We are excited to announce that CODEX is one of the very few cryptocurrency exchanges so far, where you can buy, store, sell and trade the Grin coin!
Grin Coin (GRIN) is a privacy coin that uses the Grin blockchain, an open source implementation of Mimblewimble protocol. Therefore, it is entirely anonymous and well scalable. GRIN cryptocurrency is set to present a new form of digital money - decentralized, immutable, lightweight and privacy-oriented.
Before introducing key facts about this unique cryptocurrency, let us first dig into its origins: the Grin project and Mimblewimble technology.
What is Grin Coin?
Grin (GRIN) is the new private and lightweight Mimblewimble blockchain.
Inspired by Greg's Maxwell concept of private transactions, it was supposed to be a BTC soft fork at first. However, because realizing it appeared to be hardly possible, an entirely new separate blockchain was designed. Openly developed by privacy enthusiasts and funded by supporters from all around the world, Grin is not controlled by any entity or individual. It was built to make digital transactions, free of censorship and restrictions, possible for all, despite expertise or geography.
There are no amounts as well as no addresses. To disguise the origin of a newly created transaction, it is being privately relayed among peers before being open to the public. Moreover, to protect itself from collapsing over the time, Grin eliminates most of the past transaction data.
However, what on earth is Mimblewimble, you might wonder...
What is MimbleWimble?
Mimblewimble is a goofy-named blockchain format and protocol that prevents blockchains from disclosing personal information. If you might have guessed, it was named after the spell that restrains from spilling secrets in Harry Potter books. Based on adamant cryptographic primitives, this technology allows for exceptional scalability, privacy, and fungibility. So by implementing the Mimblewimble protocol, Grin can finally fill the gaps in nearly all existing blockchain implementations. Lightning Network, Multi-signature transactions, Atomic swaps, Time-locked transactions, and outputs are some of the numerous solutions that have been introduced and/or implemented so far.
Grin Coin Key Features
- Privacy. This fundamental feature enables complete fungibility without precluding the ability to disclose information as needed selectively.
- Scalability. By scaling mainly with the number of users and hardly with the number of transactions, it is easy to save space, compared to other blockchains.
- Stark Cryptography. Mimblewimble protocol relies on proven Elliptic Curve Cryptography that ensures strong privacy and confidentiality.
- Simple Design. It allows easy audits and maintenance in the long run.
Grin Coin Price and Capitalization
Grin was built in a way that has a block every 60 seconds, and with every block, 60 new coins are minted. So a new coin will be minted nearly every second interminably. Hence, the emission of GRIN coins is unlimited. It is supposed to drive spending instead of HODLing and, therefore, facilitate the use of GRIN cryptocurrency as a medium of exchange and potentially create a wider wealth distribution.
According to Coingecko stats, the price of GRIN coin currently makes up $3.69, while its Market Cap equals $2,126,639.
Trade Grin Coin on CODEX
Available trading pairs
Already today, there are 2 of GRIN trading pairs available on CODEX cryptocurrency exchange: GRIN/BTC, GRIN/USDT. Don't miss your chance to obtain, store and gain from trading GRIN cryptocurrency at near-zero fees on the platform that was built to allow its users to make profits even throughout the bear market.
How to Withdraw Grin Coin?
To keep up with the maximum privacy and security Grin Coin proposes a different way of the coins personal storage. Grin Coin doesn't have a wallet address, thus any withdrawal from the exchange is made directly to you through your IP:P.
Bear in mind, to withdraw your coins from CODEX exchange you have to provide your IP:P and the amount you'd like to withdraw. After, we conduct your withdrawal manually. To receive GRIN coins your wallet should be available from outside of your LAN to connect to our wallet.
How to Deposit Grin Coin?
If you want to deposit your GRIN today, on January 23rd, press the "+" button near GRIN in the Balance tab. You will be directed to the support to open a new ticket. Our support will provide the necessary assistance to make a deposit.
Starting from January 24th you will be able to deposit GRIN in the Balance tab directly to grin.codex.one. You'll need to provide a Shared Transaction ID in the same window once you send coins and press the CLAIM button. Our support will deposit your GRIN ASAP.
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