Groestlcoin (GRS) is a cryptocurrency developed to create a fair network and ASIC resistance thanks to the Grostl algorithm. Groestlcoin is also the first blockchain platform to activate Segwit and combine with the Lightning Network to make transactions almost instantaneous, with zero transaction fees and increasing scalability and atomic swaps.
Groestlcoin uses an improved Grostl algorithm to help with ASIC resistance; the Groestlcoin platform allows miners to mine with CPUs without having to spend a lot of money on ASIC chips (the chip used mainly in Bitcoin and Altcoin mining), thereby creating opportunities for most people to mine GRS with fair competition.
GRS is the main cryptocurrency of Groestlcoin used to pay for purchases or services in the platform such as transaction fees, withdrawal fees, etc.
Features of Groestlcoin
Developed to create a more advanced blockchain platform, Groestlcoin offers the following salient features:
ASIC resistance: This feature helps create fairness for mining. At the same time, it helps limit the coins being held by a certain group of people because Groestlcoin is one of the first blockchain platforms on the market to fight miners using ASIC chips. This means that this mining cannot be done with expensive hardware.
First currency to activate SegWit: Groestlcoin is the first virtual currency enabled SegWit so that users can benefit from faster transaction times. And combined with the Lightning Network protocol, users can pay instantly at very low cost, such as a 10,000 GRS transfer fee of 0.000045 GRS.
Anonymous personal transactions: Groestlcoin allows users the ability to conduct anonymous private transactions through Samourai wallets capable of using TOR and VPN (tools to fake ip), allowing users to hide their IP address.
The wallet supports multiple platforms: Groestlcoin creates compatible wallets for all platforms such as: Android, iOS, BlackBerry, Windows, macOS, Linux, ChromeOS, Web. If you just want to use a wallet on multiple platforms, you should use the GroestlPay wallet.
High returns for all miners: You can mine GRS without the need for specialized hardware and expensive, you only need a miner with a reasonable cost and sufficient capacity, which helps miners save costs for miners also use electricity and still have the opportunity to mine the same amount of GRS coins as expensive miners. That increased the profits significantly for miners.
Update frequently: The Groestlcoin team insists that it will regularly check for errors during its operation and 3 months will issue a new update.
Allow sending and receiving GRS coins via SMS.
Team
The development team of the Groestlcoin project has more than 20 members and currently, there is very little information about the team. A few names that are publicly available include:
The founder: Gruve_P – Igor is from the Netherlands
Development team lead: jackielove4u – Jackie from Netherlands
Android, BlackBerry, Multigroestl Classic, Multigroestl HD and Groestlcoin Lite developer: Hashengineering – Eric from United States
Groestlcoin Core, Groestlcoin-WPF, Groestlcoin coin-util, Groestlcoin address utilty, Groestlcoin Armory and Groestlcoin Multisig developer: Ufasoft – Sergey from Russia
Electrum-GRS developer: Kefkius – Tyler from America
IOS developer: QuantumExplorer – Samuel from USA
Conclusion
The Groestlcoin cryptocurrency is a platform focused on privacy and security. This idea is not new in the crypto market, the competitor of Groestlcoin like Zcash, Monero or Dash. In terms of ASIC resistance, there are Bitcoin Gold or Vertcoin, all of which are inherently larger than GRS. Anonymous coins like GRS not only have the advantage of helping users hide information, free transactions and fast transaction speed but still have disadvantages. The downside is becoming a tool for money laundering crime, which is a problem that many countries are concerned about and do not support.
You can check GRS price here.
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