Editor’s note: This article from the chain catcher (ID:iqklbs), author: Hu Tao, editor: Gong Quanyu, the daily planet Odaily authorized reprint.
After long time, low-spirited depression weakness, block chain industry in the beginning of 19 years has finally ushered in the new project topic and innovation are Beam and Grin, which even become a large number of developers, in the eyes of the blockchain miners “bitcoin 2”.
In fact, Grin early in November 2016 was born, when many popular currency have to rely on, but the core members mostly anonymous, no ICO, no marketing and other reasons, until recently the main line was able to enter the public view. Compared to the bitcoin, total issued Grin no limit and keep linear supply, mining production currency speed constant, which means that Grin hopes to build an economic model of inflation.
At the same time, Grin adopts the POW mechanism consistent with bitcoin, but it does not support the mining algorithm in the initial ASIC algorithm, incentive card miners have become mining subject, in order to avoid the emergence of bitcoin is too focused on the situation of force. Greater adjustment is anonymity, privacy protection block chain Grin format using MimbleWimble encryption, hidden address and capital transaction data by ensuring traders homomorphism, complete anonymity and privacy in system security context.
From a certain extent, multiple mechanisms of Grin set with bitcoin early style imprint, emphasize fairness, privacy, community, has also been recognized and praised many block chain practitioners and bitcoin core developers. Bitcoin core development member Jameson said: “because the project is not to the founder of special treatment, this way is a kind of innovation, it is a punk spirit project with a password. “
The so-called punk spirit, originated in the UK in 70s some teenage band on the expression of social discontent rebel movement, and later extended to specific groups, rebel rebel against the traditional system, the meaning of life is boring and rebellious synonymous with antisocial tendencies and anarchism.
Jameson mentioned the cypherpunks as early as 1990s has appeared, created by a large number of scholars at the party and discussion in cryptography, the creator of bitcoin Nakamoto is also one of the early followers of the cypherpunks concept, they believe using encryption algorithm to ensure personal information security, anonymity and privacy. The password system against any government rules.
A block chain in the discourse system, the punk spirit undoubtedly has been given more meaning, the rise of Distributed Concept accounting, community autonomy, fairness and the center of the algorithm, such as the tendency of centralization, become the object of revolt.
In the early stage of the block chain was born, with the idealism of bitcoin projects is the best embodiment of the punk spirit: everyone can participate in the use of funds to ensure accounting, cryptography and transaction of anonymity, and can drive the rise of industry chain block.
But the block chain industry development path since the early developers beyond expectations, performance, supervision, the privilege of becoming a factor blockchain developers more attention to the center, and fair concept gradually faded aura of the original, bitcoin fundamentalists, this may mean that those things they are despised earlier this is a chain block erosion, disaster.
In the past year as an example, although bitcoin is undoubtedly the dominant industry chain blocks, but EOS, the wave field project has obviously become a party to the princes, yongcu is numerous, these new projects are using DPOS mechanism or its variants, ranging from dozens of super nodes hold billing rights, production block. At the same time in the development and operation aspects are actually by specific companies dominate, centralization is very serious, and even developers believe that EOS does not belong to the block chain project, but a centralized cloud computing mechanism.
From the industry environment, in recent years, ICO industry chain block popular speculation more than, derived from poor quality air tens of thousands of dollars, most of the blockchain practitioners may have real ideas behind the blockchain, the block chain is regarded as individual, team profit-making tools, largely deteriorate the ecosystem industry chain blocks, the currency market and bear is so deep.
Grin is the main line to such a point in time, full of disappointment and confusion in this period, all set Grin as the perfect fit with the blockchain developers early punk spirit, even more than bitcoin “hardcore” and “punk”, which not only attract many blockchain early developers participate in depth, has made many block chain practitioners themselves, and then become the block chain industry is the hottest topic and focus.
For the Grin development team, they think of Grin in large scale after the issuance of the value will be stabilized, users will be more willing to use rather than speculative hoarding, Grin will become a more suitable than bitcoin exchange for the value of low inflation monetary. So, Grin really want to challenge the bitcoin position? Grin, which in turn will affect the industry?
As most analysts have pointed out, because the Grin indefinite inflation mechanism, the miners will tend to sell mining to Grin and Grin, the long term price currency will maintain a downward trend, so Grin is not suitable for investors . In this case, the majority of investors will buy Grin lack of willingness to purchase will be the majority of users use the premise of Grin, in a competitive currency endless background, the popularization of Grin, the circulation time required will be greatly slowed, it become a universal payment currency assumption may be more distant.
Moreover, Grin strong anonymity characteristics may make it difficult to be accepted by the government . In contrast, although bitcoin has anonymity, but its transaction traceability weakens the effect of anonymous bitcoin, it is therefore recognized by some countries included in the scope of regulation for money or, it will be important to further expand the disadvantages of Grin in the future.
At present, Grin has become a part of the object of miners, developers and investors speculation, they urgently need new standard potential after bitcoin fell to an active market, the “Grin” hardcore temperament and their speculation demand agree without prior without previous consultation.
Although this is not a deliberate hype, but a spontaneous speculation, but formed a greater harm to the Grin itself, the price is already showing a rose fell trend, the decline of up to 97%, a large number of investors are stuck and become the victim of speculation.
With bitcoin prices plunge and questioned slowly crescendos, Grin, the boom is gradually subsided, but in the industry differences and disputes more and more large, Grin undoubtedly declared a burst of red this batch of developers on the block chain concept and adhere to the spirit of the early punk, and caused many practitioners to block chain technology development path and economic model of reflection.
From this point of view, regardless of how the future Grin project, its impact on the industry will be quite positive and significant. Block chain industry is now in urgent need of more “hardcore” block chain project, the urgent need for innovative technologies and models more, the only way to block chain industry really had the chance to walk out of predicament, ushered in the spring.