In other words, the question is — how efficient, secure and reliable is MimbleWimble?

Basically, this protocol is not only good for TARUSH but for all ventures aiming to roll out a crypto token and offer promises related to security, privacy, and scalability.

Confidential transactions

If you have been actively involved in the crypto niche for about a year, you must be aware that the transactions, particularly the ones conducted on the BTC network, are not ‘that’ confidential. Of course, they are much more private and secure as compared with the traditional banking system. But when we talk about the crypto industry, they are far less confidential from what we perceive.

When we talk about confidentiality in a financial activity, we are basically referring to the identities of sender and receiver together with the amount being transferred through the network. All of this information is crucial to verify, validate and conduct a transaction. However, if you look at it, only the senders and receivers are required to know these details.

In traditional blockchain networks, this confidential information is sent to multiple nodes on the network for verification and later on broadcasted on a public ledger. Therefore, everyone can see these details.

TARUSH goes against it and ensures that none other than the concerned parties can see this information. In order to do that, we use the ‘blinding factor’ approach as offered by MimbleWimble. It allows us to encrypt the transaction details from any external parties that are irrelevant to the transaction.

CoinJoin to merge transactions

Scalability has become a major problem for crypto industry in recent months. There are several factors leading to the current situation, but let’s talk about the most important one addressed by MimbleWimble.

There are various technologies involved to complete a transaction and it’s prerequisites. In our network, confidential transactions and CoinJoin lay the foundation. In this section, we will focus on the later mentioned.

It allows TARUSH to remove intermediaries from the transaction. For instance, if Adam sends 1 TAS token to William, who then sends it to Chris, there is no need to record the details of the intermediary (i.e. William). If we just store the transaction details related to the previous owner and current owner, while emitting the intermediary, the size of our blockchain will reduce significantly. That’s the transaction level procedure. But if we talk about it on the network level, CoinJoin collects all the transactions and removes their intermediaries to optimize the size of the blockchain.

A typical MimbleWimble block contains the following information only:

Input list Output list Signature data required to validate the transaction(s)

This optimization has a direct impact on privacy and scalability as you can see that there are no private details mentioned and the block size is also diminished.

Please note that a typical BTC block is about 1MB in size and holds information that is rarely important to record and in some cases, creates a privacy issue as well for the users. Contrary to this, it is pretty understandable as to why a platform with a shorter chain and smaller block size offers an optimal solution.

The BTC network holds tens of GBs of data required to validate a transaction and this is one of the reasons as to why TPS rate is lower. MimbleWimble opts for a fairly straightforward approach and in order to verify a transaction, it calculates whether the sum of inputs is equal to the sum of outputs on the network. If that’s a match, we are good to go.

Dandelion to offer anonymity

This protocol is particularly used by the tokens aiming to achieve extensive security, anonymity, and privacy. The very concept is also implemented in MimbleWimble, hence allowing TARUSH to receive great benefits.

Basically, it follows two steps before a transaction is recorded on public ledger:

Stem Fluff

If you know about the dandelion flower, you are halfway there. But let’s just explain it from crypto’s perspective.

The first step is designed to halt or at least reduce the possibility of tracing the IP address of the sender. Instead of a single node broadcasting the transaction notification all across the network, the protocol forces one of the nodes to broadcast the transaction to a connected peer and the cycle continues until the current broadcast receiver is far enough from the sender. Now the current node is responsible for broadcasting the message across the network.

This is where the fluff stage comes into play. As soon as the last receiver of the stem phase transmits the broadcast to all connected peers through the diffusion method, the network quickly propagates the transaction confirmation to the majority of the nodes, hence reaching a consensus.

If you look at it carefully, the first step brings anonymity by ensuring that the message broadcaster is far enough from the sender and hence, significant computational power is required to trace back the sender.

What’s the future?

Both TARUSH and MimbleWimble are budding initiatives and are continuously in development, striving to be robust with every passing day. It is also very important to realize that two of the biggest privacy-claiming crypto ventures, ZCash and Monero are unable to satisfy their customers. The sheer level of confidentiality and anonymity by both of the ventures and their infrastructures cannot be denied, however, both of them create bulky transaction data which diminishes scalability and increases the time required to verify a transaction before creating a block.

MimbleWimble has solved a major proportion of security and privacy-related issues effectively, particularly the ones mentioned above. But since it happens to be in the development phase, we can expect that it will continue to solve the problems and be more robust.

What’s even more considerable is that the protocol can also be soft forked with Bitcoin and act as a side chain. Hence, increasing collaboration within the community and nurturing a supportive approach, rather than stealing the customers.

It should also be noted that several crypto influencers have already started talking about MimbleWimble on their forums and the audience is also appreciating the latest protocol.