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[Source](https://pixabay.com/photos/stock-market-trading-stocks-6531146/)
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Hello great mind,
It is your friend @okere-blessing, this day, we will be learning about a topic of high ranking in the Cryptospace and guess what that is.
Not to delay you today, we will be learning on the mimblewimble protocol In the Cryptospace, there is a lot to unveil from it.
WHAT IS MIMBLEWIMBLE PROTOCOL
Mimblewimble can be explained to be a privacy oriented blockchain protocol that is built inorder to increase the confidentiality of blockchain transactions while simultaneously maintaining the integrity of the blockchain.
This great protocol was designed by an anonymous developer with the pseudonym Elvis Tom Jedusor in the month and year July 2016.
Several cryptographic technique is being used by mimblewimble protocol amongst which are coinjoin and confidential transaction, with the aim of achieving blockchain privacy without having to let go of scalability.
As we continue in this post, we will be discussing about the principles and features of mimblewimble protocol.
PRINCIPLES OF MIMBLEWIMBLE PROTOCOL
There are several principles of the mimblewimble protocol and here, we will be learning about some of them.
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CONFIDENTIAL TRANSACTION|
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The use of confidential transaction is one of the features of mimblewimble protocol.
Mimblewimble protocol makes use of confidential transaction as obscurity to transaction amount while giving room for verification.
The input and output in a mimblewimble transactions are often aggregated cryptographically, obscuring the amount being used in transactions.
This aggregation helps in preserving the sum of inputs which is equal to the sum of output, thus ensuring that there is no creation of a new coin out of the thin air.
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PERDESEN COMMITTMENT AND CUT-THROUGH:|
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Another interesting feature of mimblewimble protocol is the use of perdesen commitment.
Perdesen Committment are often used to guarantee the equality of the sum of inputs to the sum of output in a mimblewimble transactions, without having to reveal the real amount used in the transaction.
Without disclosure of sensitive information, perdesen commitment allows for the verification of transaction validity.
Also, inorder to reduce the size of the blockchain, the mimblewimble protocol employs a technique known as "Cut-through"
When there is an addition of new transaction into the blockchain, there is an elimination of redundant input and output data from previous transaction through aggregation.
This process plays a huge role in making the blockchain more scalable and light weight.
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TRANSACTION UNLINKABILITY AND SCALABILITY:|
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Another unique feature of mimblewimble protocol is it's transaction unlinkability.
Mimblewimble protocol are designed to be transactionally unlinked, which implies that no visible connection between receiver and sender address can be found.
This plays a big role in enhancing privacy and preventing external individuals from having details to transaction patterns of individuals.
Another interesting feature of mimblewimble protocol is that it aims to improve scalability of the blockchain.
Mimblewimble helps to improve scalability by reducing the size of the blockchain through aggregation and also eliminating unnecessary data.
And the nature of mimblewimble protocol makes it more efficient in terms of bandwidth requirements.
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IMPROVED FUNGIBILITY AND ATOMIC SWAP|
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Another unique feature of mimblewimble protocol is it's improved Fungibility nature.
Fungibility is understood to be the interchangeability of unit within a currency.
Fungibility is being enhanced by mimblewimble privacy features by ensuring that all coins are indistinguishable from eachother.
Since transaction history is not publicly visible and transaction and transactions amount are obscured, it becomes impossible for coins to be tainted by their past use, thereby enhancing its fungible nature.
Also mimblewimble is very compatible with technologies like lightning network and atomic swap, giving opportunity for an efficient and fast offchain transaction while preserving privacy.
CONCLUSION
Mimblewimble protocol is a groundbreaking protocol that places priorities on scalability and privacy.
Mimblewimble protocol helps to offer a solution to the scalability and privacy challenge faced by traditional blockchain system by making a leverage on cryptographic techniques such as Cut-through and confidential transaction.
Although in it's early stage, mimblewimble shows its great potential to enhance the way we interact with the blockchain Technology.
