the chain with no addresses (2019, mimblewimble). amounts live as Pedersen commitments, ownership is knowledge of blinding factors, and transactions merge: spent outputs cancel against their spends (cut-through), so the chain keeps only unspent commitments plus kernels. history physically shrinks — a new node syncs state, never the past
the lesson: a chain can forget. privacy and scale share one trick when the ledger stores commitments instead of stories — the appetite bbg inherits with its single committed polynomial. and the counter-lesson: grin's interactive transactions (both wallets online to build one) taxed adoption harder than its cryptography helped it — ceremony in the UX costs more than ceremony in the math
privacy · privacy/monero · bbg