The New Privacy Kid On The Block

By crypto_clay | cryptoclay | 3 Jun 2020

For years we have talked about the importance of privacy on the internet and for years people have been trying to formulate solutions to that very problem. Unfortunately, it's not that easy to protect yourself against governments, ISP's and businesses trying to earn a buck on your information. Many people in 2010, 2011, and 2012 believed that Bitcoin would protect their identity and decided to use it in an openly free market that we now know as Silk Road. However, those people had rude awakening when they realized that Bitcoin was not entirely anonymous. In fact, the Bitcoin protocol allowed the US government a means to view all the transactions that occurred during that timeframe. The first mover in the market to produce a product that allows us to mask ourselves from these things was Monero. Like Bitcoin, Monero has its flaws. It's privacy aspect has never been breached but it has become slow and congested with high transaction fees. If you decide to use Monero for privacy online, you wouldn't be making a bad choice.

BUT it's 2020 and Monero is over 6 years old. There is new technology that is faster and potentially more private, allowing us the opportunity to buy and use it. Enter Grin.

Grin is the newest privacy coin with huge prospects of allowing us to safely transact online with the comfort of knowing that our personal data is safe from the world. Not only is the project new, the protocol behind it is also brand new. Mimble Wimble is a privacy concept that completely changes the game. Not only does it mask the sender, receiver and amounts, but it also auto-wipes old blocks from the chain after a period of time to alleviate space and make the protocol more private. (This is an incredibly broken down explanation. There is much more to it than this) If you would like to read more about the technicalities, I encourage you to! https://grin.mw/