Grin’s Lead Developer Is “Disappointed” By The Way In Which The Crypto Industry Is Shaping Up

Via an announcement released on the official Grin website, the project’s lead developer (who is only known by his pseudonym name ‘Ignotus Peverell’) said that his team was severely disappointed ”by the way in which the industry was shaping-up around Grin”.

“Grin was started with as fair of a launch as possible for what’s under our control. We did this for good reason: we believe in Grin’s mission.”

Peverell then went on to say that he was also quite disheartened by the way in which Michael Cordner's recent fundraising campaign to devote a 100% of his time to Grin was still 90% off its final mark. At press time, Cordner's campaign has been able to rope in a total of €4,660 (out of his total envisioned target of around €55,000).

However, it should be pointed out that the aforementioned statistics don't take into consideration the extra 131 ETH (~€12,000) and 1.14 BTC (~€3,400) that has also been raised in relation to the campaign.

More On The Matter

Speaking about the current state of the ICO market, Peverell made some astute observations which he believes can help crypto entrepreneurs who are trying to make their mark on this burgeoning industry.

On the subject he noted

“More scammy ICOs for more money and a lot less work. Perhaps forcefully taking 20% of all rewards is the only way to get any contribution out of the mining industry. If greed feeding on itself is the only lesson, then this space truly deserves a really long and hard winter. A lot more creativity is needed to reach escape velocity, and that won’t happen if everyone’s goal is just feeding off it.”

Final Take

In closing out his recent blog entry, Peverell let it be known to the world that the Grin project is in a position to profit ‘infinitely more’ from the contributions of Michael Cordner than those made by any other single miner or financial entity. It now remains to be seen how the future pans out for the firm.