What is a Grin Coin (GRIN)? Complete set of virtual currencies GRIN

By Le Anh | Coins & Tokens

Grin Coin (GRIN)

Sequence of articles about Coin and Token Of the Coin98, today, let's find out about Grin Coin (GRIN)!

Let's start!

Grin Coin (symbol: GRIN) is a cryptocurrency focusing on anonymity implemented on Mimblewimble protocol.

Grin Coin (GRIN) does not conduct an ICO, do not have a Pre-Mine, and have no founder.

The mainnet of Grin Coin (GRIN) was completed on January 15, 01.

Useful for you: What is Mimblewimble?

What is the Grin Coin (GRIN)?

Private

With the use of Mimblewimble protocol, GRIN will not display the number, address of sender and recipient wallet when the transaction is made. From there, will ensure privacy and anonymity for users.

Scalable

The Grin Blockchain stores only unspent outputs and a small Kernel for each transaction in a block. From there, help each block have more space to store data.

Open

Grin is developed by many developers around the world. Grin is not controlled by any individual, organization or company.

Basic information about Grin Coin (GRIN)

  • Ticker: GRIN
  • Type: Coin, Mineable
  • Blockchain: Grin Blockchain
  • Consensus: Proof of Work (PoW)
  • Algorithm: Cuckoo Cycle
  • Block time: 60 seconds
  • Block reward: 60 GRIN
  • Avg. Transaction Time: 10 TPS
  • Total supply: Unlimited.
  • Circulating supply: 13,889,820 GRIN

Grin Coin Rate (GRIN) today

What is the Grin Coin (GRIN) used for?

Grin Coin (GRIN) has 3 main functions in Grin Blockchain, including:

Block Rewards

GRIN is used as a block reward for miners to ensure the robustness of the network.

Currently, 60 GRINs are generated every minute. If calculated, after 1 year will generate 31.536.000 GRIN (too much).

The inflation rate will gradually decrease according to the number of GRIN in the market and after 10 years, the inflation rate will decrease to 10%, after 25 years it will decrease to 4%.

You can refer to the monetary policy of GRIN here.

Gas Fees

GRIN is used to pay transaction fees in the Grin Blockchain. This is also a benefit for miners to help the transaction be confirmed and completed.

Payments

Like Bitcoin, GRIN has a payment or exchange function, but in an anonymous way.

How to mine Grin Coin (GRIN)?

Grin Coin (GRIN) uses Cuckoo Cycle algorithm instead of SHA256 like Bitcoin.

Using Cuckoo Cycle algorithm, Grin will have 2 algorithm versions:

  • CuckARoo (CR-29) is resistant to ASIC miners and supports digging with a 6GB + GPU device.
  • CuckAToo (CT-31) supports GRIN training with ASIC. However, you can also dig with 11GB + GPUs

With the original plan, GRIN will allow GPU mining to account for 90% and ASIC 10%.

Currently, this percentage will gradually change until 100% of the GRIN is mined by an ASIC for 2 years.

If you are interested in mining GRIN, please refer to: Detailed instructions on how to dig GRIN from CoinGecko here.

The wallet stores Grin Coin (GRIN) securely

Not like the brother BEAM Grin currently only develops storage wallets that require a lot of code, making it very difficult for users.

Therefore, if you want to store GRIN, you can consider hosting on reputable exchanges that have allowed to buy and sell GRIN.

However, be careful because the floor can be hacked and your GRIN number can be hacked.

Grin Coin Exchange (GRIN)

Grin Coin (GRIN) was listed on Bitsq on the first day of launch. Then with a series of other exchanges that support listing GRIN like Poloniex, Bittrex, KuCoin, Bibox…etc.

With a trading volume of more than $ 50 million within 24 hours, GRIN is showing its liquidity is very good.

In particular, GRIN is being traded and traded mainly on Hotbit, accounting for 54,45% of the total trading volume.

Future of Grin Coin (GRIN)

In fact, Grin Coin (GRIN) does not exist a subject to direct the project but empower the community, just like the eldest Bitcoin.

That makes it harder to judge the future from Grin's activities.

Some points you can refer to GRIN evaluation part 1:

Hard Fork

On July 17, 07, GRIN will conduct its first hard fork. Notice you can see here.

Competitors

GRIN is an anonymous coin, so it will compete with seniors like Monero, Zcash, Zcoin ....

Project potential

The potential for Privacy Coin in the next few years is likely to increase sharply as users will have to pay attention to the privacy of their assets.

In addition, GRIN has not been listed on other big exchanges like Binance, Upbit.

Weakness

  • Without a leader, it is very easy to deviate from the original goal of the project.
  • The inflation rate in the first 10 years is quite high & unlimited supply.
  • Still not used much, so you will see nature is just speculation is the main.

Should we invest in Grin Coin (GRIN)?

Through this article, I and the team Coin98 has packed the most necessary information about the hottest coin in early 2019, Grin Coin (GRIN).

With the information provided in the article. Hope to help you have more data to make an accurate investment decision.

Coin98 will continue to monitor and update the latest information about this project.

Disclaimer: The article is intended to provide information about Grin Coin (GRIN) and is not considered investment advice. Invest Cryptocurrency is a form of risky investment, you only participate with capital that can be lost.

summary

Apparently, GRIN is not performing very well compared to its brother Beam Coin (BEAM).

However, GRIN still has many opportunities and challenges to express itself in the near future. When the demand for privacy coin / privacy assets of many people increases.

Do you think GRIN will become the number one anonymous currency in a few years?

Please share your opinions in the comment section or at Coin98 Research Group!

Hello and see you again in the upcoming article!

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