We released patched wallet versions to mitigate the impact of the Inflation Bug after rewinding the Chain. Please Update as soon as possible!
Thanks to everyone’s dedication and quick actions, the rewind of the chain to block 694,858 has been a success! The new chain has reached the same hash rate as before, and is still increasing.
The rewind will take place at block 693,000 which was on March 13th. Any transactions before that block will be unaffected.
The initial MWC supply was created in the genesis block with 10,000,000 units and another 10,000,000 units will be mined using proof of work.
Slatepack transaction method have been added to all MWC wallets while keeping backward compatibility with current File, HTTP, MQS and TOR transaction method
The most recent MWC Desktop QT wallet V1.1 release includes Atomic Swaps for MWC/BTC and MWC/BCH trading pairs. Decentralized, secure, private and user-friendly, atomic swaps enable users to transfer wealth privately without relying on a third party.
The mission of the MWC developer team is to match and exceed every other good in the market with regard to the ten primary monetary characteristics in order to produce a good that is the superior qualitative money. Good money in the Information Age is (1) recognizable, (2) scarce, (3) censorship resistant, (4) durable & indestructible, (5) extensible, (6) salable, (7) portable, (8) fungible, (9) private and (10) divisible.
Andrew Poelstra's 2016 San Fran BitDevs presentation on Mimble Wimble sent shockwaves through the Bitcoin developer community. Mimble Wimble provides an approximate 3x scalability improvement over legacy blockchain technology plus other benefits.
Three main properties of MWC transactions increase their privacy. All transactions on the base layer are CoinJoined with Confidential Transactions and signature aggregation. Consequently, there are no addresses, transaction amounts or intermediary inputs and outputs in blocks and all transactions are indistinguishable from one another. Unless you are a transaction participant then all inputs and outputs look like random pieces of data on the blockchain.
MWC transactions and block format transactions can be merged when an output is directly spent by the input of another and this can happen without being broadcast to the network. It is as if when Alice sends MWC to Bob and then Bob sends MWC to Carol then Bob was never involved and his transaction is actually never seen on the blockchain. All these features and yet the whole blockchain can be stored, downloaded and fully verified in just a few gigabytes or less.
The MWC development team seeks to innovate and bring out all of the MimbleWimble protocol benefits. The team has already created a fully functional GUI wallet, developed a method for secure offline cold storage of MWC, implemented MWC/BTC atomic swaps and is working on mobile wallet and NIT Non-interactive transactions.
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