GRIN, a cryptocurrency that utilizes the mimblewimble blockchain technology, has just gone live on their mainnet.
Named after a curse in the Harry Potter series, mimblewimble is a protocol that joins transactions together making them completely unencryptable.
The first sale of GRIN took place on the decentralized exchange known as, “Bisq”, for 0.01 BTC (approximately $0.72 USD)
What is Grin?
It is the second cryptocurrency utilizing mimblewimble to go live on mainnet, the first being created by an Israel-based startup known as Beam.
Grin has an unfixed monetary policy, issuing coins every one second. The idea behind this is to spur confidence in the coin as a currency, Yeastplume, the developer of GRIN, had said that he didn’t want to “unfairly reward early adopters with an arbitrary deflationary halving schedule.”
There is a large community supporting and watching the development of this privacy coin now that it has officially launched, but is it all hype? Likely.