Demonstrating Proof of Payment on MWC Testnet
I wanted to write a quick article to mention a video that I published earlier today: MWC Testnet Payment Proof.
This video demonstrates proof of payment on the MWC testnet. One of the issues that Grin has had is that since there are no public addresses or amounts, it is not possible to just look at a block explorer and verify a payment. There is, however, a way to prove payment, but it involves providing a proof. This functionality will be built into the GUI wallet we provide. BISQ has had problems with Grin transactions being disputed and making this functionality standard in the MWC wallet should alleviate the problem in MWC.
Addressing Verification Issues
One of the challenges with Grin and Mimblewimble-based coins is the inherent privacy features, which, while enhancing security and confidentiality, make simple payment verifications more complex. Without public addresses or visible transaction amounts, traditional methods of verifying payments through block explorers are ineffective. This has led to issues, especially in platforms like BISQ, where disputes have arisen due to the lack of transparent verification methods.
Our Solution
To solve this, we are incorporating a proof of payment feature directly into our GUI wallet. This proof of payment feature allows users to generate a proof that can be shared to verify the transaction. By standardizing this functionality, we aim to reduce disputes and enhance trust in transactions involving MWC. The wallet we used is a fork of the Wallet713 wall for Grin and will be the backend we use for our GUI wallet, which is an Electrum fork.
User-Friendly Wallet Interface
In addition to providing robust proof of payment functionality, we are focused on ensuring that our wallet is user-friendly. Command-line operations can be intimidating and cumbersome for many users. Therefore, our GUI wallet aims to provide an intuitive interface that simplifies these processes. By forking Electrum, we leverage its proven, user-friendly design while integrating the unique privacy and verification features of Mimblewimble and MWC.
Conclusion
We believe that these improvements will not only enhance the usability of MWC but also increase its adoption by addressing one of the critical pain points of Mimblewimble-based transactions. Stay tuned for more updates as we continue to develop and refine our wallet to provide the best possible experience for our users.
Feel free to check out the video linked above to see a demonstration of the proof of payment on the MWC testnet and stay tuned for more updates as we approach the launch.
