Everything you need to know about the cryptocurrency Grin, a blockchain that uses the Mimblewimble protocol to provide extra privacy.
Learn more: https://crushcrypto.com/grin-analysis/
Project website: https://grin-tech.org/
Original whitepaper: https://download.wpsoftware.net/bitcoin/wizardry/mimblewimble.txt
Andrew Poelstra’s whitepaper: https://download.wpsoftware.net/bitcoin/wizardry/mimblewimble.pdf
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Note: This is not a paid review. We do not offer promotional or advertising services. Our content is based on our own research, analysis and personal opinion.
What is Grin?
Grin is an open source blockchain that uses the Mimblewimble protocol to provide extra privacy. Mimblewimble is a protocol where transactions can be cryptographically verified despite hiding the amount that is being sent. To read more about Mimblewimble, refer to our article on cryptography and privacy.
As of March 6, 2019, the circulating supply of Grin is 4,336,260 with a market cap of $14 million.
The rate of new Grin coins being released is 60 per block, or 1 every second. This rate is likely to remain constant forever, meaning the inflation percent will decrease every year as the circulating supply grows.
After 10 years, the inflation rate will fall below 10% - after 20 years, below 5%. In 25 years, Grin will have a 4% inflation rate, comparable to Bitcoin’s rate 10 years after its creation. Additionally, the Grin team has cited multiple studies to estimate that 2% or more of Grin tokens will be lost from circulation each year.
- Mimblewimble is a promising privacy protocol that completely shields transaction information from any third parties. It also allows for transactions to be verified while storing minimal data on the blockchain, which means Grin is a highly scalable blockchain.
- Grin launched with no ICO, no pre-mine, and no allocation for the founders, which may be viewed positively in the crypto community and discourage speculators.
- The open-source project is being developed by a highly competent group of developers.
- The token economics of Grin are straightforward and ensure the inflation rate will decrease every year.
- Even though Grin is a young project, it has already developed a decent community and exposure among the cryptocurrency space, with multiple solid exchanges (Poloniex and Bittrex) listed the coin.
- It has been seen with Bitcoin that having no true leadership can lead to long disputes over how to update the blockchain, and this could be an issue for Grin going forward.
- Since there is no fundraising, Grin developers rely on donations to fund the project. If such donations eventually stop coming in, the Grin developers will have to volunteer their time to work on the project.
- Grin has a lot of competition in the market as privacy coins like Zcash and Monero have a first-mover advantage, larger communities, and more widely known privacy protocols.
- The future of privacy coins in general is still uncertain.There is also significant uncertainty with respect to government regulation that could make it hard for Grin to thrive.
- The diluted market cap for Grin is very large right now. According to Messari, Grin is the 7th most valuable cryptocurrency using coin supply at year 2050, higher than both Monero and ZCash.
The information in this video is for educational purposes only and is not investment advice. Please do your own research before making any investment decisions. Cryptocurrency investments are volatile and high risk in nature. Don't invest more than what you can afford to lose. Crush Crypto makes no representations, warranties, or assurances as to the accuracy, currency or completeness of the content contained in this video or any sites linked to or from this video.