The crypto market was born from cypherpunks hoping to disrupt the present monopoly over finance, and supply the world extra choices that favored privateness and freedom. Bitcoin was the primary of its variety, however many altcoin tasks have since adopted that hold the unique targets of cypherpunks sturdy.
An early Bitcoin adopter, pushed by the additional pursuit of bringing privateness and freedom to the crypto market, has made a sizeable donation in Bitcoin to the privacy-centric altcoin, Grin.
Early Bitcoin Whale Donates 50 BTC to Privateness Altcoin Venture
This week, Grin Product Supervisor Daniel Lehnberg revealed on the official forums of the Grin altcoin project that that they had acquired a large donation originating from an early Bitcoin adopter and cypherpunk, in assist of the undertaking.
Grin’s Normal Fund acquired a donation of 50 BTC from a donor who needs to stay nameless, together with a word from the donor.
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The donor says that Grin makes them really feel prefer it’s 2009 or 2010 as soon as once more, possible referencing when Bitcoin first was launched into the wild and hope was nonetheless contemporary and younger. The donor claims their motives are solely about pushing the know-how and altcoin’s protocol ahead and ask the Grin group to place the donation “to good use for the event of GRIN.”
The blockchain knowledge means that the account related to the 50 BTC donation dates again to 2010, suggesting that the donor is among the many earliest adopters of Bitcoin and cryptocurrencies, and is assumed to be an early cypherpunk.
Yet another 50 btc donation to Grin, this time a coinbase from 2010 https://t.co/JXkTJ78lVB https://t.co/JhyQOCh3We
— hashmap (@hashmap) November 11, 2019
Whoever they’re, they’re supporting Grin financially, and seem like utilizing their funds to try to push crypto as a know-how even additional by means of the altcoin. Since they requested to stay nameless, privateness is clearly a subject of concern for the donor, which might be partially why they chose Grin as a undertaking they’d prefer to assist.
What Precisely Is Grin?
Grin is a comparatively new altcoin, first launching in January of this 12 months. Grin is a censorship-resistance, privacy-focused crypto undertaking, that makes use of the mimblewimble blockchain.
Like Bitcoin, no entity controls or owns Grin, and its growth is supported by the donations of others just like the early Bitcoin whale or by means of the gross sales of associated merchandise created by the present volunteer dev group.
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Grin is a proof-of-work cryptocurrency, with every block reward providing miners 60 Grin for every block validated. There wasn’t an ICO or pre-mine, and as a substitute, the altcoin’s distribution started with the mining of the undertaking’s genesis block very similar to Bitcoin.
The place it differs from Bitcoin, is within the truth there are not any addresses on the Grin blockchain, enabling confidential transactions that obscure possession and any quantities transferred.
Featured picture from Shutterstock
