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Grin cryptocurrency focused on privacy is ridiculed for its first setbacks by the Crypto community

Grin cryptocurrency focused on privacy is ridiculed for its first setbacks by the Crypto community

The cryptocurrency Grin, recently launched on privacy, has been criticized and accused of having committed an error. The controversies surrounding this continue to grow after being launched only a few days ago. According to Primitive Ventures' founding partner, Dovey Wan, Grin's trading volume is greater than its total offer.

According to her, this shows that centralized exchanges can simply print more Bitcoins from scratch without necessarily having the funds to support them.

Dovey Wan explains that there are some centralized exchanges that started trading Grin even before the coin was minted. These digital activities were quoting volumes that were much higher than the actual supply of this digital asset.

As Wan explains, Grin's inflation program is calculable and requires 1440 confirmation blocks for the maturity of the Coinbase prize. Prior to this, it is not possible to spend Coinbase's output.

He went on to say that centralized exchanges are a black box that nobody knows if their internal book can be synchronized on the chain. This digital currency has implemented the Mimblewimble technology that enhances user privacy. This version is very important for the crypto community because the technology has been tested since 2016. Now it is the first time that it is ready for commercial use.

Another thing that struck Grin is the fact that his price went from $ 261 to about $ 6.6 in a few days. This crypt has a different supply than other coins that have limited their issue. Almost every second a new currency is created.

At the moment, there are several digital currency exchanges that offer this virtual currency, including Bibox, CoinEgg, BigONE, MXC and BitForex. There are other data mining pools that could allow users to extract this digital resource.

The digital asset is allowing new experiments. The Mimblewimble technology will change the way some virtual currencies behave. In the future, there may be other coins that implement this technology. Currently, the controversy that Grin is experiencing is damaging the project and could not be positive for the future of this resource.

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