A Nimbler, More Private Version of Bitcoin

These are the show notes for an episode of the Unchained podcast featuring the cryptocurrency Grin. Listen to the episode on Unchainedpodcast.com, or on Apple Podcasts, Spotify, Google Play, Pandora, Soundcloud, TuneIn, iHeart, Overcast, Stitcher, and many other platforms. 

The origin story of Bitcoin is part of its appeal: an anonymous creator designs a currency and then vanishes — leaving behind mountains of digital gold, untouched.

That seemingly selfless act has made a near-religion out of Bitcoin and helped set it apart from the many other cryptocurrencies that have been spawned since.

A recently launched cryptocurrency has a similar allure.

The technology it’s based on was proposed in a white paper posted in the Bitcoin Wizards IRC chat by a programmer named Tom Elvis Jedusor (the French name for the villain Voldemort from Harry Potter series), who then vanished. Their proposal? A protocol called Mimblewimble, named for the tongue-tying curse in Harry Potter.

Afterward, another Harry-Potter-named anonymous developer, Ignotus Peverell, proposed the first cryptocurrency based on this technology, Grin.

Grin cryptocurrency

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Launched in January, Grin went live as similarly to Bitcoin as possible in an era when the hot new cryptocurrency usually mints a few new cryptomillionaires along with the first coins. It did not set aside tokens for the developers at that time, nor in any regular manner going forward, and none were pre-mined or created before the public had access to them. This philosophy  was “a breath of fresh air” said, Daniel Lehnberg, one of the core team members, on the most recent episode of Unchained.

“It’s been a completely open source project by the community and funded by the community as well — any development funding received has been based on donations. There’s been no ICO, no pre-mine, no dev tax, there’s no anything that allocates funds through the protocol layer to the…

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