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Privacy Coin GRIN Is Victim of 51% Attack
According to 2miners. While the attack is underway, the protocol is warning users to wait for extra confirmations on transactions for payment finality.
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Grin (GRIN) Coin Review
Grin is a privacy cryptocurrency based on the MimbleWimble protocol whitepaper. Grin is an open source privacy cryptocurrency based on the MimbleWimble protocol whitepaper that officially launched on January 15, Grin seeks to fill in the gaps of the private and light weight MimbleWimble blockchain protocol in oder to deploy a fully functional Grin blockchain and cryptocurrency platform. The Grin cryptocurrency is made to be private, scalable, and open source. The Grin project is fully funded by donations, and did not hold an initial coin offering ICO , pre-mine, or founder's reward.
How to Mine Grin Coin, Step by Step (with Photos)
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Launched in January , the Grin project is built around the implementation of the Mimblewimble protocol. Its GRIN cryptocurrency aims to become a scalable and less storage-intensive privacy coin. Together with the recent launch of yet another implementation of Mimblewimble - Beam , the users are now faced with two seemingly similar solutions powered by the same blockchain protocol. While their creators claim that they are not focusing on competition , Beam and Grin share both similarities and differences and the best way to tell them apart is to recognize their individual goals, with those of Grin being these:.
Find out which wallet you need to manage your crypto
Appearing at the beginning of this year, the anonymous cryptocurrency Grin has immediately gained popularity, almost instantly overshadowing the competition. We will try to figure it out in this article. The story of the appearance of Grin is somewhat similar to that of popular altcoins Zcash and Dash. They all appeared as a proposal to scale the Bitcoin network. However, due to the complexity of the implementation, it was decided to launch a separate cryptocurrency.
How to Buy and Store Grin
In this guide, you will discover a step-by-step guide on how to mine Grin Coin in Launched on January 15, , privacy-centric project Grin has piqued the interest of the cryptocurrency community. The newcomer is noted for being the second implementation of the privacy and scalability-focused Mimblewimble technology. Published online by a pseudonymous inventor named Jedusor, Mimblewimble is an innovative blockchain implementation which supports a high level of privacy through its software. Users can obscure all details pertaining to the transactions and files sent over the network. Additionally, Mimblewimble is designed for scalability. The blockchain only requires ten percent of its data to effectively function.
In the Harry Potter books, the tongue-tying curse was a brilliant way to stump other wizards in a duel. The MimbleWimble curse, and its promise of silence, is part of the mysterious inspiration behind a new kind of blockchain technology that every fan of cryptocurrency is suddenly talking about. Besides its curiously compelling origins, it could hold a solution to something that many people see as one of the biggest limitations of Bitcoin and similar blockchains: the difficulty of keeping transactions truly private.
Based on blockchain technology, most cryptocurrencies have an open and public ledger of transactions. While this is required for these systems to work, it comes with a significant downside: Privacy is often quite limited. And not without success. This miniseries compares different privacycoins to the privacy offered by Bitcoin and to the privacy offered by other privacycoins. Now, two years later, two projects are close to realizing versions of the Mimblewimble protocol, which will be launched as separate cryptocurrencies. Similar to projects like Bitcoin and Monero, Grin will not be maintained by any specific company or foundation, nor will it do an ICO or anything of the sort; instead, the project accepts donations.
Grin coin is the first of its kind, a privacy coin application on the Mimblewimble blockchain , created with the Rust programming language. Rust is famous for its swiftness and scalability, which is why it is perfect for Grin and the Mimblewimble protocol. Mimblewimble itself is a new type of blockchain that guarantees privacy and offers enhanced scalability and speed over Bitcoin , which its supporters say it can supersede. Grin is the first currency on the Mimblewimble blockchain, and as dictated by Mimblewimble, Grin transactions can be merged and therefore purged of information such as addresses, amounts, and other identifying information. Blocks in Grin, like MimbleWimble itself, contain no transactions, with the block resembling one big transaction. Spent outputs in Grin can also be safely removed from the blockchain, allowing a drastically reduced blockchain size.
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