Grin (GRIN) - Reviews & Ratings
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|Crypto Anonymous 186 rated: August 16, 2019 00:42:24|
Grin did a fair launch, no ICO or other shady stuff, has a huge team of open source developers (including serious blockchain developers). It's based on the Mimblewimble protocol (competitor building on the same protocol is the more commercial, more centralized Beam). Big drawback on Bitcoin is the fact that transactions and amounts are publicly visible on the blockchain, and it is becoming increasingly easy to do chain analyses and track users, especially with all the KYC by custodians and exchanges that expose a lot of addresses. Mimblewimble and with that Grin, is an innovative privacy focussed protocol that seems to solve that issue, because it has no amounts and no addresses, which could mean it has perhaps even more privacy than the current privacy champion Monero.
I don't think there is anything scammy or shady to be found about this project. It is now also more available on more mainstream exchanges such as Kucoin and even Poloniex.
A concern that I do have is the fact that if the technology for Grin is perfected, that (as far as I have understood it) it is very possible that the tech is easily integrated into bitcoin (perhaps via side-chain), giving bitcoin the privacy it now greatly lacks. In that case the value proposition for Grin coin itself would diminish substantially of course.
At the start of the Grin launch there were several controversial issues however, as described in this article: https://steemit.com/cryptocurrency/@cryptopigmedia/don-t-just-smile-grin-review-of-usdgrin-and-mimblewimble, however none of that was directly at fault of Grin:
- Before the first block was even mined, it was alleged that the coin was already trading on exchanges
- Price dropped more than 98% (from ~$261) in the first 24 hours of trading (artificial exchange volume?)
- Sirin Labs founder was scammed on an OTC deal on Telegram, trying to buy a large amount of Grin
However, since these early days controversies were not related to the project itself, we can dismiss those for our judgment.
Users should also be aware that unlike the fixed total supply of bitcoin, Grin has a perpetual inflation, which theoretically means an infinite supply. It should be noted that the inflation is a fixed amount per block and therefore the RELATIVE inflation will decrease over time gradually (and not in shocks such as bitcoin's halvings). Some hardcore crypto fundamentalists are allergic for such a feature, but to be honest, impo as soon as the inflation is lower than 1% per year, it already outperforms all fiat currencies. Reason for not choosing the fixed supply principle is that they want Grin to be more for transactions than as store of value (less HODL-ing); hopefully that doesn't turn out to be flawed thinking, but so far I am not negative towards this.
Understandably this coin is still in its early development, but a decent user friendly wallet with an interface suitable for average users is not available yet, which at this time is not helpful for the onboarding of users. But I guess we'll just need to be patient for this to happen, until then, actually using this coin is primarily for tech savvy users.
Last point is about the anonymity of the "founder" and absence of a CEO. For practically all projects that is otherwise the biggest red flag out there; in case of Mimblewimble I think that is actually a strong virtue. The strong extended open source developers community around this project, make it on development and "leadership" level very decentralized.
Honestly, I did an effort to dig up dirt about this project, but it is hard to find or even non-existent. This perhaps, besides bitcoin and a tiny few other coins, is part of the handful of truly honest, legitimate, really decentralized cryptocurrencies that actually deserve that title. Keep in mind though that pure fundamentally ethical projects do not automatically translate into profitable "investments". Grin/Mimblewimble still have a long way to go to establish and prove themselves and then somehow attract adoption; and a lot can go wrong along the way still. So don't stare blind on the fact that it is so highly respected, it is not automatically a guaranteed profitable speculation and definitely a more risky one than for example bitcoin (impo).
|Dr. Doom 209 rated: February 21, 2019 10:35:10|
Too bad it's an altcoin, would have loved to see this implemented directly onto bitcoin, perhaps as sidechain, but still this MimbleWimble technology could be a very important progress for crypto. Because this coin has a very similar grassroots development as bitcoin did and thus no premining, no airdrops, no ICO, A lot of backing from bitcoin developers too I def prefer Grin over its corporate version Beam. Developers receive donations for the project, which seems fair enough. Not easily available yet on exchanges so there is an improvement point, but that is probably bc this project is inherently not so well funded that it can afford listing fees which impo they shouldn't pay anyway. Maybe not the easy gains speculators coin, but long term fundamental perspective looks very promising. One of the very few projects that honestly deserve the not shady at all rating from my point of view
|Jason T. 109 rated: February 21, 2019 02:01:04|
Usually wouldn't give a project with anonymous founders a 0% shady rating but... here we go. Grin is based on the relatively new Mimblewimble protocol which offers unique scalability and privacy improvements on Bitcoin's UTXO model. Grin is the community implementation of MW. It had no pre-mine, no ICO, and no funding for the "founders". It was born just like Bitcoin! Anonymous founder who dropped a white-paper onto the internet. Now fair warning, just because I don't think it's shady doesn't mean that it's not a risky investment (the implementation may be flawed too, it's early, who knows?)