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Litecoin [LTC]’s Charlie Lee confirms talks with privacy coin Beam to implement MimbleWimble

Litecoin [ltc]’s charlie lee confirms talks with privacy coin beam to implement mimblewimble

Litecoin [LTC]’s Charlie Lee confirms talks with privacy coin Beam to implement MimbleWimble

Litecoin [LTC]’s pursuit of privacy and confidential transactions is surging ahead after Charlie Lee confirmed being in talks with Beam for the implementation of MimbleWimble. This marks a significant development in what could possibly be a game-changer for the coin.

Lee, the creator of Litecoin, a silver coin to ₿itcoin’s gold has been assertively moving ahead to provide the coin with fungibility and privacy solutions. Charlie Lee’s announcement of putting scalability behind to pursue privacy and the implementation of Confidential Transactions in Litecoin was met with a lot of fanfare. He later announced that the LTC development team was exploring options such as bulletproof MimbleWimble, which was equally well received.

Litecoin [ltc]’s charlie lee confirms talks with privacy coin beam to implement mimblewimble

Source: Twitter

Beam is the first cryptocurrency project to be built on the MimbleWimble protocol and offers a range of privacy solutions that are alien to other coins in the market. It also claims to be more private than other privacy coins such as Monero and Zcash while offering to be the best ‘storage of value’ option in the cryptocurrency market. The CEO of Beam had, in fact, on its launch on the 10th anniversary of ₿itcoin, highlighted the principle that drove the development of Beam.

“Sovereignty over one’s own information is a basic human right, and applies to all aspects of life, and especially to financial transactions.”

The MimbleWimble protocol allows the user to encrypt all data with respect to a transaction made on the cryptocurrency network. This is done by the use of blinding factors, that allow an extra layer of security to all transactions. Additionally, MimbleWimble also uses CoinJoin, a mechanism that combines multiple payment info to form a single chain of the transaction, thus hiding any individual transaction info in a cryptographic haze.

Despite confirmation of talks with Beam, Litecoin will not be reiterating a similar implementation of the protocol as the privacy coin. Lee has already dismissed any question of LTC implementing the Switch or ElGamal commitments fundamental to Beam as LTC will be implementing bulletproof MimbleWimble with extension blocks instead.

However, as the tweet suggests, he has also been appreciative of Beam’s own efforts as he feels the Switch Commitments with ElGamal are a safeguard against the risk quantum computing poses to the soundness of Confidential Transactions.

The post Litecoin [LTC]’s Charlie Lee confirms talks with privacy coin Beam to implement MimbleWimble appeared first on AMBCrypto.

Published at Thu, 07 Feb 2019 07:03:46 +0000

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The EU Is One Big Fatal Flaw

zerohedge.com / by Tyler Durden / Apr 1, 2017 6:00 PM

Authored by Raul Ilargi Meijer via The Automatic Earth blog,

The true face of the EU is presently on display in Greece, not in Germany or Holland or France. Brussels must first fix what’s going wrong in Athens and the Aegean, and there’s a lot going wrong, before it can move on towards the future, indeed towards any future at all. It has a very tough job in Italy as well, which it’s trying hard to ignore.

You can’t say ‘things are fine in Germany’ or ‘Finland is recovering’ and leave it at that. Not when you’re part of a political -and to a large degree also economic- Union, let alone when you’re preaching tightening -and deepening- that Union. Not when parts of that Union are not only doing much worse than others, but are being thoroughly gutted. Then again, they’re being gutted by the very Union itself, so Brussels -and Berlin, The Hague, Paris- can’t very well feign surprise or deny responsibility.

Of course the European continent needs a ‘body’, some form of organization -and it needs it badly- that will allow its nations to cooperate, in 1000 different ways and fields, but the EU is not it. The EU is toxic. It is turning nations against each other as we speak. So much so that it’s crucial for these nations to leave the union and dismantle the entire operation before that happens, because there will be no opportunity left to do it once the toxicity takes over. The UK should count itself lucky for getting out while it did.

In its present setting, the EU has no future. And, more importantly, there is no mechanism available to change that setting. It should have been insisted on when the Union was founded, or in one of its various treaties after. This never happened, though, and that’s no coincidence, it was always about power. It’s therefore very hard -if not impossible- to see how the EU could be altered in such a way that it has a chance of survival.

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The post The EU Is One Big Fatal Flaw appeared first on Silver For The People.

CVE-2018-17144 Full Disclosure

CVE-2018-17144 Full Disclosure CVE-2018-17144, a fix for which was released on September 18th in bitcoin Core versions 0.16.3 and 0.17.0rc4, includes both a Denial of Service component and a critical inflation vulnerability. It was originally […]

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