co/blog/explaining-halo-2/ https://electriccoin.co/blog/explaining-halo-2/ [2] https://forum.grin.mw/t/scalability-vs-privacy-chart/8114 https://forum.grin.mw/t/scalability-vs-privacy-chart/8114

friend_and_foe 3y ago

I personally Love Mimblewimble. I'm a Monero user mostly, but I love Grin. John Tromp has a proposal for an interactive coin shuffling protocol for Grin [0] that would negate a lot of the privacy concerns, I personally haven't fully tried to understand it and it seems pretty cumbersome to me compared to Monero. I hope to see it in action so I can get an idea of how it compares. [0] https://forum.grin.mw/t/mimblewimble-coinswap-proposal/8322 https://forum.grin.mw/t/mimblewimble-coinswap-proposal/8322

phyro 3y ago
The protocol you linked is noninteractive. The user simply creates an onion-based transaction and sends it to the service. The service collects these and creates a single joint transaction which includes your output.