Grin and MimbleWimble are two separate entities that work together in the cryptocurrency/blockchain space. MimbleWimble is essentially a Blockchain that provides enhanced privacy, scalability and fungibility. This is accomplished through its effective cryptographic infrastructure. Grin the cryptocurrency operates within the MimbleWimble Blockchain and is an open-source software project. 

Initially the story of Grin and MimbleWimble is very interesting to say the least. A while back the project was introduced in a chat room where developers hang out on a daily basis. This individual was not very social. All they did was post a link which directed users to an unknown hosted website. This site introduced users to a PDF / White-paper which caught the attention of many people. MimbleWimble is often related to Harry Potter where a tongue tying spell is cursed. This curse “ties the targets tongue in a knot, preventing them from making coherent speech.” Many have stated the MimbleWimble white-paper is difficult to comprehend and makes numerous references to Harry Potter which is comedic to say the least. 

MimbleWimble and Grin caught the attention of many developers due to its infrastructure. With the way the project structures its cryptography, the Blockchain is able to enable an environment where transactions are private. Within this environment, it’s so private that you can’t even see who is transacting or the amount. Transactions on the MimbleWimble Blockchain are able to become verified without knowing these metrics. MimbleWimble essentially introduced a completely different Blockchain. It’s important to understand this concept can’t be applied to Bitcoin. MimbleWimble is much more private than Bitcoin due to the fact you can see transactions on the Bitcoin Blockchain. Within the BTC Blockchain you can easily see how much has been transacted quite frequently. We are entering an era where individuals value privacy. We have seen the issues we face as a society through entities like Facebook and other Tech giants who have access to all sorts of personal data. MimbleWimble interests the cryptocurrency environment because it adds that extra layer of security and privacy. MimbleWimble has been said to operate through “Elliptic Curve Cryptography” which has been researched for decades. 

GRIN Entering Bullish Mode?

GRIN has fallen substantially last year seeing a -77% sell-off. The chart below is comparing GRIN against BTC which has obviously fallen off a cliff with the outperformance of Bitcoin this year. GRIN recently experienced a hard-fork which had an effect on overall price. With GRINs bearish environment, could it be ready for a bull move? If we take a look at the chart below, we will start to see improving technicals. The reason for this is explained through the moving averages. As you can see, the moving averages are above to form a positive intersection upwards. Historically when these moving averages intersect to the upside, it could represent a change in sentiment from bearish to bullish. If we look at historical metrics on GRIN, we will quickly see this event has not happened in a very long time. We will see if there is any truth to this technical study. As of right now, it looks like bullish sentiment is coming in for GRIN, but as we know by now – anything can happen in crypto!  

Notice: Information contained herein is not and should not be construed as an offer, solicitation, or recommendation to buy or sell securities. The information has been obtained from sources we believe to be reliable; however no guarantee is made or implied with respect to its accuracy, timeliness, or completeness. Authors may own the crypto currency they discuss. The information and content are subject to change without notice. Visionary Financial and its affiliates do not provide investment, tax, legal or accounting advice. This material has been prepared for informational purposes only and is the opinion of the author, and is not intended to provide, and should not be relied on for, investment, tax, legal, accounting advice. You should consult your own investment, tax, legal and accounting advisors before engaging in any transaction. All content published by Visionary Financial is not an endorsement whatsoever. Please also visit our Privacy policy; disclaimer; and terms and conditions page for further information.

You May Also Like
Cryptocurrency Market Research

Cryptocurrency Market Research: Trends and Prospects on the Horizon

What Is Crypto Market Analysis? Crypto market analysis is the process of…

Bitcoin Jumps $5 Billion In Value After Goldman Sachs Criticism, What Price Levels Should You Watch?

During the last 24 hours, Bitcoins price has rallied +3%. BTC market…
Crypto Price Weekly Analysis 12/23: BTC, ETH, BNB, ADA

Crypto Price Weekly Analysis 6/17: ETH, BTC, SOL, DOGE

Without any doubt, it has been a hectic week for the crypto…
Voyager Digital Announces Assets Under Management Have Grown 20X YTD

Voyager Digital Grows Assets Under Management 20X YTD

Voyager Digital, a licensed crypto-asset broker, has announced that assets under management…

Telegram’s New Cryptocurrency (Gram): Pre-sale

It is no news that one of the top instant messaging platforms…
gary vaynerchuk

Gary Vaynerchuk To Speak At CoinGeek Live, Covering The Future of Blockchain

Gary Vaynerchuk, New York Times bestselling author, tech investor, and entrepreneur will…
central bank digital currency

Oneiro Using Cosmos For Its Central Bank Digital Currency Platform

Central banks around the globe continue to express interest in a central…
QuEST Global Signs Agreement With Microsoft

QuEST Global Signs Agreement With Microsoft To Explore Futuristic Technologies

On November 3, 2020, QuEST Global announced the launch of a Center…
Bitcoin Whales

How Many Bitcoins Do Bitcoin Whales Have?

Bitcoin has remained the largest cryptocurrency in the world, currently maintaining a…

Nexo Finance Rolls Out A New Lending Offering For Bitcoin & Ethereum, Now Offers Up To 10% Interest

Nexo, a leading player in the crypto lending sector, recently increased its…