Groestlcoin (GRS) , launched on 22nd of March 2014 with a focus on technological advancement, is SEGWIT and Lightning Network ready.
Groestlcoin is a fast and secure coin with almost ZERO fees, that is privacy oriented. Major development release every 3 months. Groestlcoin was the first coin that activated SEGWIT and is Lightning Network ready.
The cryptocurrency operates as open source software on a peer-to-peer model (transactions take place directly between the payer and payee). This means that no trusted intermediary such a banks or PayPal is required to verify the details of the sender and receiver. Rather, the transactions are verified by nodes (the network of computers/users spread globally) and recorded in an open ledger referred as blockchain.
The main idea of creating Groestlcoin was to establish an electronic payment model that was purely based on mathematical proof. This is a system that is independent of influence from centralized authorities, a currency transferable electronically, and instantly at a very small fee.
Groestlcoins are created by miners on its network as a reward for confirming transactions. The founder pointed that only 105 million Groestlcoins (GRS) will ever exist when all the coins are mined.
- ASIC Resistant – A GPU Miner’s Heaven which makes the mining distribution of this coin fairer and more even, to help prevent the centralization of the coin. Groestlcoin uses 2 rounds of pure Grøstl-512 mining algorithm and no ASIC has ever been created for it. The BAIKAL ASIC has an implementation of Myriad-Groestl, but is not compatible with Groestlcoin.
- Private Transactions – you can send GRS anonymously. The Samourai wallet, boasts its anonymity and security, as it allows for private stealth addresses with both TOR and VPN support, as well as onboard AES-256 encryption.
- Multipool Resistant – basically makes it far less likely for a fork to be stuck in the coin creating all sorts of anomalies and problems. Taking out the multipool problem levels out even more fair distribution through proof of work among smaller pools and miners.
- Highly profitable for all miners. You can mine GRS without specialized hardware and still turn over a profit which makes GROESTL COIN really the PEOPLE’S COIN!
- Energy saving and lower power usage. Due to having the GPU mining GRS algorithm GROESTL coin is really economical to mine and if you are residing in a hot country this is the coin to mine as power costs are far less.
- Extremely interested and growing community that is backing the coin for its proven innovation and contributions to the Technological Advancement of Crypto Currency.
- Active DEVELOPMENT Team – Hardworking to ensure the smooth running of the Coin. There are major development releases every 3 months.