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 cut-through 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.