This article describes the Minglejingle (MJ) protocol: a redesign of Mimblewimble (MW) for non-interactive transactions. It preserves the security and privacy properties, supports payment proofs, non-interactive coinjoin and secure pruning of spent outputs.
Blockchains are distributed ledgers that preserve the transaction history so that new network participants can, at any point in the future, verify these two security properties:
- Supply security: No counterfeit coins have been created.
- Ownership security: No coins have been moved without the authorization by the owner of the associated private keys.