GRIN, a new private and lightweight blockchain and crypto, launched its mainnet just a few days ago. In development since 2016, it uses the mimblewimble privacy protocol to hide where a newly created transaction comes from as well as the amount. No amounts, no addresses!
Since privacy is an important and popular feature among cypherpunks, it's no surprise that GRIN has peaked their interest.
GRIN is also free from any ICO, pre-mine, or founder's reward, mined from a genesis block just like BTC, XMR, NXS and other true digital currencies. It addresses scalability by getting rid of most of the transaction history and is completely open source to promote community development.
It's great deviation from maximalist ideals is that it has an unlimited supply which opens the cryptocurrency up to inflation.
“Grin will print 27million coins every year. It’s inflation rate will go from 400% in 3 months, to 100% in a year. Bitcoin inflation will go from around 3.8% now, to 1.8% in 2020.” said @hodlnaut.
The inflation should eventually decrease to 2% a year. Here is an informative forum discussion about it, including a document with the emission rate breakdown.
With 10.8k followers on twitter, and lots of buzz from prominent figures in the space, GRIN is definitely making a big splash compared to other altcoins.
So, what do you guys think? Are you a BTC maximalist who's mining GRIN? Will this monetary game theory fail even if the tech succeeds? Or is it just another flashy shitcoin?
😁 ~ Lady A