Lord Voldemort Is Trying to Save Bitcoin

An anonymous cryptographer, who refers to himself as Harry Potter’s mortal enemy Voldemort, may have come up with a solution to address two of the biggest issues holding bitcoin back—and the community is beginning to take it seriously.

Earlier this month, bitcoin once again made headlines when the Bitfinex exchange announced that it had been hacked and that almost 120,000 bitcoins (worth $70 million at today’s price) had been stolen. At the same time as this news was breaking, someone was anonymously posting a white paper online which described a new cryptographic protocol with the potential to revolutionize the way bitcoin works, making it more scalable and private.

The proposal was called Mimblewimble.

“I call my creation Mimblewimble because it is used to prevent the blockchain from talking about all user’s information,” the author states in the white paper. The title references a spell from J K Rowling’s books that “binds the target’s tongue to keep him or her from talking about a specific subject,” according to the Harry Potter wiki.

One of the most enduring stories surrounding bitcoin is the mystery surrounding its anonymous creator (or creators), known only by the pseudonym Satoshi Nakamoto—and the author of

Read more ... source: TheBitcoinNews