Tale of Two Coins - Reading Assignment

Privacy Coins - Ultimate Course
#81
  1. Describe the difference between GRIN’s and BEAM’s…
    a. Funding
    Grin followed a highly principled, cypherpunk ideology – including no token premine or ICO, as well as volunteer-based development – Beam sought VC funding and hired a team of developers to work on the software full-time, allowing it to speed ahead of Grin in its implementation.

b. Governance
while Grin maintains an emphasis on community-driven decentralization, Beam stands out for its sharper business sense.

c. Target Customer
GRIN’s Target Customer: Technical Crowd
BEAM’s Target Customer: Non-Technical People

d. Emission Schedules
Grin: Infinite supply, one coin/second
Beam: fixed supply

  1. What is the key privacy concern of both, and what feature do they implement to deal with this?
    They don’t conceal inputs and outputs, they implemented Dandelion.
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#82

  1. Grin had no token premine or ICO, and Beam sought VC funding. Beam takes a corporate structure and funnels a portion of block rewards into a foundation to support development, and Grin relies on a community funding model like Monero. Grin’s target customer is technical users as where Beam targets everyone. Grin has an infinite supply with one new coin per second as where Beam has a fixed supply like Bitcoin.

  2. Both Grin and Beam may be vulnerable due to machine learning analysis since they fail to conceal inputs and outputs. They implemented Dandelion to conceal these leaks.

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#83

Tale of Two Coins - Reading

  1. Difference between GRIN’s and BEAN’s:
  • Funding: Grins is volunteer bases community while Beans is Venture Capital (VC)
  • Governance: Grin is community led while Bean is a corporate structure
  • Target Customer: Grin is for technical users while Bean is a user friendly one.
    _ Emission Schedule: Grin and Bean both to launch their Mainnets as a first step.
  1. The privacy concern for Grin and Bean both is that, both are vulnerable to machine- learning analysis - due to the design’s failure to conceal inputs and outputs.
    They both implement a privacy feature named Dandelion to better stop the potential leaks.
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#84
  1. Describe the difference between GRIN’s and BEAM’s…
    a. Funding
    -grin: volunteer-based development
    beam: VC
    b. Governance
    -grin: Community funding model
    -beam: Corporate structure, and funneling a portion of the block reward into a Foundation to support the blockchain’s development.
    c. Target Customer
    -grin: Grin has a command-line utility and is less accessible for non-technical users.
    -beam: Beam is going for usability and designed from a user-friendly perspective.
    d. Emission Schedules
    -grin: Intends to block the use of ASICs by making the algorithm less predictable
    -beam: Only minable by GPU’s and ASIC’s only blocked for 12 months
  2. What is the key privacy concern of both, and what feature do they implement to deal with this?
    Both may potentially be vulnerable to machine-learning analysis. They both implement Dandeloin.
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#85

Sorry I guess I missed this. :slight_smile:

By emission we consider that Grin is meant to be a currency and has an infinite supply where a coin is mined every second, while Beam is meant to be as a store of value and has a fixed supply like Bitcoin. :slight_smile:

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#86

Very plausible answer. Thanks for the referral.

#87

1.- Grin is not receiving any outside funds except for donations like Monero. Its an open-source and community driven. The target customer is more a technical user at the moment. Grin is focusing in became a currency, new token is issue every second.
Beam has corporative structure driven by profit interest, there is a block reward. Has emphasis on mass adoption and store of value to be limited as bitcoin.
2.- The common key privacy for both is oriented to Mimblewimble protocol.

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#88
  1. A - Beam took a Zcash corporate style approach and has VC funding and will take block reward portion. Grin on the other hand is open source, part-time, community driven with donations only.
    B - Grin is community governed with them driving every step. Beam has the corporate structure like Zcash to keep the project moving how the company sees fit.
    C- Beams aim is to be a store of value and has a GUI wallet while Grin aims to be a currency for the more technical savvy individual as they only have a CLI wallet.
    D- Grin emits a new coin every minute while Beam has a fixed schedule like Bitcoin.
  2. Neither protocols shields the input and output values so there is the potential that analytics firms could guess with certainty on addresses. They attempt to deal with this through Dandelion distribution of the transaction at the node level.
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#89

  1. Describe the difference between GRIN’s and BEAM’s…

  2. Funding
    Beam was VC funded and employed full time developers whereas Grin was completely community driven and programmed by volunteers.

