Cryptos have received a massive beating during the end of 2018. The crypto bubble burst as expected. Alike the DOC.COM bubble. It seems that when a revolutionary technological breakthrough emerges, big money jumps on it like starving bees on a honeypot. The blockchain sparked the imagination of mostly unprotected investors and even more ignited another wave of greed. Some got rich quick, many others drowned, swallowed by whales. Will 2019 become the year of the resurrection of crypto? The year of finished products, apps, real use cases and blockchain improvements? Let’s look beyond the promises of team leaders, paid twitter campaigns and anything else that smells like a hype. This requires a nose to dive into the values and vision behind a product, some visionary skills and common analytical thinking. At the end of the day, let's stop focusing on bulls and bears, throw coinmarketcap out of the window and support the movement of decentralization by supporting the true technology projects of the future. Join me on a journey to discover the projects out there that are truly decentralized, have a solid value foundation and are creating real products that will change the lives of ordinary people.
Grin, the Gem of privacy coins?
The gossip went around on Reddit that Grandmaster of innovation, Thiel himself, invested in Grin through one of the funds that he invests in. What is Grin and what makes it special?
Grin coin is an implementation of the MimbleWimble protocol. Grin has the ambition to be the best scalable privacy coin with no addresses and no amounts. Because of these features, it is less storage intensive than other privacy coins and digital currencies. Its lightweight hashing makes it very scalable, but experts mention that this upside is a downside for privacy, the very thing it wants to guarantee.
When we look at Monero, this network has three mechanisms to ensure privacy: Stealth addresses, ring signatures, and confidential transactions. Grin only uses stealth addresses and confidential transactions. Second layer solutions like ValueShuffle will possibly be able to solve the lack of ring signatures in the future. Without Ring signatures, transaction analyses are easier. In the community, this lack of a third layer of privacy enforcement is not seen as a major flaw. It is a conscious choice to choose scalability first.
Ok, that’s the technical background of Grin, let's have a look at the values now. This is from the Grin website:
“ Grin empowers anyone to transact or save modern money without the fear of external control or oppression. Grin is designed for the decades to come, not just tomorrow. Grin wants to be usable by everyone, regardless of borders, culture, skills or access. “
From this statement, it is clear that Grin is putting forward a vision that lasts longer than the next successful Netflix original. They are clapped for in the crypto community for their clean and cool code. They are likely to survive the crypto winter because it’s a community driven project with not much fancy promises or glitter and shine, just like their funny website with the smiley. The base programming is appealing to the community, their GitHub has 109 contributors, they are skipping expensive blockchain developers altogether.
Grin appears to be a solid, grass root developed project that has gained in a short amount of time a lot of consensus in the crypto community. It has many elements that are the reverse of ICO bubble behaviour. It’s absolutely not the next fancy token with a hollow shell inside that once cracked open spreads the nasty overdue taste of greed. The strong foundation is to be found in the code that makes developers hearts jump a Satoshi second: According to crypto briefing:
It was built with passion, dedication, and love. The builders should be proud, it is a work of art. Simple, yet elegant. Concise, yet descriptive. Great implementation of a great idea.
Say no more, Grin is on its way
Author: Lucien Lecarme