About Grin
Introduction and Funding
On January 15, 2019, the new Grin cryptocurrency was launched, the release of which was accompanied by optimistic forecasts from analysts. And despite the fact that cryptocurrency is still in test mode, a month after the official release, it was repeated on the list of the most popular coins. The Grin story is not typical for a number of reasons, which you will learn about below.
The first difference from most coins is the financing format. Grin is not the result of ICO and is not funded by any large sponsor. Fundraising for the development of the project was carried out on a charitable basis, despite the support of such major players as the Bisq exchange or the mining pools BTC.com and F2Pool. This is one of the most controversial issues because Grin developers often face the problem of lack of funding.
Technology and Anonymity
The Grin token is based on the MimbleWimble protocol, which can significantly increase the anonymity of the network and the scalability of the blockchain. This feature is the most interesting. Initially, the idea was to solve the problem of the Bitcoin blockchain, but the implementation was too complicated. This is how the unique MimbleWimble protocol and Grin cryptocurrency appeared.
The entire Grin blockchain is presented as one big transaction with the internal movement of coins.
Network operation does not imply a standard system with addresses and transactions. The entire Grin blockchain is presented as one big transaction with the internal movement of coins. Simplified, it looks like a transaction between two wallets. The exchange of information and the launch of the transaction occurs automatically, and the grin token (GRN) is used for the commission.
The blockchain network does not save either addresses or the number of coins, working on the principle of zero balance: Outgoing data is equal to incoming. Because of this, from the outside, it seems that nothing happens on the network, which creates excellent anonymity. The grin coin allows users to keep secret what users of other blockchain networks cannot hide.
Mining and Development
This is one of the key points for the development team. The grin token (GRN) can be mined on ordinary CPUs at a speed of 1 block per minute. The reward is always 60 grin coins. The mining algorithm on the CPU was chosen to contrast the constant hardware upgrades in ACIS mining.
The Grin cryptocurrency is an interesting development of the idea of anonymity in the blockchain network, despite some conflicting points, in the form of unlimited emission and strong competitors. But the plans of the developers and their gradual implementation so far leave positive forecasts from crypto enthusiasts and investors. The grin token is described in detail on the corresponding page of Neironix.io, where changes in price, demand, volatility and other recent updates are indicate