In light of recent events, I’m asking if it is technically possible to take all utxo commits and somehow verify that the sum is equal to an expected value (the expected supply of grin)?
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From my understanding it all depends on whether implementation of range proofs is correct. If it is and if the utxo equation matches the expected supply then it’s all good
This is what Mimblewimble does. After the utxo output have been verified (they have a valid rangeproof) and kernels have been verified (they have a valid signature), then if the MW balance formula is ok, then we should be fine as long as the discrete log problem is hard. This however assumes no bugs in verification logic.
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Very good question, thank you