A Simple Introduction to Mimblewimble, BEAM, and GRIN

Mimblewimble is a long awaited cryptocurrency protocol. It’s a sort of stripped down Bitcoin protocol with a focus on privacy, efficiency, and scalability. Key coins include GRIN and BEAM.[1][2][3]

Check out the Mimblewimble white paper (written in 2016).

Mimblewimble has got a lot of organic attention in the chatrooms and forums across the internet over the years, and its promises attracted many in the mining and development community (who were attracted to its tech), which eventually got some big players involved.

Fast forward to 2019 and there is now some Mimblewimble-based coins built.

These include but are not limited to BEAM and GRIN (BEAM launched first in early January 2019, followed by GRIN shortly after).

Meanwhile, competitors are rapidly coming to the table trying to improve on BEAM and GRIN (or at least ride their coattails).

In short, there is a sort of race to be “the Mimblewimble coin.”

Right now the exchanges that Mimblewimble-based coins are on are very limited, and prices are volatile (GRIN is a good example).

Also, while mining is an option, many miners were waiting to mine the second the coins went live, so the competition is already there.

That said, if a Mimblewimble-based coin takes off, and you manage to pick the right one at the right price, you could be well positioned for the future.

I’ll write some more in-depth articles in the future, just wanted to offer the gist for now.

NOTE: There are a notes to cover about BEAM and GRIN. 1. some complained both were “VC coins” since some VC money went into mining rigs and development, 2. GRIN choose to create monetary policy which results in new Grin being printed at the same rate forever (meaning it is an inflationary currency in terms of the money supply), 3. Mimblewimble is open source, which means ultimately none of the Mimblewimble-based coins today could be the ones that take off.

Learn more: There is a ton to learn about Mimblewimble-based coins. Check out the in-depth articles below for a look into BEAM, GRIN, and Mimblewimble to understand why people are stoked, and to why people are skeptical of some aspects (like GRIN’s monetary policy) or BEAM’s “VC money.”

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Citations

  1. Mimblewimble Explained. MyCryptopedia.com.
  2. What is Grin Coin & MimbleWimble? Complete Beginner’s Guide. Blockonomi.com.
  3. What is the BEAM Coin? Mimblewimble & Grin vs Beam.Blockonomi.com.


"Quick Introduction to Mimblewimble" contains information about the following Cryptocurrencies:

Mimblewimble Coins

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