*Please do not plagiarize my article*Grin (GRN): The New Privacy Crypto Backed Coin Set to Rival Bitcoin (BTC)
Any new invention is met with a lot of respect and this is why Bitcoin is held in high esteem in the blockchain industry. However, the coin has opened the floodgate for shinier projects that have a better value proposition and a bright future.
Grin (GRIN) is one of these new projects which have better features compared to Bitcoin.
First and second generation coins have paved way for grin, an ecosystem that has all the improved features missing in the crypto sphere. The modern day investor is more informed than five years ago. The team behind the project is centered on the consumer needs with practical use cases.
What Does Grin (GRIN) Stand for?
Grin is all about freedom that is wrapped in total privacy. Its electronic transactional prowess is non-discriminative and anyone is free to participate. Users are not censored there are no limits imposed by a central authority. You do not have to be tech savvy to be part of the growing Grin community.
Grin is not geo-targeted and anyone from the remotest part of the globe has access to the ecosystem and its range of services and products. By design, the platform is timeless and ready to transcend future generations. To get a good glimpse of Grin, below are some select features that will discern the user now and in the future.
Stealth PrivacyThe beauty of the Grin transactions is that there are no “amounts and addresses”. The system automatically hides the origin of newly initiated transactions. These are privately “transported” randomly between network participants before they are publically broadcasted.
This is one feature that most coins including privacy ones have not been able to crack. This is must have feature for any digital asset that is set for the future. What’s more; the coin is community driven and the user needs are addressed as a priority.
Grin Scalability Uniqueness
A big percentage of coins in the market are bogged down by lack of scalability and Grin has hit the ground running with MimbleWimble cryptography capabilities ensuring that data that was generated in past is rendered obsolete and discarded. After all, why should an investor opt for a network that is congested?
Network congestions slows down transactions speeds which leads to transaction fees surge. This also affect the mining team rewards with most of them shifting base to coins that offer better rewards. This is a major problem that has hit the crypto market leaders like Bitcoin and Ethereum prompting Grin to avoid it like a plague.
To bring you up to speed, MimbleWimble is the force behind the Grin privacy and scalability. It is a mix of various innovations that takes transaction to a higher level compared to that of Bitcoin giving the new marker entrant superior fungibility.
Technically the
Grin GitHub summarizes the entire process thus:
“Similarly to a transaction, all that needs to be checked in a block is that ownership has been proven (which comes from transaction kernels) and that the whole block did not add any money supply (other than what’s allowed by the Coinbase). Therefore, matching inputs and outputs can be eliminated, as their contribution to the overall sum cancels out…..Note that all transaction structure has been eliminated and the order of inputs and outputs does not matter anymore. However, the sum of all outputs in this block, minus the inputs, is still guaranteed to be zero.”Unique Open Grin Development Team
The Grin developer team is not holed in an office in those luxurious city rentals; instead developers are spread across the globe since the entire outfit is not controlled by a firm. The platform dos not have a foundation or an individual decision maker.
The openness of the ecosystem is the basis of fairness which has been illusive in a market that has been controlled by whales and tech savvy developers. Like Bitcoin, the outfit is fully decentralized and the team has chosen the Proof of Work (PoW) that deploys the Cuckoo Cycle algorithm.
The Grin project team has opted to what has been tested and settled on Proof of Work as the right vehicle for consensus. However, they have gone further to settle on the
Cuckoo Cycle algorithm. This comes at a time when mining firms are migrating from the industry and the Grin choice is ASIC resistant which is better suited for CPU and taking decentralization a notch higher.
Dandelion Deployment on Grin Ecosystem
Modern blockchains are heavily investing on infrastructure and one striking feature of the Grin is the Dandelion protocol which is an additional privacy layer. This guards the platform against the ever increasing crypto attacks. This blocks any attempts to track transactions based on the IP address of origin.
