What is MimbleWimbleCoin? MimbleWimbleCoin (MWC) is a MimbleWimble-based cryptocurrency powered by pure Proof-of-Work. cryptocoin.com In this article, we focus on the MimbleWimbleCoin project. In addition, we answer the questions that investors wonder, such as what is MimbleWimble, what is MimbleWimbleCoin, what does MWC do and how to get it. Let’s take a look at this cryptocurrency project, which offers a high level of privacy and scalability.
What is MimbleWimble?
Before we move on to MimbleWimbleCoin, we need to examine the MimbleWimble network. Named after the tongue-binding magic in Harry Potter, MimbleWimble is a privacy and scalability protocol distributed on the Litecoin network. The main purpose of MimbleWimble is to provide transaction confidentiality. Blockchains like Litecoin are pretty transparent by default, as each transaction discloses the sender and recipient addresses, as well as the amount sent. This is the basis of long-standing privacy concerns.
What is MimbleWimbleCoin?
MikleWimbleCoin (MWC) is a platform based on the MimbleWimble protocol. Accordingly, the platform serves its users with high scalability, security and transaction confidentiality. With a maximum supply capped at 20 million units, MWC provides better network scalability than legacy Blockchains. Launched in November 2019, the asset keeps transaction information private. This is a feature not included in Blockchain networks like Bitcoin. Traceability of transactions has led to privacy concerns of users.
What does MWC do?
MimbleWimbleCoin (MWC) is a cryptocurrency that uses the MimbleWimble protocol for enhanced privacy and scalability. The main features of the protocol are confidential transactions and elliptic curve cryptography. MWC can be extracted with the Proof-of-Work mechanism using the Groestl algorithm. In other words, it is a cryptocurrency that can be mined. In addition, MWC has an important place as the first digital asset to implement the MimbleWimble protocol. MimbleWimbleCoin offers a number of advantages over other digital currencies. Accordingly, it operates as an open-source, decentralized cryptocurrency.
For starters, presence is built on the basis of privacy and anonymity. Transactions on the MimbleWimbleCoin network are designed to be difficult to trace and ensure users remain anonymous. Additionally, MimbleWimbleCoin offers scalability and efficiency. Because it is not based on a Blockchain, the cryptocurrency can process a large number of transactions without paying significant fees. Finally, the altcoin is designed to be resistant to quantum computing attacks.
What is MimbleWimbleCoin? How to get MWC?
MimbleWimbleCoin is currently only traded on the TradeOgre exchange. Interested investors should access this exchange first. Then they have to become a member of the exchange and complete the KYC processes. After doing this, they should deposit an asset suitable for MWC trading pairs through their account. Thus, they can complete the transaction by placing a purchase order for the cryptocurrency on the relevant parity.
