, as the first implementation of privacy-oriented protocol Mimblewimble along with Beam, has been one of the few highlights amid the crypto winter since its mainnet went at the beginning of the year. Started in late 2016, the cryptocoin prides itself for a community-driven project that is “launched fairly, free of ICO, pre-mine or founder’s reward”.Though credited as a promising crypto, Grin coin’s endless supply has plagued a majority of potential investors, including a large number of Chinese miners. On March 14, 8btc, the earliest bitcoin social media in China, invited the development team of Grin, together with the CEO of BTC.com Zhuang Zhong, one of the earliest mining pools to support Grin mining, to hold an online AMA (Ask Me Anything) with the Chinese crypto community.Questions about no maximum cap have been heatedly discussed in the AMA. Regarding this, Grin developers stressed that “supply itself is not important, but rather the predictability of its emission”. According to Gary Yu, after 10 years, Grin will have a lower inflation rate compared with U.S. dollar.Yeastplume: Basically, Grin is trying to be ‘better money’. Grin is well known as an implementation of the very new Mimblewimble protocol, but it’s also contains many learnings from an evolution of chains that’s come before it. A lot of the technologies in Grin are evolutionary improvements to other coins. For instance, many privacy coins are built on top of a Bitcoin-style blockchain, and the privacy features are built on top of that (sometimes as an option as opposed to being the default), which in some cases can lead to very large blockchain sizes. With Grin, thanks to Mimblewimble, the privacy is built directly into the core protocol in a very compact and elegant way that minimizes bloat. It also allows all sorts of other size and efficiency improvements, such as fast sync and node pruning. So I wouldn’t say Grin is trying to solve a particular set of pain points, but it is generally trying to improve on all aspects of running and using a privacy-based cryptocurrency.So I would say the main pain point addressed is lack of privacy in other coins. But also the reduced scalability in other privacy coins,（and lastly, I see it addressing the pain point of complexity）Q2. What’s the plan and frequency of Grin network updates in following days？Hashmap: We have reserved 4 (or 3? could be off-by-one error on my side) slots in the first 2 years (every 6 months) for potential hard forks (tweaks in Cuckaroo29 and perhaps something else consensus breaking). Each of them may or may not happen. Besides that we update the node and wallet code quite regularly, so users are advised to update to get the best grin experience.Q3. What’s the current state of Grin Foundation and the usage of raised funds?Lehnberg: We track our funding campaigns on the project website, and also track income and spending in detailed financial logs on our project management repository.We celebrate all our donors on our Friends of Grin page where a Hall of Fame was just introduced to give special recognition to the donors who have made very significant contributions to the project. That said, all donations are most welcome, big or small. And we are thinking about ways to give recognition to donations beyond just money, like for example companies who donate some of their employees’ time to work on Grin.So far, the only spends that have been signed off on has been to fund security audits of our code, and to fund developers. All funding decisions are discussed in the open. I expect that the funding efforts for the foreseeable future will focused on supporting protocol development, like for example to fund engineers.To clarify in case it’s not obvious: Grin has no foundation. There’s no company. There’s no legal identity or official organization. We explored foundations in the past and decided it did not make sense for us to have this. https://github.com/mimblewimble/docs/wiki/Regarding-FoundationsQ4. In terms of compliance, what will Grin do as a privacy coin?Lehnberg: Physical cash has existed for a long time. Is cash compliant? I would say cash is neutral or indifferent to compliance. It’s not cash that needs to be compliant with a particular regulation, it’s the people and businesses that use cash. Similarly, I don’t think compliance is a matter for Grin, but for its users.Q5. Grin started late, and chose to launch in a bear market, is there any intention behind it? In addition, Grin is only listed on some small exchanges at present. Will Grin get listing on major ones like Huobi, Binance and OKEx in the foreseeable future? In other words, do you have any plans to try and gain access to these exchanges?Quentin Le Sceller: Ignotus Peverell started Grin in October 2016. So this new cryptocurrency has been developed for more than 2 and a half years. We did not specifically choose to launch in a bear market, it was just time for Grin to be launched.Regarding the exchanges, Grin team does not work directly with exchanges for listing. If you’d like Grin to be listed on one of these exchanges, I invite you to contact them.Q6. There have been established privacy coins like DASH,XMR and ZEC in the market, how can you stand out from the rest?Yeastplume: