Andrew Poelstra of Blockstream has presented a new Bitcoin network scalability solution dubbed Mimblewimble on the first day of Scaling Bitcoin conference in Milan.
Authored by “Tom Elvis Jedusor” (Voldemort’s name in the French versions of the book), the Harry Potter references in the paper don’t stop there. The proposal itself, posted to chat channels in August 2016, is named “Mimblewimble»” after a tongue-tying curse meant to render an opponent silent.
Mimblewimble offers a radical reduction of bitcoin protocol to enhance confidentiality and malleability of transactions along with providing more options for the network’s scalability as compared to the existing architecture.
«I’m here to present Mimblewimble. It’s not my idea, it belongs to the Dark Lord,” — said Andrew Poelstra. “Mimblewimble is a design for a Blockchain, it could be implemented into Bitcoin as a softfork or