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Understand that MimbleWimble/Grin is privacy centric. Does it use Zero Knowledge Proofs to achieve the privacy goals?
In addition, what consensus algorithm is MimbleWimble/Grin using?
1
Understand that MimbleWimble/Grin is privacy centric. Does it use Zero Knowledge Proofs to achieve the privacy goals?
In addition, what consensus algorithm is MimbleWimble/Grin using?
1
Understand that MimbleWimble/Grin is privacy centric. Does it use Zero Knowledge Proofs to achieve the privacy goals?
Yes. Zero Knowledge Proofs (specifically, Range Proofs. Possibly Bulletproofs in the future) contribute to the privacy goals of Grin by giving validators the ability to verify that no inflation or deflation occured in a transaction without needing know the amounts transacted.
In addition, what consensus algorithm is MimbleWimble/Grin using?
Grin uses Nakamoto Consensus (Proof of Work) with the Cuckoo Cycle PoW system. You can find more information on that here: https://github.com/tromp/cuckoo
Thanks! Since Proof of Work is used, does it still scale? – Nathan Aw – 2018-04-09T00:33:03.227
@NathanAw no problem! Theoretically, Grin will scale better than bitcoin in terms of total size of the chain with much better privacy features. However, the Cuckoo Cycle itself contributes very little to this scalability. The major space savings come from the transaction "cut through" that can be performed, which is enabled by the Mimblewimble protocol. – Tony Rizko – 2018-04-09T00:52:17.730