MimbleWimble (MW) was a Bitcoin ($BTC) improvement proposal made to achieve transaction privacy. Nevertheless, it was rejected by the community as it required significant changes to the protocol.   Benefits of MW include:
- Better privacy for users by shielding transaction amounts and avoiding the use of publicly visible addresses
- It allows for smaller blocks and smaller blockchain data size which makes it easier for nodes to join the network
The shortcomings of MW include:
- There is a need to have some form of communication between the sender and receiver
- It is more difficult to create multi-party transactions
- The transactions are not fully private and can be deciphered given enough analysis
Other privacy maintaining techniques, particularly Zcash's ($ZEC) shielded transactions and Monero's ($XMR) Ring Confidential Transactions and stealth addresses achieve significantly better privacy.
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