Grin (GRIN)

4 Articles 2 Followers

Grin (GRIN) is a cryptocurrency made by anonymous creators who uses the pseudonym Ignotus Peverell, in 2019. It is a decentralized blockchain that is one of the first implementations of MimbleWimble that addresses the scalability and privacy of blockchains today.

To understand GRIN, we first must understand MimbleWimble. MimbleWimble was first proposed by Tom Elvis Jedusor (another pseudonym) in 2016 and is the blockchain technology that provides a solution for privacy and scalability. Transactions are opaque on a MimbleWimble blockchain as there are no addresses and the transaction amounts are hidden. Two wallets communicate with each other to exchange the data with the recipient creating an address to give to the sender. Furthermore, the blocks on a MimbleWimble implementation do not show individual transactions but instead aggregate all the transactions into one creating one huge transaction with mixed inputs and outputs. This is how MimbleWimble addresses privacy.

To tackle scalability, MimbleWimble eliminates all old and unnecessary transactions on the blockchain to improve efficiency. This description of MimbleWimble applies directly to GRIN as it is one of the first implementations of MimbleWimble. Grin uses a PoW Cukoo Cycle algorithm that helps to combat ASICs by allowing them to mine separately from traditional CPU/GPU miners. Grin also uses a linear supply schedule where the overall supply is unlimited as their model encourages spending rather than holding.

The original anonymous founder has now left the GRIN project citing personal reasons and is happy that the project is still in very good hands. There is also some speculation that Ignotus Peverell (the founder of GRIN) and Tom Elvis Jedusor (creator of MimbleWimble) may be the same person due to their Harry Potter references.

Privacy by default: MimbleWimble

2 Dec 2019 3 minute read starke_kunst $5.26 tipped

One of the trends in the cryptocurrency industry that I keep an eye on is anonymous cryptocurrencies. I want to dedicate to this a separate series of articles and start it with the analysis of the MimbleWimble protocol and its two implementations. To...

Is MimbleWimble Risky for LiteCoin?

24 Oct 2019 1 minute read Yasin $0.56 tipped

  Litecoin creator Charlie Lee, Grin developer David Burkett, and LTC developer "ecurrencyhodle", published the draft proposal of applying Mimblewibmle to Litecoin to be solution to the issue of privacy and scalability.   Litecoin developer "ecurren...

Here's How To Mine... Easily

12 Sep 2019 1 minute read KeenanRIVALS $0.54 tipped

I've been looking into the idea of "passive income" for quite some time. I've picked up coins like $KCS (KuCoin Shares) and even messed around with some lower end ALT coins that provided some dividends. This was all fun, but it just wasn't enough for...

Guide on how to profit from buying and trading GRIN

11 Jul 2019 1 minute read kingscrown $0.07 tipped

Another trick to make free money. CoinEX is opening fun promo - deposit GRIN get CET at 1:1 ratio up to 500 CET with a total amount of 100,000 CET on a first come, first served basis. Got no GRIN or CET? Doesnt matter. Heres what to do. REGISTER to C...