**** Before going any further, keep in mind that GRIN is not yet born, the project is at an early stage. It still has to prove himself *****

Are you a crypto fan, true to the very first BTC vision?
Are you a privacy coin fan?
But most important…are you an Harry Potter fanboy?:)

Then GRIN (name from the Gringotts Wizarding Bank – H.Potter world) is what you were waiting for. Let’s take a look at some project features:

1- It’s a community-based project; no ICO, no pre-mine;

2- Mainnet launch will be around Q1 2019, then we are in time to jump on board (not finantial advice) as first adopters / miners / investors

3- Based on brand new protocol named: MimbleWimble (again, Harry Potter fans can recognize where the name comes from)

GRIN advantages thanks to MimbleWimble:

  • It’s based on a Privacy-by-default protocol (MimbleWimble); no downsides like intence computational power or huge blocks, like others private coin competitors
  • It has scalable transactions by storing a fraction of data per block (10% compared to BTC) thanks to homomorphic encryption; means that it is easly scalable, less centralized, and very fast.
  • Simple design for peer-to-peer transactions (usable coin for everyday transactions)
  • Anonymous founding team behind this new protocol created by Voldemort himself (yes, you heard it correctly!). MimbleWimble whitepaper was first posted online on 19 July, 2016 by his creator, hidden by the nickname: Tom Elvis Jedusor (anagram for Voldemort french name)…Does not remind you about another mysterious creator of crypto projects suddenly desappeared after dropping the whitepaper? How cool is that! Furthermore, not having a direct, recognizable leadership behind a crypto project reduces the risk of leaving everything in one hand. The more, the better! A strong, motivated community involved could easily lead to success.
  • Community-driven with a focus on decentralized development and mining; GRIN runs on a PoW algorithm called Cuckoo Cycle that’s ASIC resistant (at least for the first period post mainnet launch); meaning we could GPU mine Grin from our laptop, helping the full decentralization and kicking Antminers in the ass!:)

In conclusion, I will definitely take a closer look at this very promising project, and hopefully before Q1 2019 I’ll be geared with some more GPU ready to mine!

Hope you enjoied the reading, ciao

Ric

P.S. Like always it’s not financial advise obviously!

Useful links:

http://grin-tech.org/

https://download.wpsoftware.net/bitcoin/wizardry/mimblewimble.txt

https://www.grin-forum.org/

https://github.com/mimblewimble/grin/blob/master/doc/grin4bitcoiners.md

Grin Coin And MimbleWimble: An Introductory Guide

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Responses

  1. CryptosDecrypted

    Thanks for the overview Rictoken. Very interested in this project from a technical perspective. Lots to like. An anonymous founder does indeed have benefits from in respect of decentralisation but other risks may then arise (Bruno etc.). Still, this is indeed one to watch.

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