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Review on Grin by Gabriel Medina

Project based on anonymity and privacy with MimbleWimble protocol

Grin is a MimbleWimble cryptocurrency made to provide the same features as MimbleWimble, namely scalability, fungibility, and privacy. In Grin there are no addresses, transaction amounts and allows the combination of transactions so that unnecessary information is eliminated.

The mission of this protocol is to build a totally anonymous blockchain, much more scalable, private and lightweight.

Grin has multiple objectives that it wants to meet, which are:

  1. Privacy: It is based on the fact that privacy should be a right and not a privilege. It gets rid of the need to keep a record of the addresses and amounts in the operations carried out.
  2. Scalability: Thanks to the MimbleWimble protocol, the entire blockchain can be stored, downloaded and verified with a few GB. Allows you to delete data from past transactions.
  3. Accessibility, decentralization and openness: Grin is based on the open source philosophy, where no one in particular has power or direction of the project. Likewise, mining and the distribution of currencies are under the order of equity and decentralization. Development is in the hands of the community.

Grin also has unique characteristics that position it high in the ecosystem and allow it to meet its objectives as a cryptocurrency. Let's see what they are:

  1. High privacy: Through the MimbleWimble protocol, the cryptocurrency provides and guarantees privacy to users.
  2. Scalability: Scale based on the number of users in parallel.
  3. Organic Launch: The project works thanks to donations from the community and a committed team. It was launched without previous mining, nor ICO in addition.
  4. Decentralization: It is not governed by any particular organization or individual.
  5. Transactional: Its blockchain cannot be used for the development of smart contracts or decentralized applications.

Projects that focus on privacy and anonymity tend to have a cryptocurrency essence. Community-driven decentralization is part of the original soul of cryptocurrencies. The MimbleWimble protocol brings privacy and scalability to the Grin project.

Pros & cons

  • Privacy by default that will allow us complete fungibility.
  • Driven by the community and thus promoting decentralization.
  • It follows the MimbleWimble protocol which has excellent scaling and anonymity features.
  • Relatively fast lock time (one minute).
  • Investors are not accepted. You want to stay away from that and avoid manipulating your development.
  • There are no rewards for creators.