Grin, the much renowned privacy-centric virtual asset is concluding its timeline for its 1st ever network hard fork, as per a proposed timeline uploaded by Quentin Le Sceller, Grin core developer, to Github dev community forum Gitter on June 5.
It is to be noted that Grin is a privacy coin that put into practice privacy and scalability-focused Mimblewimble protocol. Interestingly, Grin is named after a imaginary tongue-tying curse from the well-liked Harry Potter novels.
Precisely, Mimblewimble is in part a metamorphosis of the cryptographic protocol called Confidential Transactions. It essentially permits for transactions to be obfuscated yet verifiable so as to attain both intensified privacy and the avoidance of double spending.
Notably, the network’s 1st hard fork, since its launch in mid-January of this year, is one of 4 system-wide upgrades scheduled for the first 2 years of the coin’s circulation. Each hard fork is set for around 6 month intervals.
It is to be noted that Grin uses a strategy of frequent tweaking to one of its 2 POW algorithms, as part of its ASIC-resistance roadmap. The impending hard fork corresponds to the 1st such tweak that intends to make certain the system stays opposed to to mining that uses specialized hardware over the long term.
According to the previous reports, ASIC means mining hardware that uses application-specific integrated circuit chips. These are tailored to efficiently mine virtual assets based on a specific hashing algorithm.
In the intervening time, set-ups that use GPUs are less specialized, and have ostensibly to date struggled to compete for network rewards due to their decreased efficiency.