Grin

Grin is an open-source cryptocurrency built around Mimblewimble, a blockchain design that hides payment amounts and allows transaction data to be combined. It launched on January 15, 2019. GRIN is the native currency used for payments and transaction fees. Volunteers develop the project, with donations supporting their work. Grin launched without an ICO, premine or founder's reward, and its monetary rules distribute new coins through mining.

Mimblewimble records cryptographic commitments in place of readable payment amounts. Nodes verify that inputs balance with outputs and fees without learning those amounts. Several transactions can be aggregated, and matching spent outputs and inputs can be removed through a process called cut-through. This reduces the data nodes must retain. Grin has no receiving addresses recorded on its blockchain, although wallets use addresses to communicate while building transactions.

Someone monitoring transactions as they spread between nodes can record which outputs a transaction spends before block aggregation. Grin's documentation acknowledges that this can reveal a transaction graph. Hidden amounts and the absence of on-chain addresses still limit what that graph says about ownership. Grin also uses Dandelion++ to relay transactions through a small sequence of peers before wider broadcast, which aims to make their originating network address harder to identify.

The sender and receiver both contribute data to a Grin transaction. Wallets exchange that data in a slate, which contains the information needed to construct and sign the payment. Slatepack packages the slate for transport. Compatible wallets can exchange it automatically over Tor or pass Slatepack messages manually. The participants can complete the manual exchange at different times. The transaction must be completed and broadcast before it can receive blockchain confirmations.

Grin issues 60 new GRIN per block and targets a block every 60 seconds. This produces an average issuance rate of one GRIN per second, with no fixed final supply cap or scheduled halvings. The same number of new coins represents a smaller percentage of the total as the supply grows. Miners use the Cuckatoo32+ proof-of-work algorithm, which is designed to accommodate specialized mining hardware.

Follow the Grin-specific instructions on the current NonLogs deposit or withdrawal page. Check which Slatepack step your wallet is waiting for and complete the required response or finalization. A pending exchange of messages can require action from a participant before the payment reaches the blockchain. Choose a GRIN pair from the markets below and select Trade to open its order book. Prices and volumes in the trading-pairs table below describe completed trades on NonLogs.