A Formal Analysis of the Mimblewimble Cryptocurrency Protocol †

Mimblewimble (MW) is a privacy-oriented cryptocurrency technology that provides security and scalability properties that distinguish it from other protocols of its kind. We present and discuss those properties and outline the basis of a model-driven verification approach to address the certification of the correctness of the protocol implementations. In particular, we propose an idealized model that is key in the described verification process, and identify and precisely state the conditions for our model to ensure the verification of the relevant security properties of MW. Since MW is built on top of a consensus protocol, we develop a Z specification of one such protocol and present an excerpt of the {log} prototype after its Z specification. This {log} prototype can be used as an executable model. This allows us to analyze the behavior of the protocol without having to implement it in a low level programming language. Finally, we analyze the Grin and Beam implementations of MW in their current state of development.