Learned by 62 usersPublished on 2024.04.01 Last updated on 2024.10.15
Tokens
Introduction to GrinTokens
Grin is a token based on the Mimblewimble protocol, launched in early 2019. Its main features include:
Privacy Protection: Grin uses the Mimblewimble protocol, which provides a high level of privacy and scalability. The protocol conducts transactions using multi-signatures and "blind factors" sharing, thus avoiding the risk of specific information being exposed to the network.
No Pre-Mining or Pre-Sale: Grin has neither pre-mining nor pre-sale, which means the project team does not gain any additional profits, aligning more with the concept of "decentralization."
Linear Supply Schedule: Grin adopts a linear supply schedule, producing 60 tokens per minute, with no upper limit on total supply. This constant inflation monetary policy aims to make Grin a currency with relatively stable value, suitable for daily payments.
Anonymity in Development: The core development team of Grin is mostly anonymous, adding to the project's mystique and fairness.
Decentralization and Scalability: Grin is committed to protecting user privacy comprehensively while providing a scalable currency. It only stores a small amount of data on the blockchain, ensuring ease and low cost of running full nodes.
In summary, Grin is a token focused on privacy protection and decentralization, featuring a unique supply mechanism and anonymous development characteristics.
The founder of Grin is Ignotus Peverell, an anonymous individual who uses a pseudonym derived from the Harry Potter series.
According to available information, the following is related to the investment information for TokensGrin:
No other specific information was provided regarding which venture capitals invested in Grin, but mentions were made of the investment situation for Beam, including Node Capital, Source Code Capital, and other Chinese funds. However, this information is not directly related to Grin's investment.
Grin is a token based on the Mimblewimble protocol, featuring significant privacy protection and decentralization characteristics. Here’s how Grin operates:
Mimblewimble Protocol: Grin uses the Mimblewimble protocol to enhance transaction privacy. The protocol protects user privacy by merging transactions and hiding user identities.
Infinite Issuance Mechanism: Grin has no predefined coin supply; instead, it uses a mechanism known as "infinite issuance," generating a new Grin coin every minute, a model that will continue indefinitely.
Transaction Slicing: Grin further enhances its privacy by implementing "slicing" of transactions. This means that only the inputs and outputs of transactions are recorded, rather than detailed transaction amounts and address information.
Consensus Mechanism: Grin uses a Proof of Work (PoW) consensus mechanism, initially selecting the Cuckoo Cycle algorithm and introducing ASIC-friendly algorithms like Cukatoo31+ to avoid the 'hard forks' seen in Bitcoin.
Farm; Mine Process: The Farm; Mine process of Grin requires using a graphics card for computing. Users need to download and install the Grin Farm; Mine client and set up node and wallet monitoring windows to receive mined Grin tokens.
In conclusion, Grin offers a more private and efficient trading experience through features such as the Mimblewimble protocol, infinite issuance mechanism, transaction slicing, and PoW consensus mechanism.