Facts about MWC
MWC, Mimble Wimble Coin is a rare, secure, scalable, private and untraceable digital currency that uses open source software to implement Mimble Wimble and is freely available to everyone. MWC is designed to be highly complementary to Bitcoin, and that relationship will only be enhanced by atomic swaps. It has a clean and minimal implementation, with the goal of remaining as such. It follows the Mimble Wimble Protocol, which provides hidden amounts and benefits to scaling. There is a fixed block reward with reduced dilution over time.
CoinJoined with confidential transactions and aggregation of signatures are all transactions on a base layer. As a result, there are no blocks of addresses, transaction amounts or intermediate inputs and outputs and all transactions are indistinguishable from each other. All inputs and outputs are like random blockchain information, unless you are a transaction participant. Nevertheless, MWC is the technologically superior ghost money.
Confidential transactions use encryption in such a way that the public blockchain does not reflect the sum of coins that are sent or received in a transaction. CoinJoin suggests that multiple network transactions are combined into one transaction to prevent blockchain forensics from identifying the actual sender and recipient of the transaction.
Features of MWC
The MWC uses the Cuckoo Cycle PoW Algorithm, a mine-friendly algorithm, that focuses more on the use of memory. This means that instead of the raw processor or GPU speed, the solution time is bound to the memory bandwidth. Unlike other PoW algorithms, the capability of your hardware to drain a lot of heat-producing power needs to be maximized. As with most other GPU, CPU or ASIC-bound PoW algorithms, a memory-bound algorithm like the Cuckoo Cycle needs much less power.
MWC has a wallet that includes Atomic Swaps for the MWC/BTC and MWC/BCH exchange pairs. Decentralized, stable, private and user-friendly nuclear swaps allow users to move wealth privately without relying on a third party. At the same time, all power is transferred from Exchanges to end users themselves through the Swap process. There are no connections between blockchains, no traces or the amount of MWC involved to determine which asset was swapped.
Advantages and Benefits of MWC
Due to the shift in the MWC emission rate, its stock-to-flow ratio is nearly 68, which is higher than Bitcoin’s stock-to-flow ratio of 52. Perhaps more scarce than Bitcoin, MWC will continue to do so. MWC has all the characteristics of good cash.
Since December, the market cap for MWC has increased by 6.100 per cent. Currently, the MWC market cap is approximately $125 million and has been consolidated over $100 million over the last two months. By market cap, behind Monero and Zcash, and the 13th biggest proof-of-work coin behind Bitcoin Gold and Decred, MWC is actually the 3rd biggest privacy coin.
Creation of MWC
In February 2019, MWC was created and launched its MainNet as a Grin fork in November 2019 to create a scarce coin based on MimbleWimble by adding a 20 million coin supply cap.
Distribution of MWC
The successful airdrop of Mimblewimble Coin with Bitcoin holders is the first goal. Only 20 million MWCs will exist, 10 million of which will take about 100 years for POW mining to take place.
Things to expect from MWC in the near future
Mobile wallet, Mobile node and the implementation of non-interactive transactions.
Security of MWC
Due to the nature of the MWC, given its limited supply, the ability to secure coins properly will be important. In the MWC wallet, MWC introduced a new function called “submit” It submits a transaction completed on an offline node to the network. Each transaction is cryptographically secured using the power of a distributed peer-to-peer consensus network. When created, each account has a 24 word mnemonic seed shown and can be written down to back up the account. To ensure that they are useless when stolen, the account files are encrypted with a passphrase.
Reason for trading on BiKi Exchange
BiKi accepts deposits only from cryptocurrencies (BTC and USDT) and does not charge a deposit fee.
For each cryptocurrency coin, the BiKi platform uses a flat charge of 0.15 percent, which is the same. This is very competitive on the market and below the level of industry for similar cryptocurrency trading exchanges.
BiKi platform will be listing MimbleWimbleCoin (MWC) and opening trading for MWC/BTC with the details as follows:
1. Opening time for deposit: 2/24, 20:00 (GMT +8)
2. Opening time for withdrawal: 2/24, 20:00 (GMT +8)
3. Opening time for trading: 2/24, 20:00 (GMT +8)
Announcement link: https://www.biki.cc/en_US/noticeInfo/4301
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