Grin is 100% community funded, there’s no pre-mine or dev tax, so I think the community has more reassurance that any decisions that are made about Grin are made for the long-term health of the coin rather than short-term gains for a small group of peopleQ7. Grin and Beam have been around for about the same time and share a lot of similarities in technology. What does Grin team think about Beam which gets funds from venture capitalist?John Tromp: We think there’s plenty room for multiple MW implementations, and although we disagree with their funding model, BEAM is making worthwhile additions to the MW design space with an original codebase, different choices of consensus critical data structures, and experimental features.Q8. The MimbleWimble technology was first presented by the bitcoin dev team, but why don’t they adopt it themselves? Are there any difficulties in technology implementation?Quentin Le Sceller: Originally the Mimblewimble technology was created Tom Elvis Jedusor back in August 2016. Later on Andrew Poelstra presented it at Scaling Bitcoin 2016 (so I’m not sure the question is correct in stating that MW was originally presented by Bitcoin dev).So why Bitcoin did not implemented it? We don’t know if Bitcoin will ever implement MW but I’d say that it is very unlikely in the short term. Bitcoin development is very conservative. Implementing MW in Bitcoin would likely requires major changes in the code. This would also mean that all the scripting language used in Bitcoin will not work too (as MW has no scripting language). Also confidential transactions (one of the pillars of MW) are larger than Bitcoin transactions.Q9. Do you see other mainstream coins like BTC, ETH and BCH as competitors to Grin?Lehnberg: We don’t see other teams and projects as competitors. Grin is focused to become better money. This is not a zero-sum game, and I personally welcome ways to be able to co-operate and work with other projects.Grin will have a lower inflation rate compared with U.S. dollar?Q10. How can a constant inflation model guarantee Grin’s survivability in the first years?John Tromp: In coming years, emission is constant like in early history of all coins. Monero is also surviving well with continuous inflation. I think ppl will come to realize that putting an end to inflation in some distant future (2140 for bitcoin) has negligible effect on survivability.Hashmap: and it’s not really unlimited, it’s limited by time, what really matters is predictability of the supply.Yeastplume: Also, nobody has definitively shown that fees alone will be enough to secure a coin once block rewards have gone too low, which may even make Grin more likely to survive.Gary Yu: Simplicity is a big part of Grin’s design and a constant emission is by far the simplest. Other emission schedules seem rather arbitrary and there are no science or study can definitely show which emission schedule is optimal.There are studies that have shown that having zero emission after a while can be dangerous however. Short emissions schedules seem to unfairly reward early adopters. And look into a picture made by CryptoProfGFor the 1st 10 years, Grin will have only issued about 54% more coins than Bitcoin (410=40 vs 44+24+12=26). This is certainly negligible compared to price fluctuation in 10 years, thinking about a 10% fluctuation often seen in just one day in current crypto market.After 10 years, Grin will have a lower inflation rate compare with US$. I really think Grin’s constant emission design is great!Q11. The inflation model directly contradicts “Satoshi’s Vision”. Will this inflation model make the “bubble” bigger and burst one day? On the other hand, the unlimited cap also discourages people from hoarding coins, so will it affect Grin demand and thus lead to the excessive supply in the market, or even dying?Yeastplume: Firstly, Satoshi was an engineer or developer putting together the first iteration of a new concept. He couldn’t see into the future to know all of his assumptions were correct, nor was the inflation model handed to him on a tablet from God.As for the rest, I think those have already been answered. The supply itself is not important, but rather the predictability of its emission. So long as that’s predictable, anything can be priced in.Gary Yu: For long term, Grin has a great potential to be a much better MOE (medium of exchange) than Bitcoin, while still as a good SOV.And regarding to “Satoshi’s Vision”, the exact one is “Make better money”, not the inflation model, Grin’s solving a lot of Bitcoin’s problem, that’s why a lot of people saying Grin is Bitcoin V2.0, my personal view.Q12. Why Grin offer two coins for mining (Grin -29 and Grin -31)? What’s the intention of the design?John Tromp: To maintain competition between ASIC and GPU miners; Both sides will have certain rewards.Q13. Now there are two algorithms for Grin mining. What could GPU miners do when ASIC is rolled out in the future？