The experimental blockchain network mimblewimble has launched on testnet.
Known for its creative use of Harry Potter references, the project was proposed last year by a cryptographer going by the pseudonym âTom Elvis Jedusorâ (French for Harry Potterâs archnemesis Lord Voldemort). And while such trappings may make it silly to some, developers are serious about the tech â arguing it improves scalability and privacy with cutting-edge cryptography.
Now, the team behind the effort is taking its first step toward putting the code to the test.
As explained by lead developer Ignotus Peverell, the testnet will offer a workshop of sorts for developers, complete with fake coins that allow them to detect (and correct) issues before launching a version with real money on the line.
The developer went on to explain that with the testnet (called testnet1) up and running, a few developers are mining and running the nodes that follow the cryptocurrencyâs unique rules.
He told CoinDesk:
âThereâs still a lot of work, but itâs a big milestone for us.â
Users can now operate a node and connect to the Grin network by âbuildingâ the software through a process described on GitHub. They can also send cryptocurrency tokens (also called âgrinâ) to other testnet users with the aim of helping plot out issues.
âWe hope to have as many bug reports as possible, so we can start fixing issues weâve overlooked,â Peverell said. âAt this point, one can still expect failures that would be a complete nightmare on a mainnet.â
In short, Peverell anticipates there will be many versions of the testnet.
âThis is our first testnet, so weâre testing everything that has been developed so far. That includes the peer-to-peer network, the core consensus rules, the cryptography required to run a mimblewimble chain, the wallet software,â Peverell added.
Later versions, he suggested, will include more advanced features such as so-called âscriptless scriptsâ that would add other functionalities, such as Lightning Networks, to Grin.
Still, it might not be too long before the cryptocurrency goes live. According to Peverell, the team is aiming for launch âsometime in 2018.â
Magic wand image via Shutterstock