A New Journey with MimbleWimble

In these months, I have been thinking about what’s next to do with MimbleWimble and where’s the final goal, the true faith, the ideal, or whatever we call it.

In my view, Grin is definitely one of the most vigorous attacks to a clear target: better money, or in Satoshi Nakamoto words: “purely peer-to-peer version of electronic cash”, with excellent improvements on privacy and scalability. Grin is still young, but has the full energy of growing, with an extremely bright future.

One day, when jumping out of the MimbleWimble’s privacy world in a dream, a thought came out in me: How about using MimbleWimble for the other world? which has not much strict privacy protection, either deliberately or unintentionally. Does the MimbleWimble tongue-tying curse still have the magic power in this case?

Moreover, an old question, which always wander around in my head for years, is what the common people’s daily payments look like? when or how they can/would use these crypto world “money”?

All these, plus some other trivial ideas, drive me to my new journey: Gotts, which will be a blockchain for non-collateralized stable-coins, a MimbleWimble blockchain but with explicit amount.

Here it is: https://github.com/gottstech/gotts

Many characteristics of Gotts are still undefined but the following constitutes a first set of choices:

  • Decentralized non-collateralized stable-coins, with perfect stability, as Gotts on-chain assets.
  • Transaction as immediate conversion between different stable-coins assets.
  • Follow MimbleWimble protocol, but with explicit amount transaction.
  • Support both interactive and non-interactive transaction.
  • Address and transaction proof.
  • 10x transaction throughput comparing to Grin.
  • Proof of Work.
  • Fixed block reward over time with a decreasing dilution.

For detail, please read the Introduction.

The Gotts project is definitely a fresh infant under development, nothing completed yet and only a draft Introduction document there at this moment. This will be a long journey to go, any contributions are welcome. Please feel free to join me if you’re interested on it.

BTW, Gotts absolutely is a fork from Grin codebase, starting from the Grin master branch of today, if that’s the 1st question:-). All the related code taken with thanks and respect, with license details in all derived source files.

And regarding myself, I will continue my contributions in Grin project, still working as a part time developer, same as before. But of course, my main time will focus on Gotts project in these near months, or near years, I don’t know exact. So, to be fair, I would prefer to resign from Grin Core team and Grin Council, since those Grin’s important decision making need much time, spirit and better to focus. Sorry about that, but please don’t worry, I’m always here, just like any other enthusiastic member in this community, to provide any help I can for Grin growing.

Actually, some of the ideas in Gotts should also be valuable for Grin, which can be promoted as Grin’s improvement proposals in the future, after they’re completed and tested in Gotts, and the code sharing will be much easier since Gotts is a fork from Grin.

Ok, that’s all. Thanks for reading this post, and Happy Moon Festival :blush: :crescent_moon:

6 Likes

When mainnet? Is it a hardfork with airdrop for grin holders?

Sounds a lot like http://woke.mw, I like it.

How will oracles/pricing work?

Will supply increase and decrease to influence price?

Will the assets be further developed example of confidential assets as proposed by Poelstra, or some other technique?

Looking forward to learning more and seeing atomic swaps between grin electronic cash and the gotts electronic fiat.