Zhuang Zhong: Ultimately, Grin hope ASIC miners could emerge, and these miners are developed under the situation that the community knows about it. Considering the uncertainty of miner development, the dev team has reserved the option of upgrading corresponding protocol.Q14. Grin sees obvious decline in its hash power recently, so how can you guarantee it won’t be threatened 51% attack?John Tromp: A 51% attack only makes economic sense if exchanges hold large balances that can be double spent. With Grin being so young, such large balances should be very rare and perhaps subject to extra precaution by exchanges. Over time, as ASICs are introduced, chances of pulling off a 51% attack will naturally reduce (assuming Grin remains the biggest coin using the Cuckatoo31+ PoW).Q15. How does Grin network handle transactions and how does the nodes and miners work together? How does Grin validate the transaction and ensure its traceability when necessary? Difficulty adjustment of Grin mining and block output mechanism? What should miners notice about the difference between Grin and other GPU-mined coins ?Zhuang Zhong: 1.There is no difference between the logic of transaction broadcast and packaging with bitcoin; 2. At present, Grin cannot provide the key for audit like other privacy coins, so it is difficult to trace them. The validation transaction is still based on the UTXO model; 3. One-minute gap for next block, based on the time taken by the last 60 blocks; 4. The Grin mining software is not mature enough as other coins at present, so we need to pay close attention to the software upgrade and the adaption of the mining pool.John Tromp: Difficulty is adjusted every block, based on the time taken by the last 60 blocks, with a factor 3 dampening factor, as expressed in function consensus: next_difficulty /src/consensus.rs#L261-L308 4) The Cuckoo Cycle family of PoW is very memory intensive, requiring over 10 GB for Cuckatoo31, and over 5 GB for Cuckaroo29, for optimal efficiency. It appears to favor NVIDIA, in particular the new Turing based RTX cards.3）Yeastplume: Short answer, probably never. Grin is taking a very community-driven approach to wallets. We don’t have UI and/or usability expertise on the core team, so our focus is rather to provide tools and libraries that make life easier for anyone who wants to build wallets and other support software on top of grin… so for instance, here’s Ironbelly: https://cycle42.com/ironbelly a community-developed iOS wallet. That’s just one example there are many more out there.We also think this approach is important, because the need to parties to interact during a Grin transaction can be challenging. There are different ways of facilitating this, some of which may have privacy tradeoffs which may be acceptable to some users but not others. Rather than prescribing a particular approach, we leave it to the community to experiment with different solutions. And to add, I think seeing several community wallets is a far better sign for how popular a coin is is than having the coin developers release an ‘official’ walletYeastplume: I think the best answer there would be to point anyone interested in our introduction doc, which tries to explain how a grin transaction works in as simple terms as er/doc/intro_ZH-CN.mdImportant to note that Grin doesn’t have addresses like other coins. All anyone can see on the blockchain is what looks like random data, and there’s no way to relate them to particular users or know what the amounts in each output are.Big Hi there, this is Lylian, an editor with 8btc. Love all kinds of "money", interested in new stuff going on in the world. Get the latest chinese policies on Blockchain and cryptocurrency for u...China’s Developers Survey: 79% of Developers Are Considering to Enter the Blockchain World Within a e-considering-to-enter-the-blockchain-world-within-a-year … China’s Developers Survey: 79% of Developers Are Considering to Enter the Blockchain World Within a Shichuo Information Technology Co, Ltd. 2019 | 8btc.com

Coin has just been launched and is already available for purchase on some exchanges. Among these, one of the first to list this new cryptocurrency was the Nexex platform, where Grin Coin can be purchased with bitcoin (BTC).Although it has just been launched, there are already several trades that have been made on Nexex in exchange for BTC and it is already possible to see the first price fluctuations on the chart. To buy Grin Coin on Nexex it is necessary to place a purchase order with bitcoin. In the help center of the exchange there is a detailed explanation of how to proceed, which we will summarize with a few key steps. The identity verification process on Nexex is mandatory in order to start trading. In addition, there are three levels of verification, with different thresholds of operability. Since the available trading pair is Grin/BTC, in order to proceed with the purchase you must make a BTC deposit on the wallet of the exchange.Alternatively, you can buy BTC directly on the exchange, using euro, Ethereum, or other cryptocurrencies listed, like for example, Eidoo.Obviously, if you want to buy BTC on Nexex, you will first need to deposit the necessary funds on the wallet of the exchange. If you want to pay euro you must proceed with a SEPA transfer. Once you have BTC on the wallet of the exchange, you can place a purchase order of Grin with BTC, using one of the two functions situated at the bottom left under the graph: Limit or Market.Using the Limit function, you can indicate the maximum bitcoin price you are willing to spend when buying Grin Coin whereas, using the Market function, the price will be defined by the market at the time of the trade. You can get a lower purchase price with the Limit function, but there’s no certainty that the purchase will take place: in fact, if the price set is too low, it may also be impossible to find sellers willing to sell their Grin Coin at that price. After having compiled all the fields in the Limit/Market form, it is sufficient to click on “Buy Grin Coin” to proceed with the purchase order. As mentioned before, if the order is a market order it will be executed immediately, otherwise, in the case of a Limit order, it all depends on the availability of sellers on the platform.  