Review on Grin by Danh Huỳnh Ngọc Công
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)
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Comments (1)
March 28, 2020
I like this coin, I think it will have great potential in the future !!
