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What is GRIN coin and how does it work?

by Financial Economy

Grin, one of the altcoins traded in the cryptocurrency market, is a brand new cryptocurrency project focused on privacy, scalability and exchangeability, briefly built by implementing a MimbleWimble protocol with various optimizations. Information about some topics that what is GRIN coin, how does it work, how to buy it, on which exchange, how much is it, its comments, its future, etc. is in continuation of the article. You can browse here for information about Selfkey (KEY) coin.

What is GRIN coin and how does it work?

Grin (GRIN) Coin is a cryptocurrency implemented by MimbleWimble, designed to provide privacy, tradability, and scalability. All its technical aspects are largely in line with MimbleWimble’s principles. To better understand Grin, attention should be paid to the consensus and monetary policy components. It implements a consensus policy with a Proof of Work (PoW) structure.

Although Tom Elvis Jedusor first proposed MimbleWimble in 2016, the idea has recently gained traction. Grin is the flagship project building a MimbleWimble blockchain from the ground up.

What is MimbleWimble?

MimbleWimble is a blockchain protocol introduced by Tom Elvis Jedusor in July 2016 and revised by Adam Poelstra a few months later, combining many innovative technologies to radically change the way Bitcoin transactions work and reduce the size of the blockchain.

What does Grin do?

Like its cryptocurrency counterparts Monero and Zcash, Grin’s goal is to keep your identity and financial history private as you join the network. Grin uses a Proof-of-Work algorithm called Cuckoo Cycle. It has a wide range of uses as it effectively limits its mining capabilities to memory rather than processing power.

GRIN coin reviews and future!

One of the altcoins, Grin token, has managed to attract attention with its project details. However, looking at its graph, it is seen that it has followed a horizontal course far behind its ATH for a long time. Due to the uncertainty and volatility in the cryptocurrency market, the future of coins is not very predictable.

Grin coin advantages and disadvantages!

Grin (GRIN) Coin advantages include:

  • MimbleWimble stands out in the industry as it is one of the few projects with a foundation.
  • Many privacy coins are advantageous because they don’t require you to transact anonymously.
  • Although there is no option to send public transactions with the MimbleWimble blockchain, the outputs are equal to the inputs of the transaction.

The disadvantages of Grin (GRIN) Coin are:

  • High competition: Competition is high in the privacy coin market as it has important competitors such as Monero and Zcash.
  • High volatility: It is more affected by the volatility in the cryptocurrency market as it is a low volume cryptocurrencies. Therefore, the price of GRIN coin may peak and crash in a short time.

Which exchange is GRIN coin on?

GRIN coin is listed on some cryptocurrency exchanges such as KuCoin, Gate.io, HitBTC, BKEX, AEX, etc.

How to buy GRIN coins?

GRIN coin can be purchased from listed cryptocurrency exchanges, like mentioned above. However, before trading, it is necessary to make sure that the exchange and the crypto project are “RELIABLE”. It is so important point for investors.

GRIN coin supply!

Total supply of GRIN coin is 98.212.860 GRIN.

GRIN coin price!

As of May 24, 2022, at the time of the writing, 1 GRIN coin price is around $0,11 (because of the volatility the price can change instantly).

Caution: The information contained in this content is for general informational purposes only. It is not investment advice.

For information about cryptocurrency: https://en.wikipedia.org/wiki/Cryptocurrency

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