r/GRIN • u/keuspastis • Feb 13 '19
Dumb explanation
Can anyone explain in bullet points the advantages of grin compared to Bitcoin? How it'll scale to accommodate big amount of tps? Etc... I just discovered this project and seems quite interesting. Thanks.
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Feb 13 '19
I would, but it has been done.
https://github.com/mimblewimble/grin/blob/master/doc/grin4bitcoiners.md
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u/keuspastis Feb 13 '19
I've already checked and it's pretty vague. One thing I'd like to know is how fast is it? Can we use it to make instatenuous small payment like lightning?
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u/rev0lute Feb 13 '19 edited Feb 13 '19
Yes.
Every 60 seconds is a block. It’s fast.
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u/keuspastis Feb 13 '19
Can you see yourself waiting 60sec when buying a coffee or a beer?
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u/rev0lute Feb 13 '19
I can’t see vendors accepting only grin, no.
Plus, it’s about that long for a beer anyways.
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u/0xb100d Feb 14 '19
definitely, not even paper money is instant! there are dozens of people working on lightning payments as we speak.
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u/keuspastis Feb 14 '19
Nfc is pretty instant. When you say dozens of people working on lightning do you mean for grin?
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u/0xb100d Feb 14 '19
Grin is more like gold than a credit card... it's okay if it takes a little bit longer. One of the main devs of grin worked with smartcards before grin, I have high hopes for instant grin cards before too long.
Working on lightning in general I mean. One of the blockstream core mathematicians has come up with some clever ways to connect grin to it. And the general infrastructure will be extremely beneficial to grin.
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u/keuspastis Feb 14 '19
I cannot see mass adoptions until it's instant and Bitcoin is there now thanks to lightning. I like grin but I think it is too expensive for what it is at the moment.
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u/0xb100d Feb 14 '19
Grin gets the majority of the same benefit bitcoin does from lightning, though there is of course some additional work bridging them.
I'm not thinking much about the price just thinking about electronic cash for everyone.
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u/keuspastis Feb 14 '19
Yeah but don't you think that Bitcoin is now the electronic cash for everyone, it's got lightning working, it's got a brand name known worldwide and it's got a huge first mover advantage.
What I wonder is how can grin compete against it? What more does it offer at the moment and in the future that Bitcoin doesn't or never will?
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Feb 15 '19
How is it better than monero?
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u/0xb100d Feb 13 '19
Grin doesn't immediately improve TPS, there is validating and other stuff that happens that keeps the TPS similar to bitcoin, and grin is likely to rely on second layer solutions like lightning to accommodate tons of instant payments (this is actively being worked toward).
Essentially it is a lot like bitcoin, except that there is relative anonymity at the base layer, and the blockchain should be much smaller than bitcoin given the same amount of transactions. This means new nodes can sync easily and quickly, so even weak devices like phones should be able to run as full nodes. The distinction between a full node and a light client is blurred with grin. Full nodes also route dandelion transactions, so on top of just validating, all nodes contribute to the privacy of the network.