{"id":37273,"date":"2019-12-27T07:00:37","date_gmt":"2019-12-27T05:00:37","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=37273"},"modified":"2025-08-29T14:44:27","modified_gmt":"2025-08-29T11:44:27","slug":"what-is-grin","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/what-is-grin\/","title":{"rendered":"What is Grin?"},"content":{"rendered":"<div id=\"cards_wrapper\">\n<div class=\"single_card\">\n<p id=\"card_counter_1\" class=\"card_counter\"><span class=\"card_counter_span\">1<\/span><\/p>\n<p><strong>What is Grin?<\/strong><\/p>\n<\/div>\n<\/div>\n<blockquote>\n<div><strong>Attention! The article is outdated and requires an update.<\/strong><\/div>\n<\/blockquote>\n<div><\/div>\n<div id=\"cards_wrapper\">\n<div class=\"single_card\">\n<div class=\"card_description\">Grin is an open-source cryptocurrency built on the <a href=\"https:\/\/forklog.com\/en\/news\/what-is-mimblewimble\">MimbleWimble<\/a> protocol.<\/div>\n<\/div>\n<div class=\"single_card\">\n<p id=\"card_counter_2\" class=\"card_counter\"><span class=\"card_counter_span\">2<\/span><\/p>\n<p><strong>What are Grin\u2019s key features?<\/strong><\/p>\n<div class=\"card_description\">\n<ul>\n<li><b>Enhanced privacy:<\/b> elliptic-curve cryptography and a Pedersen commitment scheme enable opaque yet verifiable transactions.<\/li>\n<li><b>Blockchain:<\/b> small in size (~300 MB) and simple in design, it scales with the number of users rather than the number of transactions. The number of users equals the number of unspent outputs, so there is no need to include individual transaction data in every block. A block in Grin\u2019s blockchain consists of a header, a list of inputs after \u201ccut-through\u201d, a single kernel for the entire block, and a kernel for each individual transaction in the block. \u201cCut-through\u201d is the process of aggregating transaction inputs or outputs into a single set before they are added to the network. <b>MimbleWimble protocol<\/b> enables transaction verification while concealing user information and amounts.<\/li>\n<li><b>Launch:<\/b> Grin was launched without a premine or ICO. Developers do not receive a share of mining rewards. The project is funded by donations.<\/li>\n<li><b>Mining:<\/b> Cuckoo Cycle, Grin\u2019s PoW algorithm, is the simplest of known PoW algorithms and allows mining rewards to be distributed across device types, including ASICs and GPUs.<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<div class=\"single_card\">\n<p id=\"card_counter_3\" class=\"card_counter\"><span class=\"card_counter_span\">3<\/span><\/p>\n<p><strong>How does Grin work?<\/strong><\/p>\n<div class=\"card_description\">\n<p>The Grin protocol does not support scripts; it cannot run smart contracts or decentralised applications (dApps). At the same time, \u201cscriptless scripts\u201d allow for constructs such as multisignatures, atomic swaps and payment channels. Grin has unlimited issuance, but inflation decreases annually as the total number of coins in circulation grows.<\/p>\n<p>Until 20 January 2020, the inflation rate <a href=\"https:\/\/www.reddit.com\/r\/GRIN\/comments\/ai1nac\/grin_inflation_rate_for_those_asking\/\" target=\"_blank\" rel=\"noopener noreferrer\">will be<\/a> 7500%; in 2020\u201321 it will be 100%; in 2021\u201322, 50%; in 2022\u201322, 33%; in 2023, 25%; in 2024, 20%; in 2025, 17%; in 2026, 14%; in 2036, 5.6%; and in 2050, 3.1%.<\/p>\n<p>Addresses and amounts are hidden in transactions. Two transactions can be merged into one within a block\u2014the intermediate information is removed. Each Grin transaction consists of three components:<\/p>\n<ul>\n<li>A set of inputs that reference and spend previous outputs.<\/li>\n<li>A set of new outputs.<\/li>\n<li>A transaction kernel.<\/li>\n<\/ul>\n<p>Within this scheme, only the direct participants in a transaction can see its inputs and outputs. To anyone not directly involved, the inputs and outputs appear as a chaotic, meaningless data set.<\/p>\n<\/div>\n<\/div>\n<div class=\"single_card\">\n<p id=\"card_counter_4\" class=\"card_counter\"><span class=\"card_counter_span\">4<\/span><\/p>\n<p><strong>Who develops Grin?<\/strong><\/p>\n<div class=\"card_description\">\n<p>Development is led by a council of seven\/eight developers and numerous volunteers.<\/p>\n<p>According to the Grin repository on Github, since 2016 <a href=\"https:\/\/github.com\/mimblewimble\/grin\" target=\"_blank\" rel=\"noopener noreferrer\">141 developers have been involved<\/a>. Six people have made significant contributions to the project, two of them anonymously.