The Dark Side of Privacy: Unpacking Mimblewimble
There’s a saying that what happens in Vegas, stays in Vegas. Unfortunately for Mimblewimble, the same can’t be said about its transactions. In a twist that has left enthusiasts scratching their heads, a blockchain research expert from Dragonfly has claimed that Mimblewimble’s famed privacy might not be all that private. In fact, it’s more like wearing a transparent raincoat in a downpour.
Breaking News: Grin’s Privacy Facade
Enter Ivan Bogatyy, the intrepid researcher who turned detective. His recent Medium post sent ripples through the crypto community after he claimed to have uncovered the identities behind a staggering 96% of Grin (GRIN) transactions. All this with just a budget of $60 per week on Amazon Web Services. A veritable heist for the digital age!
What’s the Problem?
Bogatyy argues that the issues are baked into the cake of the Mimblewimble protocol itself and that this isn’t something fixable with a quick patch. I mean, every system has its weaknesses, but this one seems like a gaping hole you could drive a truck through.
Goodbye Alternatives: A Shift in DeFi
Bogatyy has declared that Mimblewimble is no longer a viable alternative to heavyweights like Zcash or Monero when it comes to providing privacy. Perhaps it should sit in the corner with its
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