However, the Dandelion protocol in this case is a modification and helps in aggregating transactions and merging them with the MimbleWimble. This makes GRIN a transactional currency, a deviation from the Bitcoin store of value concept. The unique feature makes the coin an island surrounded by coins prone to market volatility. I=the move is aimed at making the digital currency stable in value going into the future.
Peek Preview of the Grin SpecsThe Grin specifications are what investors are looking for in any given digital asset. It acts as a guide as to why anyone should be part of the young but fast growing Grin community. The Cuckoo Cycle PoW distances the ecosystem from Bitcoins’ offering. The algorithm choice makes the network stand out from the crowd and distance itself from the market hype.
Speed is a key area that makes or breaks many crypto projects. Grin presents a block time of 60 seconds and this helps the outfit distance itself from the altcoin competition. What’s more; the ecosystem is the confluence of privacy coins and other digital assets.
One reason Grin will remain the miner haven is because the project does not have a block reward having plans. At the time of filling this report, the block rewards stood at 60 GRIN which to any miner is a good and sustainable value proposition. Lastly, the coin supply is not capped and its infinite nature is a good selling point for GRIN.
Other reasons that are set to entice early adoption include the lack of founders’ rewards, deliberate elimination of master-nodes in the ecosystem and lack of the tedious process of going through the Initial Coin Offering (ICO). Individuals, corporate entities and individuals are the backbone of the Grin ecosystem funding according to their official website
If you’re an individual, company or institution excited about the potential of Grin or MimbleWimble, we humbly ask if you’d consider making a financial contribution to the project’s development. We’re experimenting with a 100% community-driven funding model.
We sincerely thank all our past patrons for their support.The total GRIN supply is unlimited and the platform deploys the
linear supply mechanism where investors have an upper hand to spend their stakes as opposed to holding. When the coin circulates through spending, inflation rate is anticipated to start high and drastically head south towards 10% in a decade and eventually to the near 0% levels.
Grin (GRIN) Route to Market
The crypto verse is highly speculative and the Grin project team appears to be playing their cards well. However, with the speculative nature of the market, enthusiasts are waiting for the coin to hit the market. With a practical monetary policy, the coin is set to keep whales away and let it be controlled by market forces.
The cutting edge technology behind Grin is another plus that is set to keep the, market excited with high profile exchanges salivating for the asset. The visibility is yet to come out clear and this will soon be amplified by the route to market the coin adopts.
Bitcoin adherents are watching the coin especially its privacy feature and the potential behind the MimbleWimble. Another reason crypto sphere goers are watching is the global developer contribution; a first one in the industry.
Grin (GRIN) Ushers in a New Era
The 15th of January saw the genesis Grin block mined under the MimbleWimble technology to usher in a new era in the privacy coin niche. The coin enters the market when demand for privacy coins is on the rise and this could see the coin demand head north from the first month.
After the MainNet went live, most investors exuded confidence in the coin and analysts are warning against the usual crypto hype that culminates in FoMo. The coin is however in its initial stages and the platform’s code base is still undergoing security audit.
Grin (GRIN) Price Recap
At press time, the Grin coin price stood at $3.89 representing the day’s low. This comes hours after the coin hit a 24-hour high of $4.27. At the same time the digital asset is ranked 468 among the most valuable coins in the market to date.
The same trading period has seen a total of $2,722,335 worth of GRIN change hands. The HotBit exchange is the largest GRIN mover with the most popular pair being GRIN/BTC, GRIN/ETH and GRIN/USDT. HotBit exchange pushed 74.8% of the total volume which is a clear indication that the coin is set to rattle BTC in the near future especially due to its monetary policy and stability.
Grin Parting Shot
It might be too early to predict the direction GRIN price and value takes but by looking at the coin features, it is possible to note that the coin is far much superior to Bitcoin. The coin privacy capabilities have not only shaken Bitcoin and other privacy coins.
As much as Bitcoin remains the respected digital coin and store of value in the market, its shortcoming have seen more innovations into the market a clear indications that the technology is just getting started. Grin might not be an instant hit but stand a chance to be among the top 100 most valuable coins in the market before close of 2019.