After sending the order, it will be visible in the section just to the right of the one in which the order was placed, that is the section of the orders in execution and those already executed.Once the order has been executed, totally or partially, the purchased Grin Coins will be visible in your wallet inside the exchange, and the transactions will be visible in the Transactions History page. At that point it will be possible to keep the Grin Coins on the exchange wallet or to withdraw and store them on an external wallet.Reporting the Future The latest news about Bitcoin, ICO, trading, blockchain and fintech.Stay updated on all the news concerning cryptocurrencies and the whole world of ICO

[GRIN] with its implementation of the MimbleWimble protocol, is intended to be a scalable privacy currency that does not show addresses or quantities and, therefore, requires less storage than other cryptocurrencies focused on privacy.Grin is a cryptocurrency created by an anonymous development team, based on the blockchain technology of MimbleWimble, which is distinguished by hiding transactions completely and its scalability, a highly valued aspect in a currency with masive adoption prospects. All transactions are made through wallets that connect directly with each other. The transactions are made anonymous before registering in the blockchain.Grin, whose official launch was on January 15, 2019, is based on a linear inflation algorithm, where the total offer of the cryptocurrency is unlimited. This project comparing it with its rivals has little time to live, has already gained many followers.Compare the privacy currencies is not as simple as it seems, in the cryptographic ecosystem, each action requires sharing information with all other users, which makes the privacy is quite limited. For this reason, several cryptocurrency projects have been launched with a specific objective to improve privacy features. Grin is one of these projects.MimbleWimble was created in July 2016 and like bitcoin its authorship is unknown, in this case the person or people behind the project, have used the nickname of Tom Elvis Jedusor to sign this protocol. As a curiosity, we can say that this is the name of the fictional character of Harry Potter, Lord Voldemort, in the French version of the books, plus MimbleWimble is what they call one of the spells used in the saga, by which they tied the victim’s tongue to prevent him from talking about a specific subject.In August of 2016 Tom Elvis Jedusor, published a link to Mimblewimble in a bitcoin developer chat, which immediately caused great interest among users. The connection of Harry Potter and this project does not end here, because a few months later, a user called the same chat with the nickname of Ignotus Peverell (Another character in the Saga) said he had a project to implement this protocol, the project in issue was Grin, a name that is also linked to the same topic, since it comes from the bank Gringotts, a bank of magicians who they say is the safest place in the world, for anything you want to keep.MimbleWimble combines versions of various cryptographic techniques designed for Bitcoin. In addition, it uses a fairly intelligent maths to completely eliminate the appearance of typical blockchains. The first technique of MimbleWimble is confidential transactions (CT). CT allows users to hide both quantities and addresses in each transaction, so that only two people know the amount involved and addresses in the transaction, namely the sender and the recipient.Another of the characteristics of MimbleWimble is the scalability, since it maintains the blockchain with a smaller size eliminating all the intermediate states of the UTXO (an unspent transaction result), leaving only the unspent exits in the chain of blocks so the blockchain does not grow with the number of transactions, but with the number of UTXO, aspect that makes it growing slower.As they say in the official Github of MimbleWinble:“MimbleWimble is a blockchain format and protocol that provides extremely good scalability, privacy and fungibility by relying on strong cryptographic primordial bases, addressing existing gaps in almost all current blockchain implementations.”CoinJoin is a mechanism whereby you combine several transactions in a large transaction, so all senders send money to all recipients at once. The MimbleWimble protocol combines CT and CoinJoin with more intelligent maths and, in the process, eliminates traditional private keys, public keys and addresses, keeping only the inputs and outputs.