Privacy-oriented cryptocurrency Grin has been behaving like the behavior of subcoins in the cryptocurrency field lately. Grin investors are saving more money these days. Grin is trading at an all-time low of $1.98 since its release on January 2019, according to CoinMarketCap data. However, the foundations of the Grin Network seem to be strengthening. Unfortunately, the price for Grin investors is not increasing with the strengthening hash rate.
Grin is an application of the Mimblewimble protocol, designed to strengthen privacy and scalability for cryptocurrencies.
He’s not the only coin who uses Mimblewimble. The beam, which is often in position with Grin in the CoinMarketCap rankings, is based on the same protocol. According to Messari, the Beam Foundation behind the Beam protocol recently donated $10,000 worth of $10,000 to grin security control. Beam CEO Alexander Zaidelson told Messari:
“We have very good relations with Grin developers, and we often learn a lot from each other because we have similar problems.”
“Grin is better money. A lightweight implementation of a cryptocurrency that aims to be privacy preserving, scalable, and fair.”
— Web3 Summit (@web3summit) August 19, 2019
Litecoin founder Charlie Lee recently proposed integrating the Mimblewimble protocol for privacy and scalability. The cryptocurrency no. 5 has hired a Grin developer for a new and improved Litecoin design to support covert transactions. With popular crypto like Litecoin, which enters the Mimblewimble protocol, it is enough to raise the profile of the protocol and the coin associate to it.
Maybe then this subcoin cryptocurrency investors will sooner or later have something to make them smile.