January 15, 2019
DescriptionGrin coin is a private & lightweight open source project based on the mimblewimble blockchain implementation. MimbleWimble is a lightweight blockchain protocol proposed by anonymous author that goes by the name Tom Elvis Jedusor (inspired by Harry Potter) in July 2016. Since then, the proposal has gained a huge following among Bitcoin and privacy advocates. What's Grin? Electronic transactions for all. Without censorship or restrictions. Grin empowers anyone to transact or save modern money without the fear of external control or oppression. Grin is designed for the decades to come, not just tomorrow. Grin wants to be usable by everyone, regardless of borders, culture, skills or access. Private There are no addresses in Grin. Two wallets communicate to exchange data and the result is broadcasted to the network. However what is different than most cryptocurrencies is that, the transaction history or trail is not recorded on the blockchain. Grin uses a blinding factor to conceal values. Scalable MimbleWimble leverages cryptography to allow most of the past transaction data to be removed. This ensures that the blockchain remains lightweight and as such any new node can easily join the network without getting bogged down by long sync time and having to bear high storage cost. Open Grin is developed openly, by developers distributed all over the world. It's not controlled by any company, foundation or individual. The coin distribution is designed to be as fair (but not gratis) as is known to be possible. There are 2 popular wallets widely available to interact with the Grin network. Grin core wallet: https://www.coingecko.com/buzz/how-to-use-grin-wallet-to-send-receive-grin-coins Wallet713: https://www.coingecko.com/buzz/how-to-use-grin-wallet713-to-send-and-receive-grin-coin-step-by-step-guide The consensus algorithm used by Grin is the Cuckoo Cycle proof-of-work based. There are 2 hashing algorithms involved with Grin. Cuckoo-29 is meant for GPU mining while Cuckoo-31 is meant fo ASIC mining. This is a deliberate design to encourage miners to eventually move into ASIC mining for efficiency while keeping it fair at the beginning of the launch. Grin coin has launched its mainnet on 15th January 2019 and is now available for mining and trading.