“Cuckoo Cycle is the first working test chart, and the one most linked to memory, but with instant verification. Unlike Hashcash, Cuckoo Cycle is immune to quantum acceleration by Grover’s search algorithm. Cuckatoo Cycle is a variation of Cuckoo Cycle that aims to simplify the ASIC by reducing the ternary counters to simple bits.”Grin also integrates the Dandelion protocol, which is a solution that provides a higher level of anonymity by hiding the IP address of the blockchain transactions. This protocol was created thanks to the collaboration of specialists from Carnegie Mellon, the Massachusetts Institute of Technology (MIT) and the University of Illinois.Dandelion works in two phases, the main phase is where the protocol reduces the ability to show the IP address of the originating node, increasing anonymity. In this phase, through an algorithm, the node transmits the transaction message to a random node, this node only transmits the transaction message to another node, this process continues until one of the nodes begins to spread the message to the rest of the network.At this point begins the Spreading phase (propagation phase), where a single node transmits a message that propagates rapidly to most nodes in the network, the sum of these phases increase the difficulty when it comes to tracking the node original and therefore the identity of the sender.Currently Grin has an unlimited supply, which means that there is no limit on the issuance of coins, the cryptocurrency will not have any halving, which means that the reward received by the miners per block will remain stable at 60 Grin.“Grin’s inflation rate can discourage hoarding and improve its distribution, which discourages “whales”, which otherwise have an excessive amount of control over the price of an asset, and minimizes speculative bubbles and changes in prices … The constant issuance could provide greater security in supply / demand for all types of users, and allow a transparent and natural price.”If you are interested in mining this cryptocurrency, from Crypto-Economy we put at your disposal a Grin calculator where you can see the profitability and expenses incurred through the mining of Grin and other cryptocurrencies. 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, a new privacy coin based on the Mimblewimble protocol, has officially launched. But what privacy features does it really offer? And why might it appeal to users more than the other cryptocurrencies out there?The Grin homepage describes grin as a cryptocurrency that "empowers anyone to transact or save modern money without the fear of external control or oppression."Most other cryptocurrencies make similar promises to enable seamless, cross-border payments without central oversight. But what makes Grin different from most other cryptocurrencies is a set of privacy features that are intended to add extra layers of anonymity and security.One of those features is the deletion of most historical transaction data, which helps prevent the tracing of grin transactions. Another is that grin transactions are routed through a random set of nodes before being recorded on the blockchain, which also makes it much harder to trace the ultimate source and destination of transactions. The ability to aggregate transactions, as well as to exchange money without using wallet addresses, provides even more enhancements.All of these features place Grin in the family of so-called “privacy coins,” or cryptocurrencies that are designed with enhanced privacy features built in. Other well-known privacy coins include Monero, Beam and Zcash, which come with various special features of their own to obscure transaction histories and prevent abuse.At a high level, many of Grin's privacy features are not especially unusual. Although the technical details behind their implementation in Grin are somewhat different, concepts like aggregating transactions or minimizing the amount of transaction data that is permanently recorded are present in other privacy coins.The concept of address-free transactions, however, is more novel. Critics might contend that grin transactions still require some details that could be traced to individuals; for instance, a snooper might be able to profile a Grin user based on the application that the individual uses to send or receive grin. Still, cryptocurrency addresses are the most obvious and universal way to trace someone's transaction history; by taking them out of the picture, Grin at least makes transaction tracing harder, albeit not impossible.Also notable is that Grin developers have placed a strong emphasis on decentralization and scalability in designing the coin. In an effort to prevent a small group of investors from exercising outsized control over the project, Grin does not distribute coins at a steep discount to early adopters via an ICO, as many other crypto projects do. In addition, by minimizing the transaction data that is recorded on the Grin blockchain and establishing a fixed rate of rewards for miners, Grin can theoretically avoid the scalability problems that have afflicted cryptocurrencies like bitcoin, which has struggled to maintain fast transaction rates as its blockchain has grown larger and larger.Will Grin's attention to scalability and decentralization prove enough to set Grin apart from the many other privacy coins that are now trading on crypto exchanges? Time will tell, although early indicators suggest that investors are excited by Grin.Jarrod Dicker, CEO of Po.et, has left the project to become the vice president of commercial technology and development at The Washington Post. Po.et is a set of decentralized protocols and applications allowing users to timestamp creative assets to the Bitcoin blockchain, among other potential media DApps.After repeated delays toward launch, Bakkt is hiring for several new positions, a sign that the project could soon go live.

