Unchained Grin: A More Private, Lighter Bitcoin - Ep.114
Apr 9, 2019
Daniel Lehnberg and Michael Cordner, core members of Grin developing the MimbleWimble protocol, dive into the philosophy and privacy enhancements of Grin, a cryptocurrency aiming to be lightweight and community-driven. They discuss Grin's perpetual inflation model and its ambitions as digital cash, contrasting it with Bitcoin's fixed supply. The duo also highlights innovative transaction methods that prioritize anonymity and explores Grin's unique governance and funding model, emphasizing community engagement and transparency.
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Grin, Fungibility, and Regulatory Scrutiny
- Grin prioritizes fungibility to avoid issues like Bitcoin's tainted coin problem, where transaction history affects value.
- Regulators' requirement of analyzing Bitcoin deposits creates a "credit score" for money, impacting fungibility.
Grin's Community-Driven Ethos
- Grin's philosophy emphasizes community-driven development, open-source code, and a fair launch.
- There was no ICO, pre-mine, or dev tax, ensuring equal opportunity for participation.
Grin's Emission Schedule and Medium of Exchange Goal
- Grin's emission schedule, one grin per second forever, aims to promote usage as a medium of exchange.
- While seemingly different, Grin's constant inflation has a similar effect to Bitcoin's halvings over time.