Grin coin (GRIN), the privacy-based crypto founded by Ignotus Peverell (no relations to Harry Potter), on November 11 received 50 Bitcoin (BTC) donation worth more than $400,000 to their wallet by from an anonymous supporter.
Who donated the 50 Bitcoins to Grin?
At the time of this writing, no one knows; not even the people at Grin. However, after the large Bitcoin donation was announced by company, rumors started circulating that Satoshi Nakamoto; the alleged creator of first digital asset made it.
The donation was made using a wallet on Coinbase; the popular beginners’ friendly crypto exchange knowing for its ease-of-use and strong security. The donors attached a note to the transaction expressing his or her wish to remain anonymous.
Reason(s) behind the large Grin BTC donation?
In the note, the donor expressed his desire to see the people at Grin privacy coin work “without dependency.”
“Our motives are not economical! It’s about the technology and the protocol. Please put it to good use for the development of GRIN. You keep working as you did in the past […] This is what we are honouring right now with these donations so that you can work freely […] without economic dependencies.”
Reading the statement, a number of popular cryptocurrency news sites and media outlets began to spread the theory that Satoshi Nakomoto was behind the donation.
Charlie Lee, the founder of Litecoin (LTC) endorsed the theory by sharing on a Telegram group chat with the claim that the donated Bitcoin were mined 2010.
The BTC were then sent from a BTC wallet that has not been active for more than 9 years; fueling further that Nakamoto is indeed the donor. Lee has since tweeted that the post was simply a ‘joke.”
No, that was just a joke.
— Charlie Lee [LTC⚡] (@SatoshiLite) November 13, 2019
What is Grin Coin?
Grin is a privacy-based coin with its main focus on scalability, privacy and Mimblewimble protocol. The name is taken from one of Harry Potter’s popular characters. Mimblewimble is a form of cryptographic protocol know as Confidential Transactions.
Grin coin experienced its first hard fork earlier this summer. The main purpose of the hard-fork was to tweak the system’s consensus algorithm to make the privacy coin harder to be minted by miners.
What are your thoughts on the rumors Satoshi Nakamoto made the 50 Bitcoin donation to Grin privacy coin?
Mathieu is a Information technology professional with over 15 years of experience. He started one of the first bitcoin blogs existed in 2010. He started writing about, investing in bitcoin and promoting the first cryptocurrency when only a few technological savvy people knew about it. Mathieu is a world traveler who enjoys culture, technology, finance, salmon, rice and beans. He’s cool, collected and knows a great deal about blockchain technology.