Grin founder temporarily leaves the project, disappearing like Satoshi Nakamoto

In the early morning of June 24th, Beijing time, Yeastplume, a full-time developer of the privacy cryptocurrency Grin (Chinese name: Gulingcoin), posted that Grin's anonymous founder Ignotus Peverell chose to temporarily leave the project (at least for a few months) for personal reasons, but did not provide a specific reason, which also triggered a lot of discussion among community members.

The following is the translation of the original post:

“As some have noticed, Igno has not been very active over the past few weeks. He recently told us on the committee that he needs to step away from the project for personal reasons. We have no further details on his situation or timeline for his return, but we expect he will be absent for at least a few months, and possibly longer. Since Grin is open source and does not rely on any one individual or group for progress, our work will continue uninterrupted in his absence.

Igno said in a message to committee members that Grin is "as good as it can be". This is for the entire community, and we still have a long way to go. We, as members of the current committee, will continue to do our duties, do our best, and move forward with a smile in the spirit of Igno's initiation of this project. We look forward to Igno's return and, as always, invite you to join us and help Grin become better.

— Grin Technical Committee

”

It is reported that Ignotus Peverell contributed the first line of code to Grin in October 2016. He has contributed the most code to the Grin project so far, and the community is willing to regard him as a leader.

The true identity behind the pseudonym Ignotus Peverell remains a mystery to this day. We only know that this name comes from one of the three brothers mentioned in "The Tale of the Three Brothers" in "The Tales of Beedle the Bard". According to the legend, Ignotus Peverell possesses an invisibility cloak that even allows him to escape the pursuit of death.

As the founder and chief developer of Grin, Ignotus Peverell chose the most difficult path to develop the Grin project. There was no fundraising, no pre-mining, and no founder block rewards. Compared with Bitcoin created by Satoshi Nakamoto, Grin's distribution appears to be fairer because it received a lot of attention from the beginning.

However, because of the economic rule set by Ignotus Peverell to produce 60 Grin coins per minute without reducing production, Grin is considered by many to be an infinite coin and worthless.

Ignotus Peverell once explained this issue:

“Regarding this thread and future similar threads, if you want to give constructive criticism of the emissions curve, at least give some decent thoughts. Repeating what you read on Reddit does not count.

More specifically:

When building a supply curve, at least consider the loss rate. For example, have you ever thought that 50% of the 21 million bitcoins will disappear at some point in time?

Compared to other slow-emission coins, grin's inflation after 8 years is only 33% more than bitcoin, or pick something newer: zcash. Argue why this matters (or doesn't).

Compared to faster emitting coins, Monero has emitted more than half of its coins in 17 months. What does this mean for long-term adoption? What about usage?

Analyze average crypto user and investor behavior. How do multi-year emission curves (fast or slow) affect them? What are the real adoption drivers (long term and short term?)

Don't use ECON101 in your arguments. It can be used to argue anything, and so can its opposite. Before you accuse us of not understanding economics, convince Nouriel. Then, maybe I'll listen.

Consider different strategies and how they play to the strengths and weaknesses of different blockchains. For example, what is the impact on Ethereum when daily supply becomes difficult to distribute?

Facts and actual research. Unfounded opinions are a bunch of rubbish.

The GRIN team is serious, and if you can provide sufficient empirical research showing that a different supply curve would be better for GRIN, we will absolutely listen. But don't expect us to listen to you after you spend 5 minutes listening to what we've spent the last 2 years building grin and then have a knee-jerk reaction to it.

”

This is very similar to what Satoshi Nakamoto said when he responded to BM's question, explaining why the block time was set to 10 minutes:

"If you don't understand what I mean, then I don't have time to convince you."

Today, Ignotus Peverell seems to have left quietly after posting "I'm starting something else" just like Satoshi Nakamoto did, leaving behind an interesting currency experiment. This "Satoshi spirit" is undoubtedly a big loss for the Grin project, but it seems to be helpful for the decentralization of the project.

Or, when will Ignotus Peverell return to the Grin community? Time will tell us the answer.