Review on Grin by Olgay Neke
Grin Coin: Anonymity or Fiasco?
Grin Coin focuses on the privacy and scalability of the blockchain. It based on Mimblewimble protocol, which has a new approach to the blockchain-based ledger. However, it only utilizes typically intended operations for Bitcoin and increase the privacy of transactions.
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The recent tragedy happened weeks ago. Grin privacy model had a massive technical breakdown and attacked to reveal addresses with information of almost all of the GRIN transactions.
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It took my attention that the project recently got a 50 BTC donation from early Bitcoin whale and managed to fund the operation anonymously. This part of the topic is a concern for the donor. The GRIN team likely relies on that fund to rebuild what left from the attack and prevent further attempts.
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I must agree that the world needs this privacy and truly fungible coin, especially after now that BTC is their primary investment.
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Pros
- Focuses on the privacy of the blockchain. It based on Mimblewimble protocol.
- Got a 50 BTC donation from a Bitcoin whale and managed to fund the operation.
- Fungible coin.
Cons
- Recent tragedy, massive technical breakdown.
- Attacked to reveal addresses with information of almost all of the GRIN transactions.
