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HomeLitecoinThe Litecoin MimbleWimble proposal is about Fungibility not Privateness.

The Litecoin MimbleWimble proposal is about Fungibility not Privateness.

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A current article entitled “Breaking MimbleWimble’s privateness mannequin” printed by Ivan Bogatyy has been inflicting a stir because the writer claims of a “new assault” that ‘traces 96% of all (MimbleWimble) sender and recipient addresses in actual time’. The assault prices $60/week of AWS (Amazon Internet Companies) one thing that leads Bogatyy to conculde that:

“Mimblewimble’s privateness is basically flawed.” (and) “ought to not be thought of a viable various to Zcash or Monero with regards to privateness.”

The issue is that no MimbleWimble (MW) developer has ever claimed the protocol was personal or that it was on par with an asset comparable to Monero on this regard, as such Bogatyy’s article engages in a false equivalence fallacy. The issues raised had been already recognized to these engaged on the undertaking. David Burkett, a member of the Grin++ staff who helps lead the Litecoin MW implementation, weighed in by way of twitter, to deal with the state of affairs:

“Actually superior write-up, however none of that is “information”. I’m truly shocked solely 96% was traceable. There are a selection of how to assist break linkability in Grin, however none are applied and launched but. As I all the time say, don’t use Grin when you require privateness — it’s not there but.”

A counter article from Daniel Lehnberg, a Grin developer, was later printed to offer additional clarification and dispel the factual inaccuracies and sensationalised claims:

“This isn’t new to anybody on the Grin staff or anybody who has studied the Mimblewimble protocol. Grin acknowledged the power to hyperlink outputs on chain in a Privateness Primer printed on its public wiki in November 2018, earlier than mainnet was launched. This downside encompasses Ian Mier’s “Flashlight assault”, which we’ve got listed as considered one of our Open Analysis Issues.”
“TL;DR: Mimblewimble privateness will not be “basically flawed”. The described “assault” on Mimblewimble/Grin is a misunderstanding of a recognized limitation. Whereas the article offers some fascinating numbers on community evaluation, the outcomes offered don’t truly represent an assault, nor do they again up the sensationalized claims made.”

Litecoin creator Charlie Lee adopted in a tweet of his personal stating:

“This limitation of MimbleWimble protocol is well-known. MW is mainly Confidential Transactions with scaling advantages and slight unlinkability. To get a lot better privateness, you possibly can nonetheless use CoinJoin earlier than broadcasting and CJ works very well with MW resulting from CT and aggregation.”

The primary attraction of MW and the explanation the Litecoin Core staff need to implement assist for it, has primarily been its means to offer community fungibility, future scalability and ‘better’ (not full) privateness.

Fungibility is derived from the inclusion of confidential transactions (CT) whereby the worth despatched over the community is hidden but verifiable. This implies when interacting with different folks on the community they wont have the ability to look again and understand how a lot Litecoin you personal. Scalability then again comes from the massively pruneable nature of the protocol and the truth that, when paired with extension blocks, the Litecoin community can have a blocksize improve with out the necessity for a contentious exhausting fork.

MW provides solely pseudo-privacy and that is what Bogatyy’s article discusses. By snapshotting transactions earlier than they bear the coin becoming a member of course of it’s nonetheless attainable to trace community participant interactions. Customers can privately coinjoin utilizing a trusted social gathering earlier than broadcasting, nevertheless, this introduces a 3rd social gathering who could then later promote that information on, so it’s removed from a super answer.

Coinjoins mixed with confidential transactions nevertheless, does present an ample stage of privateness over the present state of affairs. The common consumer doesn’t have the time, assets or know easy methods to setup such a monitoring system. This doesn’t imply privateness is to not be pursued, for one, MW would not truly use addresses, as an alternative worth is transferred by including one-time outputs to a transaction. In flip offering better privateness because it turns into not possible to re-use addresses.

One good take away is that it’s unlikely incumbent exchanges will delist Litecoin resulting from regulatory problem folks have raised and hopefully extra folks will start to know the character of MW. Full fungability continues to be a objective to goal for going ahead and is somthing Lee awknowledges stating:

“There’s quite a lot of work to be completed. Privateness and fungability might be an ongoing battle.”



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