<\/p>\n<div class=\"mceTemp\"><\/div>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-88195 aligncenter\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/image1-42-266x300.jpg\" alt=\"What is Grin?\" width=\"266\" height=\"300\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/image1-42-266x300.jpg 266w, https:\/\/forklog.com\/wp-content\/uploads\/image1-42-416x470.jpg 416w, https:\/\/forklog.com\/wp-content\/uploads\/image1-42.jpg 599w\" sizes=\"auto, (max-width: 266px) 100vw, 266px\" \/><\/p>\n<p style=\"text-align: center;\"><i>Some lead developers of the GRIN project<\/i><\/p>\n<p>The project has received donations from the Spark Pool and bminer mining pools, the Gate.io and Poloniex exchanges, and the Qtum project. Development costs are covered by the Grin General Fund (<a href=\"https:\/\/grin.mw\/fund\" target=\"_blank\" rel=\"noopener noreferrer\">Grin General Fund<\/a>). This fund is managed by the Grin Technical Council, and all spending decisions are public.<\/p>\n<p>Two donations of 50 BTC each stand out in the project\u2019s history of voluntary financial support.<\/p>\n<\/div>\n<\/div>\n<div class=\"single_card\">\n<p id=\"card_counter_5\" class=\"card_counter\"><span class=\"card_counter_span\">5<\/span><\/p>\n<p><strong>How are GRIN issued and stored?<\/strong><\/p>\n<div class=\"card_description\">\n<ul>\n<li>The network targets a block frequency of 1 block per minute.<\/li>\n<li>The block reward is 60 coins.<\/li>\n<li>The average emission rate will remain constant at 1 Grin per second.<\/li>\n<li>Users have access to the official Grin <a href=\"https:\/\/github.com\/mimblewimble\/grin\/releases\" target=\"_blank\" rel=\"noopener noreferrer\">wallet<\/a> and the <a href=\"https:\/\/github.com\/vault713\/wallet713\/releases\" target=\"_blank\" rel=\"noopener noreferrer\">Grin713<\/a> wallet based on the official one.<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<div class=\"single_card\">\n<p id=\"card_counter_6\" class=\"card_counter\"><span class=\"card_counter_span\">6<\/span><\/p>\n<p><strong>What are Grin\u2019s next goals?<\/strong><\/p>\n<div class=\"card_description\">\n<p>Commits to the project\u2019s centralised code repository (last 12 months):<img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-88196 aligncenter\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/image2-13-300x63.jpg\" alt=\"What is Grin?\" width=\"300\" height=\"63\" \/><\/p>\n<p>By the metric of overall development activity, Grin <a href=\"https:\/\/coincodecap.com\/project\/GRIN\" target=\"_blank\" rel=\"noopener noreferrer\">ranks<\/a> 35th among cryptocurrencies.<\/p>\n<p>According to the 2020 roadmap, developers <a href=\"https:\/\/www.grin-forum.org\/t\/grin2020-roadmap-calling-for-blog-posts-with-ideas\/6327\" target=\"_blank\" rel=\"noopener noreferrer\">intend<\/a> to focus on developing atomic swaps for off-chain transactions between bitcoin, Ethereum and Grin, and to implement the Lightning Network.<\/p>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Grin is an open-source cryptocurrency built on MimbleWimble. It emphasises enhanced privacy, a compact blockchain that scales with users, a donation-funded launch without a premine or ICO, and mining via the Cuckoo Cycle PoW algorithm.<\/p>\n","protected":false},"author":1,"featured_media":37274,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"2","_short_excerpt_text":"An overview of Grin, a privacy-focused cryptocurrency based on MimbleWimble.","creation_source":"human_written","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[2113],"tags":[2117,2120,2019,561],"class_list":["post-37273","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptorium","tag-101-altcoins","tag-101-anonymity","tag-grin-cryptocurrency","tag-mimblewimble"],"aioseo_notices":[],"amp_enabled":true,"views":"63","promo_type":"1","layout_type":"1","short_excerpt":"An overview of Grin, a privacy-focused cryptocurrency based on MimbleWimble.","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/37273","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=37273"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/37273\/revisions"}],"predecessor-version":[{"id":37275,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/37273\/revisions\/37275"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/37274"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=37273"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=37273"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=37273"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}