the took place After a development period of more than a year, and a total of four Testnets, at 15. January is the official Launch of Grin. In addition to the Beam, it is the second Cryptocurrency that is based on the MimbleWimble Protocol.
By Michele Troccolo
17. January 2019BTC$3.605,85 0.31%Facebook Twitter LinkedIn xing mail
Behind Grin no company driving the development, and there has been no ICO for financing. The project is building in Open-Source manner, on a network of voluntary and mostly anonymous supporters. The main developer that listens to the Pseudonym „Yeastplume“, was funded for his full-time work to Grin even from the Community on a private Crowdfunding System.
Inflation for the long-term stability
Grin stands out clearly in the monetary policy. Interestingly, has chosen the Community for an Emission of constant 60 Grin per Block, which corresponds to a Grin-per-second. With other words: After the first year you have to expect an Inflation of 100 percent, which then decreases from year to year. After 25 years, you will reach an Inflation rate of four percent, which has reached Bitcoin, for example, already after ten years. This unusual policy is based on the recognition that according to various studies every year about two percent of all Coins will be lost. In addition, it is of the opinion that the constantly growing smaller, was the end of inflation as an incentive for the Miner, and thus for the stability of the network is necessary.
Grin, together with Beam of the first crypto-currencies, which are based on the MimbleWimble Protocol.
MimbleWimble eliminated addresses, and Transaction amounts
As previously BTC-ECHO reported, MimbleWimble, especially for the potential it offers in the area of privacy and scalability. The majority of the transaction data can be removed in the process, namely, without compromising the security of the Blockchain. A Blockchain with a size of 100 GB, can be a few Megabytes reduced. In addition, there are no addresses and the transaction totals will be encrypted, resulting in increased user privacy can be ensured.
Read also: Beam: New Privacy Coin on Mimblewimble-Protocol
What is the difference to the Beam?
If you change the Protocol on both of the Coins are based, and the common Launch month apart, could the two projects are very different. While Grin is pursuing an inflationary monetary policy, has decided to Beam a capping of the supply of Money. In addition, Grin operates on a donation basis, while the development team of Beam retains 20 percent of the Block reward.
The less technically savvy user have to wait, however, before they can pounce on Grin. At the present time, there is still no Wallet with a graphical user interface and no Version of the client for Windows users. In addition, there are hardly any exchanges that allow trading of Grin. The first Community-driven projects to close these gaps, however, are already in full swing.