crypto will have you grinning at your PC when you realise what it has to offer. With significant focus on privacy, the developers behind Grin crypto envisioned Grin being used by people from all walks of life; with no restrictions on culture, skills, borders or access. If you haven’t heard of Grin crypto or don’t know much about it, hang on, let me introduce you.Grin crypto is a developing cryptocurrency project that strives to develop and resolve some setbacks in the existing Bitcoin network/ blockchain. It focuses mainly on privacy followed by scalability and fungibility. An interesting fact about Grin is that it has no transaction history, no fixed supply no address among other aspects; so how can it be classified as a cryptocurrency? How does it work? Mimblewimble! Let me explain!From the Harry Potter series that most of us know, the word ‘MimbleWimble’ is a spell that was cast to bind someone’s tongue and stop them from talking about a particular subject or casting another spell. Therefore, in this case, it refers to the anonymity of all recipient, sender and transaction data; so much so that it cannot be seen simply by having a look at the blockchain. These features that Mimblewimble possesses making it one of, if not ‘the’ most privacy-based ledger ever developed for any cryptocurrency.Even though Grin crypto has no addresses and the transaction information is completely hidden, validation still needs to take place. MimbleWimble uses the Elliptic Curve Cryptography properties to base their transaction on the verification of zero sums as well as ownership of private keys. Therefore to verify transactions the total output minus the total input of transactions must be equal to zero. When the transactions are verified and everything balances out then the transactions will be forgotten forever.Moreover, the maximisation of privacy is done by privately routing transactions between peers and then notifying the network after that. Therefore no one will know when I send you 100 Grin cryptos for example. Furthermore, rather than having addresses, any payments are forwarded to IP locations or HTTP as file transactions.Beam and Grin are the two major implementations of the MimbleWimble so far. However, MimleWimble may be the only thing these two have in common. Otherwise, they have their differences. For starters Grin is community-driven. Therefore the work done by developers is voluntary; whereas, beam cares more about getting things over and done with so they hire developers and collect VC funds.1. Grin is highly scalable because it can verify transactions without having to store a lot of information on the blockchain. Moreover, MimbleWimble has a lot of potential as it protects transaction data from third parties.2. Grin is still developing and is still fairly new, but it has managed to build a good community creating exposure for itself in the cryptocurrency world; leading to it being listed on major exchanges such as Poloniex and Bittrex3. Grin has straightforward token economics that guarantees the yearly decrease in inflation. Resulting in a concrete monetary policy that will be difficult to change in the future.4. The developers working on Grin are highly competent and constantly active. The Grin GitHub has up to 121 contributors working on the project.1. Grin is very different from other tokens, and its decentralised nature may lead to difficulties in updating the blockchain in future.2. Since Grin crypto relies on donations for its developers to work on the project, if at some point the donations stop coming in; there is a possibility that the developers will opt to leave the project and go to where there is a better funding system.3. There is a lot of competition in the privacy coin sector, with coins such as Zcash and Monero. These cryptos already have more developed communities and are at an advantage; which poses a threat for Grin crypto.4. Grin crypto may find it very hard to be successful as a privacy coin as there is still great uncertainty in the future of privacy coins.The Harry Potter themed Cryptocurrency is one of the very first implementations of MimbleWimble; and although it is still quite new, it has shown a lot of potential and growth. Nevertheless, others will see it as a complete joke, and others believe it will be the saviour of Satoshi’s original vision. Can Grin crypto give crypto-fanatics something to smile about? Only time will tell!Save my name, email, and website in this browser for the next time I comment.

