MimbleWimbleCoin (MWC) is a cryptocurrency native to the Mimblewimble protocol. It is a pure proof-of-work-based crypto that enables greater network scalability, privacy, and fungibility. MWC has a provable supply cap of 20,000,000 units, with 10,000,000 units created in the genesis block and another 10,000,000 units to be mined using proof of work. The Mimblewimble protocol provides a 3x scalability improvement over legacy blockchain technology and ensures privacy through features like CoinJoin, Confidential Transactions, and signature aggregation.
MimbleWimbleCoin (MWC) is a cryptocurrency that utilizes the Mimblewimble protocol to enhance privacy, scalability, and fungibility. Here's how it is used:
Mining and Consensus- Proof of Work (PoW) Consensus: MWC is powered by a PoW consensus algorithm, where miners compete to validate transactions and earn rewards.
- Mining Process: Miners solve complex mathematical puzzles to validate transactions and update the blockchain. The block time is 60 seconds, and the block reward is 0.6 MWC.
- CoinJoin and Confidential Transactions: All transactions on the base layer are CoinJoined with Confidential Transactions and signature aggregation, making them indistinguishable from one another. There are no addresses, transaction amounts, or intermediary inputs and outputs in blocks.
- Atomic Swaps: Transactions can be merged without being broadcast to the network, enhancing privacy. For example, if Alice sends MWC to Bob and then Bob sends MWC to Carol, Bob's transaction is not seen on the blockchain.
- GUI Wallet: A fully functional GUI wallet is available for users, which includes features like atomic swaps and secure offline cold storage.
- Mobile Wallet: A mobile wallet is being developed to expand accessibility.
- Exchanges: MWC is traded on various exchanges, including Hotbit, TradeOgre, Bitforex, Tokok, Whitebit, Biki, and Bithumb Global.
- Price: The current price of MWC is $2.913, with predictions of reaching $14.50 by 2028.
- HODL Programme: The protocol rewards MWC addresses with zero negative movements during a predetermined period, encouraging users to store their coins without movement for longer periods to generate more profit.
Overall, MWC is designed to provide a secure, private, and scalable cryptocurrency experience, leveraging the benefits of the Mimblewimble protocol.
To store MimbleWimbleCoin (MWC) tokens, you can use the official GUI Wallet provided by the MWC development team. This wallet is available for both desktop and mobile devices, ensuring you can manage your MWC tokens securely and conveniently. Additionally, the team has developed a method for secure offline cold storage of MWC, which is ideal for long-term storage and added security.
To buy MimbleWimbleCoin (MWC) tokens, follow these steps:
Choose an Exchange: Select a reliable cryptocurrency exchange that supports MWC trading. You can find a list of exchanges where you can buy, sell, and trade MWC on websites like Coinlore.
Create an Account: Register on the chosen exchange by providing the required personal and payment information. Verify your account as per the exchange's requirements.
Deposit Funds: Deposit the desired amount of funds into your exchange account using a supported payment method such as Visa, Mastercard, or other cryptocurrencies like Bitcoin or Tether.
Navigate to the Buy Section: Go to the Buy or Trade section on the exchange platform. The exact location of this section may vary depending on the exchange.
Select MWC: Choose MimbleWimbleCoin (MWC) as the cryptocurrency you want to buy.
Set the Amount: Enter the amount of MWC you want to purchase or the amount of your deposit you want to use for the purchase.
Confirm the Purchase: Review the details and confirm the purchase. The MWC tokens will be credited to your exchange account.
Store Your Tokens: You can store your MWC tokens in the exchange's wallet or transfer them to a personal wallet for added security.
For more detailed guides, you can refer to resources like BitScreener or Gate.io.
