What is Groestlcoin?
The Groestlcoin or GRS is a novel cryptocurrency based exclusively on mathematical proof and created for near-instant online day-to-day operations.
GRS achieves this goal by utilizing a Peer-to-Peer (P2P) model for executing transactions. This way there is no need for a third-party middleman as all of the transaction details are confirmed by a network of nodes.
Furthermore, Groestlcoin comes with SegWit and the Lightning Network.
There is a max cap of 105,000,000 GRS coins which makes the coin supply deflationary. To put it simply, this means that the GRS price could increase as the number of circulating coins decreases.
GRS is a Proof-of-Work (PoW) cryptocurrency that can be acquired via mining.
Additionally, you can purchase Groestlcoin via major supported DEXs and CEXs. Check out our recommended exchange list for purchasing GRS in the above section.
GRS is considered to be a digital asset. As such, it experiences periods of volatility. During these periods, the GRS price fluctuates.
Therefore, before making any purchase decisions, it’s important to consider these changes in price. A good starting point is a price chart like the one provided above. It will show you the price history and trends, among other details.
Groestlcoin Mining
As discussed in the "What is Groestlcoin" section, Groestlcoin can be mined. To do this, Groestlcoin employs the Grøstl mining algorithm. The latter was one of the finalists of the NIST hash function competition hosted by the US National Institute of Standards and Technology.
Grøstl allows miners with less powerful computers to mine the coin as well. This makes it more accessible than other cryptocurrencies that need a lot more computing power.
In fact, GRS is the first cryptocurrency based on Grøstl.
Who Developed Groestlcoin?
The Groestlcoin crypto project was launched in 2014. Its founding team members have chosen to keep their identities hidden. Instead, they introduce themselves under aliases
Jackielove4u, hashengineering, ufasoft, kefkius, yokomoko, yura-pakhuchiy, and quantumexplorer.
Don’t forget to monitor the GRS price before jumping into Groestlcoin or any other cryptocurrency project.
