Ambitious Mimblewimble projects are starting to make Ethereum look bad

Chris Dannen

By Chris Dannen


Characteristic of the most ambitious altcoin projects are technical roadmaps which look suspiciously like Bitcoin's, "only better." Mimblewimble, a protocol embodied in two projects called Grin and Beam, has announced its own "second layer" to rival Bitcoin's Lightning Network. Other networks like Ethereum claim to be working on similar scaling protocols, but unlike Lightning network itself, these non-Bitcoin efforts seem to have stalled. Will the Mibmlewimblers fare better? If so, it might be a result of Beam's implementation of new ideas, namely "scriptless scripts," which promise to reduce resource consumption. But the magic of scriptless scripts is owed to the use of Schnorr Signatures, which are capable of aggregating multiple signatures into one. Schnorr is also a hot topic in the Bitcoin community, and could be implemented there within 1-2 years. Few of cryptocurrency's most cutting-edge ideas cannot be incorporated into Bitcoin, a fact which continues to undermine the "multi-coin" world view.

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