What Is GRIN?
Also known as: Grin, Grin Coin, Grin MimbleWimble
In short
GRIN is a privacy- and scalability-focused cryptocurrency based on the MimbleWimble protocol, secured by Proof of Work and launched by the community in 2019 with no presale or founder allocation.
On Grin, transaction amounts are hidden with the confidential transactions technique and there are no permanent addresses on the chain as there are on Bitcoin. Thanks to MimbleWimble's cut-through feature, spent transaction outputs can be pruned from the chain; this keeps the blockchain's size small compared with chains that have a similar number of transactions. Transactions are interactive: the sender and recipient must build the transaction together, which makes the user experience different from other cryptocurrencies.
Grin's monetary policy is also unusual. There is no maximum supply cap; roughly one block is produced every minute and 60 GRIN is minted in each block. Thus a constant issuance of about one GRIN per second continues indefinitely; because the absolute increase in supply stays constant, the annual inflation rate in percentage terms declines over time. Mining is done with algorithms from the Cuckoo Cycle family.
The project is run by volunteer developers and donations rather than a company. Regulatory pressure on privacy coins, limited exchange access, and the complexity of the interactive transaction model are counted among the main challenges Grin faces.
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