Grin $GRIN

Grin coin stands out as a unique private and lightweight open source project, rooted in mimblewimble blockchain implementation. Proposed by an anonymous author in July 2016, this lightweight blockchain protocol has been gaining a substantial following from Bitcoin and privacy enthusiasts.

MimbleWimble: The Core of Grin coin

Unlike popular cryptocurrencies such as bitcoin or ethereum, Grin coin operates without any addresses. Transactions using Grin require both wallets to be online and communicating with each other, with the results broadcasted to the network. Notably, the transaction history, including sender, receiver, and amount, is not recorded on the blockchain. This approach ensures that the data size remains small, keeping the blockchain lightweight and facilitating new nodes to join the network without having to download a large blockchain.

A Fair Launch

Grin coin was introduced to the market without an Initial Coin Offering (ICO), fundraising, or pre-mine, a strategy deliberately implemented to ensure the coin distribution remains as fair as possible. Developers globally contribute openly to the project, further enhancing its fairness and openness.

Wallets for Grin Coin

There are two popular wallets available for interacting with the Grin network – the Grin core wallet and Wallet713, both enabling users to easily send and receive Grin coins.

The Mining Consensus Algorithm

Grin coin utilizes the Cuckoo Cycle proof-of-work consensus algorithm, involving two hashing algorithms. Cuckoo-29 is designed for GPU mining, while Cuckoo-31 is tailored for ASIC mining. This is a deliberate design aimed at encouraging miners to transition into ASIC mining for enhanced efficiency while maintaining fairness at the initial stages of the launch.

Mainnet Launch

The Grin coin mainnet was successfully launched on 15th January 2019 and is now available for mining and trading, marking a significant step in this unique crypto project's journey.