  3. Governance
    Beam has a similar corporate structure to Zcash where some of the block reward goes to a Foundation that supports its development. Grin on the other hand relies on a similar structure to Monero where it is funded by the community.

  4. Target Customer
    Beam focuses on usability and adoption by having a range of wallets available including a GUI, mobile wallet as well as ones available for Windows, MacOS and Linux. Grin only has a command line wallet so only appeals to highly technical users

  5. Emission Schedules
    Beam has a finite amount of coins on a schedule similar to Bitcoin, Grin has an unfixed amount of coins but it issues a token once every second.

  6. What is the key privacy concern of both, and what feature do they implement to deal with this?
    That they are vulnerable to machine learning analysis due to the designs failure to conceal inputs and outputs but they both hope Dandelion will help to conceal that.

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#90

  1. GRIN
    Funding: It is a research project that receives funding only from donations.

    Governance: Relies on a community funding model, similar to the Monero project. The advantage of using this model is that it increases the security of the project.

    Target Customer: Targetted towards technical users who are familiar with the use of command-line arguments.

    Emission Schedules: A new token is issued every second to reward users fairly. By having an unfixed monetary policy, the project believes that by issuing tokens at a fixed and sustainable rate, the currency’s value can be stabilized.

    BEAM
    Funding: BEAM receives incentives from a portion of the block rewards and funding from VC.

    Governance: It maintains a corporate structure, similar to the cryptocurrency zcash. It receives a portion of the block rewards to ensure that the project does not cease.

    Target Customer: Offers a user-friendly GUI wallet and mobile wallet, making it accessible to non-technical users.

    Emission Schedules: BEAM takes a similar approach to Bitcoin. It has a limited emission by having a fixed issuance schedule of the coins.

  2. Both projects have concerns about their implementations being potentially vulnerable to machine-learning analysis if the design fails to conceal the inputs and outputs. To tackle this, both projects implement a privacy feature called Dandelion. Dandelion obscures the original IP address of a bitcoin sender.

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#91

Funding: Grin from donations, Beam by VC investors
Governance: Grin has a community driven governance, while Beam is more business oriented
Target Customer: Grid has a technical customer targeted, while Beam a less technical one
Emission Schedule: Grid has a ‘every second’ emission schedule, while in Beam inflation is scheduled similar to Bitcoin

  1. Having IP exposed, both projects are at the risk that someone could use a sophisticated machine learning solution for correlating users with payments made, thus loosing confidentiality. To overcome this issue, both use Dandelion.
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#92

A. FUNDNG: Grin relies on donations while Beam receives outside funding for profit and uses part of mining reward.
B: GOVERNANCE: Grin is open source and community driven while Beam maintains corporate structure
C: TARGET AUDIENCE: Grin caters to a technical crowd while Beam aims to be user friendly for everyone.
D: EMISSION: Grin mines 1 coin per second while Beam has fixed supply.

  1. The privacy concern for both is not concealing inputs and outputs. They use Dandelion to deal with this.
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#93

  1. Grin’s funding is based on Donations while Beam is VC funded and% block reward. Grin’s governance involves cypherpunk ideology and volunteer-base development while Beam involves corporate structure. Grin’s target customers are technical users, only CLI for the moment while Beam’s is usability, with a GUI and mobile wallet. Grin creates one new token each second while Beam has a fixed emission.

  2. Failure to conceal inputs and outputs, so both are implementing Dandelion to better conceal these potential leaks.

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#94
  1. Grin and Beam are 2 different implementations of the Mimblewimble protocol, “named after the Harry-Potter tongue-tying curse due to its ability to fuse transactions together such that they become indecipherable.” Their approaches to:
  • Funding: Grin uses a community-funded model, similar to Monero.
    Beam is funded by venture capitalists (VCs) and miner block rewards, similar to Zcash.
  • Governance: Grin is community-oriented.
    Beam is business-oriented.
  • Target Customer: Grin is targeting your average cypherpunk.
    Beam is targeting your average customer.
  • Emission Schedules: Grin has a new token issued every second.
    Beam’s token supply has a fixed issuance, similar to Bitcoin.
  1. Both Grin and Beam “may potentially be vulnerable to machine-learning analysis – due to the design’s failure to conceal inputs and outputs”. They implement Dandelion to deal with this privacy concern.
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#95

