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The GRIN project is one of the two main applications of the MimbleWimble protocol (with BEAM). On July 16, GRIN will be entering a new version by means of a hard fork, here is a small summary on the subject.
The third GRIN update in sight!
After two successful first hard forks, GRIN will soon have a new update which will bring the network to version 4.0.0.
This hard fork will take place at block 786240, around July 16 - at the time of writing, the GRIN blockchain is at block N ° 752 306.
This update will see a new adjustment to the CuckARoo algorithm based on Proof of Work (PoW). This change is made to discourage the predominant use of specialized mining machines, such as ASICs. This change should therefore offer better profitability to “handcrafted” machines, made from graphics cards (GPU).
It is therefore essential for GRIN miners to properly update their mining software after the hard fork, so that it remains accountable with the new PoW algorithm.
This hard fork must also bring the first elements (called “relative locked kernels”) which will allow to implement payment channels on the network on GRIN - a bit like the payment channels that exist on the Bitcoin Lightning Network.
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Call for funding from one of the main developers
However, to make this new update run as smoothly as the previous two, GRIN developer Daniel Lehnberg has made a request to renew his work funding for the project.
The GRIN teams are made up of independent developers, and Daniel Lehnberg's previous funding (for three months) ends in June. He therefore called for the renewal of the $2,500 per month of aid granted to him to finance his work, and this, until next September.
His request will no doubt be approved at the next GRIN governance meeting, which should take place on June 30, 2020.
Like the BEAM project, which is set to experience a hard fork on June 28, GRIN continues to progress in implementing the MimbleWimble protocol. The latter, focused on transaction confidentiality, provides better protection of the privacy of its users.
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