On February 12, the last BeamCoin (BEAM) coin, as Privacy Coin, announced plans to incorporate the Mimblewimble Protocol into Bitcoin's Lightning Network.
Combined with Lightning Network
The main goal of the Beam for Lightning Network is to use the solution to transfer money outside the chain more quickly. And is also an update to Altcoin. It can be used commercially and has faster transaction confirmation.
While BEAM's Whitepaper states that transactions via BEAM are three times faster than Bitcoin.
Outside of the debt, BEAM has not announced when they will start using Lightning Network. However, on February 7, BEAM posted on their Medium platform that Litecoin or Crypto Coins. Early morning discussions with BEAM for help in installing the Mimblewimble Protocol as an alternative to Litecoin in order to be a Privacy Coin.
In addition, Mr. Dorsey, CEO of Twitter or Square, which is a payment app, uses Lightning to increase payment efficiency.
Lightning Network is designed to solve the problem of Scaling of Bitcoin. Lightning Network is Off-chain outside the network of Bitcoin. Its chain allows users to trade via P2P (Peer to Peer) without having to go through an account. classify And when done, the data will be updated manually on the ledger And with this process, the network capacity has increased dramatically. Lightning Network makes the transaction faster than the main network.
CT, Mimblewimble, Extension Blocks
A confidential transaction or CT was created by Gregory Maxwell, who developed the first version of Bitcoin and is a unique way to make the details of the transaction complex, including the number of transactions and the address of the recipient of Monero (XMR) using CT. And the idea was taken to develop the Mimblewimble Protocol or privacy protocol.
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