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416.5 Karma

Review on Grin by Danh Huỳnh Ngọc Công

Revainrating 4 out of 5

Grin - An Phenomenal Privacy Coin

Grin is a project that help to protect the privacy of its users. We can call the project a decentralized network as there is no CEO, no official team, and no capital investment. Besides, Grin is implemented with MimbleWimble algorithm - the core technology, making it a boom for a short time in the past. Although we can see some advantages of this project, there are still some drawbacks that make it not perfect



Pros
  • Grin is famous for a special mechanism for privacy called Mimblewimble which protects the information of transactions from the public but still enables the whole network to verify if they are valid or not
  • The blockchain is somehow just like Bitcoin as it's hosted no ICO and will never accept capital investment. This is a sign of true decentralization
  • The algorithm Cuckoo Cycle support the low-end gadgets to mine Grincoin so it will not be centralized
  • The nature of Grin blockchain only allows the storage of some essential data for proceeding verification; therefore, there should be no problem of scalability over the time
  • Its coin economy is good to prevent the inflation by reducing the emission of the coins by the time
  • There is no official development team behind the project, but there are some only some volunteers help working on the project
  • The volume is very high on many major exchanges
Cons
  • There are some drawbacks of PoW and one of them are the impact on the environment
  • Bad UX/UI is something that should be improved very much to attract users
  • There are many dominant competitors in the field of Grin
  • Block time is a little bit long (about 10 minutes)

Comments (1)

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March 28, 2020
I like this coin, I think it will have great potential in the future !!