A. “Whereas Grin followed a highly principled, cypherpunk ideology – including no token premine or ICO, as well as volunteer-based development – Beam sought VC funding and hired a team of developers to work on the software full-time, allowing it to speed ahead of Grin in its implementation.”
B. " “Beam is a professional effort to create a privacy coin, there is an alignment of incentives within the block rewards so that the project won’t die,” Romanov said. "
C. Beam aims for user friendlyness, while Grin is more technical
D. Beam wants to create a “store of value” while Grin wants to create a currency.

  1. “concerns that both implementations may potentially be vulnerable to machine-learning analysis – due to the design’s failure to conceal inputs and outputs – are also under discussion”
    Both implement Dandelion
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#96
  1. a. Grin: No outside funding, only donations. Beam: Funded through part of block rewards and VC Funding
    b. Grin: Open source and community-driven. Beam: corporate structure
    c. Grin: More directed to people with technical knowledge. Beam: user-friendly
    d. Grin: Unfixed. One coin every second. Beam: Fixed issuance, similar to bitcoin
  2. They both may potentially be vulnerable to machine-learning analysis. They implement Dandelion to better conceal these potential risks.
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#97

1. Describe the difference between GRIN’s and BEAM’s…
a. Funding
Grin: Donation only
Beam: VC Funding
b. Governance
Grin: Rely on a community funding model like monero
Beam: Maintains a corporate structure. Funneling a portion of the block reward into a foundation to support the blockchain’s dev, like zcash.
c. Target Customer
Grin: Technical crowd running command-line wallet
Beam: Mass adoption with a user-friendly GUI wallet on many platforms
d. Emission Schedules
Grin: Wants to be a currency
Beam: Wants to be a store of value
2. What is the key privacy concern of both, and what feature do they implement to deal with this? Potential vulnerabilities to machine-learning analysis. Due to this there will be regular system-wide software upgrades, or hard forks in the early days

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#98
  1. Describe the difference between GRIN’s and BEAM’s…
    1. Funding — GRIN develops slowly as a research project without outside funding except for donations. BEAM partially funded by GRIN’s security audit
    2. Governance — GRIN relies on community funding model similar to monero. BEAM is a professional effort and follow zcash by maintaining a corporate structure.
    3. Target Customer — GRIN focuses on technical users as it only offers a command line wallet. BEAM emphasizes usability for regular users.
    4. Emission Schedules — GRIN monetary policy is unfixed, issuing token every second to stabilize value of currency. BEAM aims to be more of a store of value so fixed issuance like bitcoin.
  2. What is the key privacy concern of both, and what feature do they implement to deal with this? — both may be vulnerable to machine learning analysis due to design’s failure to conceal inputs and outputs. So both are implementing Dandelion, undergoing system wide regular upgrades, and eventually trestles privacy centric side chains for other currencies.
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#99

  1. Describe the difference between GRIN’s and BEAM’s…

  2. Funding -
    GRIN: structured as a research project and didn’t receive any outside funding except for donations.
    BEAM: partially funded Grin’s security audit.

  3. Governance -
    GRIN: similar to monero relying on community funded model
    BEAM: corporate structure, takes block rewards, similar to Zcash

  4. Target Customer -
    GRIN: technical crowd (command line wallet)
    BEAM: emphasis on usability, simple wallet interface

  5. Emission Schedules -
    GRIN: currency
    BEAM: store of value

  6. What is the key privacy concern of both, and what feature do they implement to deal with this?
    vulnerable to machine learning analysis. Dandelion will better shield against this risk

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#100

1. Describe the difference between GRIN’s and BEAM’s…
a. Funding
Grin: Community sponsored with donations
Beam: Company driven, with block rewards to fund development
b. Governance
Grin: Community driven
Beam: Company driven
c. Target Customer
Grin: techies
Beam: non-techies
d. Emission Schedules
Grin: 1 coin per second forever
Beam: capped at 262,800,000
2. What is the key privacy concern of both, and what feature do they implement to deal with this?
Both implementations may potentially be vulnerable to machine-learning analysis. Currently they are using dandelion to combat this.

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