MimbleWimbleCoin Airdrop Review – Privacy, Fungibility & Security


About MimbleWimbleCoin Airdrop

MimbleWimbleCoin Airdrop is a Grin soft fork based on the MimbleWimble protocol with a limited supply cap of 20 million coins. 10 million coins will take around 100 years to be POW mined. Most of the supply has been distributed to BTC holders in 2019.

With a provable supply cap of 20,000,000, MWC is a scarce pure proof of work Mimblewimble based coin that enables greater network scalability, privacy, and fungibility than legacy blockchain protocols. All transactions on the base layer use Greg Maxwell’s Coin Join with his Confidential Transactions and signature aggregation.

The MimbleWimbleCoin Airdrop network was launched in November 2019 and has functioned flawlessly with 100% uptime. The MWC Team considers the protocol ossified and currently sees no need for a future hard or soft fork unless a defensive action were required to protect the network.

Since discovery in 2016, Mimblewimble technology has rarely been discussed and largely ignored. For example, Andrew Poelstra’s 2016 presentation to SF Bitdevs, the topic’s most viewed video, had less than 18,000 views three years later when MWC mainnet launched.

First Step

Hold MWC coins in your MWC wallet before the block hits #448,000.

Second step

Go to the “HODL” section of the wallet and click on “Register” if you’re not already registered for the HODL program.

Third Step

A total pool of 2,293,780 MWC coins will be distributed equally to all eligible holders.

Fourth Step

The distribution will start at block #451,000 and must be claimed by block #471,000.

Fifth Step

For more information regarding the airdrop, see this post.

In the 2018 paper titled Aggregate Cash System: 

A Cryptographic Investigation of Mimblewimble, Fuchsbauer, et. al. concluded, “In this paper, we provide a provable-security analysis for Mimblewimble. We give a precise syntax and formal security definitions for an abstraction of Mimblewimble that we call an aggregate cash system. We then formally prove the security of Mimblewimble in this definitional framework. Our results imply in particular that two natural instantiations (with Pedersen commitments and Schnorr or BLS signatures) are provably secure against inflation and coin theft under standard assumptions.”

Distribution

MWC mainnet launched on November 11, 2019.
20,000,000 MWC will exist.
10,000,000 MWC will be Proof Of Work mined.
10,000,000 MWC were created in the genesis block and 9,765,000 MWC were distributed to: (1) the developers, (2) the Airdrop Program and (3) the HODL Program. 235,000 MWC remain to be distributed via the Airdrop Program.

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