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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Mysterious Origins of Mimblewimble
- Mimblewimble's name comes from a Harry Potter tongue-tying curse, reflecting its privacy focus.
- A mysterious figure, "Tom Elvis Jedusor," introduced the Mimblewimble protocol and then disappeared.
Grin's Lightweight Design
- Grin aims to be lightweight and minimally prescriptive, focusing on core Mimblewimble principles.
- It prioritizes efficient transaction verification without storing the entire blockchain history.
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.