Community Announces Anti-ASIC ForkShutterstockGrin hopes to prevent a mining monopoly. By -The Grin community has announced the date of its first-ever scheduled hard fork, in order to prevent the network from being dominated by specialized mining hardware. This will be the first of four scheduled system-wide upgrades during the first two years of the coins life. The hard fork will be executed on block number 262,082, which is expected to be mined on July 17th. The decision was made during one of the networks bi-weekly developer meetings, which is exactly how their governance model is intended to work. The main purpose of the upgrade is to prevent manufacturers from developing ASIC equipment, which could make mining the coin impossible to all but the best-funded players. Although the Grin community is not explicitly anti-ASIC, they hope to slowly integrate specialized miners to the ecosystem in order to provide a more fair distribution in the projects early years. By tweaking the mining algorithm every six months, the community prevents ASIC manufacturers from realizing a profit on their machines. Monero follows a similar strategy, with scheduled forks every 6 months to limit ASICs on their network. The hard fork will also feature upgrades to the official Grin wallet software to increase flexibility and usability. One of the main reasons why some consumers prefer Beam over Grin is that their current developer suite is much more user-friendly. Grin users hope this upgrade will help onboard new users in a friendlier manner. Early Grin wallets required users to use command-line code, a significant barrier to adoption.With six weeks to go until the hard fork, Grin is quickly approaching all-time-highs in its market capitalization:The coin is just $1.5M USD off of its all-time-high. Although this upgrade is not intended to boost its price, increased media exposure might introduce new buyers to the project. The upgrade will go live on testnet within two weeks, in order to work out any kinks in the code prior to launch. DISCLOSUREAuthors at Crypto Briefing are invested in cryptocurrencies. The author of this post may be invested in digital assets mentioned here.Latest NewsBitcoin Mining Consumes More Electricity Than New Zealand, Report FindsZilliqa Price Analysis ZIL / USD: Approaching BreakoutTezos Price Analysis XTZ / USD: Turbulent ClimbRipple Price Analysis XRP / USD: Buying The RumorLong Fin Of The Law: SEC Slaps LongFin With Fraud ChargesZach believes that blockchain tech will change the world - slowly. Although he's an optimist, he has read enough on emerging technologies to know that adoption takes time. Zach has a full-time job in finance, and writes about cryptocurrency to share his enthusiasm for the space and its characters.JOIN OUR COMMUNITY!Join the conversation onTelegramandTwitter!RELATED ARTICLESBitcoin Mining Consumes More Electricity Than New Zealand, Report FindsPaddy Baker - Bitcoin mining currently consumes more electricity than the entire country of New Zealand, according to a new report. But the cloud has a green...Read morendau: How Decentralized Governance Can Make Crypto StatelessPaddy Baker - Few cryptocurrencies can provide a long-term store of value. Some tokens are pegged to fiat, but the consistent inflation of national currencies means these...Read moreTrustToken Wants Coinbase To Be WorriedPaddy Baker - Few crypto companies can count themselves as effective Coinbase rivals, but one startup plans to give Brian Armstrong a run for his bitcoin. TrustToken...Read moreWhats Your News?7,631FollowersFollow1,257SubscribersSubscribeMore News & AnalysisBitcoin Is The Holy Grail: How Institutions Are Changing CryptoCrypto Marketing Genius Generates 20x ROI From Publicity Stunt (But You...Mt. Gox CEO Mark Karpels Wants To Get Back In BusinessWhy Walmarts Blockchain Partnership Is A Huge Deal For The Pharma...Bittrex Exchange Looks To Standard Tokenization Protocol For IEO Takeoff$20bn Crypto Wipeout: Manipulation Or Overdue Correction?Robots Can Now Trade Crypto Better Than HumansThe SEC Strikes Back: Kik Counterpunched With Illegal Securities ChargeSave The Whales? Why Big Traders Arent That Bad For The...Monero Community Validates New Anti-ASIC Mining AlgorithmTicker Tape by TradingViewDisclaimerGet The Best Of Crypto Briefing!Crypto news flashes, new DARE research, upcoming mainnet launches, market reports, and much more!

