Skip to content

Small step of Mimblewimble: Grin raises funds for a new development

The most active software implementation of the highly anticipated mimblewimble technology launches its first fundraising campaign.

Mimblewimble has gained notoriety for improving the privacy and extensibility of blockchains, but also for Harry Potter references that have long been hiding its developers in the secret (the name of the protocol comes from a curse in the books). ]

Continuing this trend of making new design decisions, software developers, Grin, will not launch an initial coin offer (ICO), but will request donations in existing cryptocourses. will be done.

According to the campaign announcement, Grin is requesting $ 30,000 in bitcoin to support a year of full-time work for one of the project's most active contributors: developer Michael Cordner, known as "Yeastplume "in the Grin community.

Lead developer Grin Igno Peverell told Cordner in the announcement:

"[He] did an outstanding job on the project for over six months now, and did more than one day job and one family, he was the first to bring in big chunks of features, and his continued help was invaluable. "

Bitcoin technology company BlockCypher is among the first to donate to the effort.

With this, fundraising also seems to be a sign of a mature community, a person interested in devoting more time and effort to furthering his ideas beyond the theory .

For example, mimblewimble developers are gearing up for the launch of a second testnet next spring, which will add features such as aggregated signatures and recently unveiled privacy technology, Bulletproofs, to its blockchain.

Initially, the MimbleWimble engineers were getting bitcoin technology one day as a side chain, but as they waited for the technology to ripen, the team decided instead to launch their own blockchain, with an upcoming crypto -change.

The developers tested the project on the first testnet since November and used a series of obstacles – including the fact that the blockchain "splits in many ways" – as a learning experience before the launch of mainnet next year.

In a status update describing progress, Peverell noted:

"Testnet1 was bumpy, but extremely useful."

Image of magic wand via Shutterstock

Leader in blockchain information, CoinDesk is an independent media company that strives to achieve the highest journalistic standards and adheres to a strict set of editorial policies. Do you have any breaking news or a tip to send to our journalists? Contact us at [email protected]

See also  Ancora: Should you invest in a limited edition Bitcoin Fountain Pen?