Short answer? With the help of MimbleWimble.

Well, the name sounds funny and it rings bells for all the Harry Potter fans. However, its application in the crypto industry is far different from what’s building up in your mind.

In recent years, people have realized the sheer importance of blockchain and its advantages in pretty much all industries. Since every organization tends to have a different set of requirements, the dire need for having flexible and versatile blockchains cannot be ignored.

One of such protocols happens to be MimbleWimble, where the prime concern is to offer an even advanced level of privacy, scalability, and fungibility, as promised and advertised by Bitcoin in the first place.

Let us have a detailed look at as to how this robust and futuristic protocol gives Tarush a clear edge in the market.

Exploring MimbleWimble

It must be noted that despite being technologically advanced, this blockchain protocol is relatively newer than most of its significant others. It was released merely 2 years back, but there are a couple of crypto ventures already running in their optimal swing, so you do not have to worry about its acceptability in the market.

If you are following the crypto industry for the last one year, you must be aware that privacy concerns are emerging and several people have shifted to secure options. This is one of the primary things aimed by Tarush. Even though we share the ground with Bitcoin when it comes to the core concept, the technology and approach are different in order to make the transactions more private.

MimbleWimble gets rid of:

Wallet addresses (one of the primary elements for tracing back transactions)

Transaction value (e.g. 1BTC, 200USD, 20TAS, etc.)

Intermediaries (storing intermediary details in the blocks merely accounts to a lengthy chain which ultimately results in halted scalability)

Now, getting rid of intermediaries raises a serious concern — how would Tarush verify the transactions?

See, that is a rational question since our confidential transactions do not record intermediaries and in other blockchains, they are present in every transaction and the record is also maintained in order to ensure that the coins are not being double spent and the seller is the current owner of the token.

Well, we do that with the help of cryptographic commitment. In this approach, the seller or rather the sender is bound to prove the ownership of the amount being sent. But he doesn’t have to prove it to any 3rd person. Only the sender, receiver and Tarush platform needs to be taken into confidence.

Therefore, explaining technically, user A must verify the ownership before taking a hash of the transaction.

One of the core features of this protocol is that it makes use of confidential transaction to guarantee that the wallet addresses and amount being transferred are not recorded in the transaction.

First of all, it is quite difficult to hack this blockchain network. But in any case, even if a ‘street hacker’ succeeds in his sick aims, it is impossible to determine the people involved and the amount transferred in any given transaction, whatsoever. It is only possible if enormous computational power is put together. But what for? Why would ANYONE spend millions and billions just to know who was involved in a transaction? It’s not practical.

Moreover, it should also be noted that unlike BTC, MimbleWimble accumulates all inputs in an anonymity set, which is used to ensure that the transaction history and relationship with different users is difficult to trace as compared with other protocols.

Another interesting thing is that since the BTC community is already aware of the shortcomings of the network, particularly the ones related to privacy, they rolled out initiatives like Wasabi wallet and TumbleBit. However, since they have optimized merely the transaction level privacy, it’s not sufficient. Even some researchers were able to find the details regarding these ‘anonymous’ transactions.

Contrary to this, since Tarush implements MimbleWimble, it uses CoinJoin to ensure that instead of targeting transaction layer only, the venture implements necessary privacy features all across the platform. As a result, details related to intermediaries are eliminated. Another great advantage is that Tarush does not have to depend on any 3rd party to deliver the sheer level of privacy.

Bitcoin and most of the mainstream crypto tokens run on ‘gossip networks’. It implies that before recording any transaction in a block, it is broadcasted across the network. In some cases, this procedure may be exploited and the broadcast receivers might start recording transactions originating from a particular IP address. This could result in a major privacy issue!

In order to address the concern, particularly in the BTC network, a procedure called Dandelion was introduced. Tarush also implements such an approach and the aim is to hide or rather blur the IP address of transaction originators from broadcast recipients. That’s exactly what MimbleWimble does by breaking the process into two major steps:

Transaction details are sent (broadcasted) to just one node on the network, which then sends to another peer. This ‘hopping’ continues for a while until there are several individual peers in the chain. This is to ensure that the distance between last broadcast receiver and transaction originator is significant The transaction is broadcasted to entire network

Therefore, it is pretty evident that the extent of privacy-related features and processes implemented in Tarush is significant. Let it be the use of CoinJoin, Dandelion or other procedures that lead to privacy enhancements, it happens to be one of the latest and robust ventures to bring scalability and fungibility in the niche.