is considered as the second cryptocurrency leveraging the tech to go live on mainnet, and the first being built by an Israel-based startup called Beam. The Grin developer “Yeastplume” in late October highlighted that though the two privacy-focused chains are split, the projects does not compete, with advocates at Beam even assisting in raising funds at one point for Grin development.It is an implementation of the MimbleWimble protocol that intends to be a scalable privacy coin that has no addresses, no amounts, and is, therefore, less storage concentrated than other privacy coins and digital coins. The coin has an anonymous founder and has been developed by the community, and Grin is slated to have a good proof-of-work launch in Q1 2019. Its mining algorithm is presently ASIC-resistant, indicating users can mine Grin utilizing a laptop.MimbleWimble is a design for a blockchain that is entirely different from the bitcoin blockchain, and all others for that concern. It is taken from the Harry Potter series, “Mimblewimble” is a spell that when cast binds an individual’s tongue to prevent them from talking about a particular subject; more particularly, to stop them from casting another spell. It alludes to the fact that by design, all sender, recipient, and transaction data is anonymized and cannot be concluded from observing at the blockchain. These features render MimbleWimble extremely unique regarding blockchain architectures and make it is apparently the most privacy-centric ledger for a cryptocurrency ever developed.Understanding MimbleWimble needs a basic knowledge of Bitcoin’s unspent transaction production (UTXO) model:If Jessica sends 1 bitcoin to John she’s not just transferring a one bitcoin balance to him like a cash community, which looks like:Jessica -1 Bitcoin John +1 Bitcoin But that’s not how bitcoin accounting manages. Every transaction is performed of a bundle of inputs and outputs that go from one person to another. So, Jessica’s 1 bitcoin transaction to John, her wallet software is bundling up inputs from preceding bitcoin transactions that advance up the 1 bitcoin she is sending John. Sometimes there can be hundreds of data in this transaction, and each transaction demands to be individually endorsed by the wallet software. It adds a lot of data to the blockchain and becomes cumbersome. Jessica’s transaction is:Jessica – [0.2+0.1+0.7], and where the [X+Y+Z] are past transactions that need to be bundled and certified by Alice’s wallet.It’s a little complex, but this is a proven consensus model that has been shown to be protected. Other models provide security that is more of a test.Pros: It is highly anonymous that no addresses or amounts recorded to the blockchain, fast in 60 second block times, scalable size of blockchain is dependent on the number of active users rather than the amount of addresses).Cons: It loses some functionality on scripting, highly experimental and may comprise some bugs or coding defects, not certainly a proven store of value.Grin payments need a three-way process that also presents it a bit different from bitcoin and any other cryptocurrency transaction. These can be done automatically by an IP address or keybase, or can be handled manually.Grin and MimbleWimble are innovative new developments in the area of cryptocurrency which make the most out of the cryptographic systems initially applied by bitcoin. Grin is a radical departure from pre-existing Proof of Work coins and answers a few major problems from which bitcoin experiences: scalability, speed, and privacy. That being said, it is still in its very early stages and has a long way to work before it can establish itself to be a technically reliable, trustworthy and widely-adopted model for a cryptocurrency, and investors should be conscious of these factors before plunging head-first into it.Your email address will not be published. Required fields are marked *Unable to display Facebook posts.Show errorfunction ne";}