Overview

Groestlcoin, a very distinctive name and difficult to sound out. It is a cryptocurrency which defines itself to be super efficient, secure and privacy-oriented coin that uses proof-of-work consensus algorithm to facilitate secure online money transaction with subAtomic fees. Groestlcoin comes with Segwit and Lightning network activated which help in scalability and lesser transaction time.

The Groestlcoin's proof-of-work (PoW) algorithm makes mining less difficult and trustworthy while conserving the resources. The coin doesn't support any ASIC for the mining operation, making it fully decentralised and fairly distributed across the network. Groestlcoin was basically the first cryptocurrency after Bitcoin, to activate Segwit in January 2017.

Key Features

ASIC Resistant: Groestlcoin comes with an ASIC resistant feature which makes mining distribution fairly distributed across the network and is compatible with any GPU. It uses 2 rounds of pure Grostl-512 mining algorithm for mining activities and no ASIC has ever been developed for it. It also makes out to be profitable for miners which makes it people's coin.

Private Transactions: Its Samourai wallet enables users to send GRS in a most securely and anonymous fashion. It features private stealth address with both TOR and VPN support with AES-256 encryption.

Multi-pool Resistant: This feature prevents fork to be stuck in the coin that creates all sort of problems and anomalies. Eliminating multipool problem levels out more fairer distribution through PoW among small pools and miners.

Highly Efficient and Rewarding: Due to its GPU mining GRS algorithm, it becomes highly efficient and economical as it consumes far less energy, maintaining stronger security and rewards miners in a more sustainable fashion.

Lightning Network: Enabling lightning network has helped Groestlcoin to get subAtomic transaction cost with benefits of instant payments, scalability and atomic swaps. The transaction fees for 10,000 GRS will be around 0.000045 GRS.

Active Development: The Groestlcoin development team releases a major update every 3 months to ensure a smooth running of the coin.

Coin Details

Total Supply: 105,000,000 GRS
Mining Algorithm: 2 rounds of Grostl-512
Block Time: 1 min
Block Size: 1 MB
Blockchain Size: 1.45 MB
Subsidy reduction: every 10,080 blocks, till it reached 5 GRS
Difficulty Retarget: After every block

Founders

Launched on March 22nd, 2014, the Groestlcoin is run by a dedicated team of 20 members led by Gruve P, founder and Advisor to the company.

Roadmap for 2018

On-chain/ Off-chain Atomic Swaps
Rebranding Vote
Lightning Network public release for Desktop and Mobile wallets
Adding GRS to multiple exchanges including Coinomi, Ledger, Trezor
Increase GRS payment adoption
Update Groestlcoin to 0.16.0 codebase and Electrum-GRS to 3.0.2 codebase
Upgrade Groestlcoin Samourai and Sentinel with new features

Conclusion

Groestlcoin is a cryptocurrency which allows super efficient and anonymous transaction at subAtomic fees and comes with Segwit and Lightning network activated which helps in scalability and quick transaction time.

Key Links

Website: https://www.groestlcoin.org

Whitepaper: http://www.groestl.info/Groestl.pdf

Groestlcoin

GRS

43.85 % (24hr)

$ 0.5817653826

$ 41.95M

$ 72.11M

$ 110M

466.1M

PoW

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