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Groestlcoin($GRS)
$0.438236
Low $0.419225
High $0.442539
What is Groestlcoin?
What is Groestlcoin? Groestlcoin is a proof of work cryptocurrency created in 2014. Designed for everyday use, Groestlcoin features an average block time of one minute, as opposed to Bitcoin's ten. As a consequence, it has a maximum tota...
What is Groestlcoin?
Groestlcoin is a proof of work cryptocurrency created in 2014. Designed for everyday use, Groestlcoin features an average block time of one minute, as opposed to Bitcoin's ten. As a consequence, it has a maximum total supply that will cap out at 105 million coins, as opposed to the 21 million for Bitcoin. The main idea of creating Groestlcoin was to establish an electronic payment model that was purely based on mathematical proof. It uses the proof of work system (POW) to facilitate secure online money transactions. This is a system that is independent of influence from centralized authorities.
How does it work?
Groestlcoin is mined using the Groestl algorithm. Groestl was chosen as one of the five finalists of the NIST hash function competition. It uses the same S-box as AES in a custom construction. 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 bank 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.
What does it aim to solve?
With a shorter block period than Bitcoin, Groestlcoin aims to be more functional for everyday payments. Merchants don’t need to wait 10 minutes to confirm whether or not they have received their payment. The reduction in hashrate intensity also gave Groestlcoin an opportunity to be mined by individuals with less computing power. However, companies and teams have created ASICs for Groestlcoin, albeit at a higher cost than creating ASICs for Bitcoin. Rather than just a simple fork, Groestlcoin also works to adopt developments and additions inspired from discussions surrounding the Bitcoin network, and was actually one of the first adopters to several key features such as Segregated Witness (SegWit) and the Lightning Network.
Tags
Funds
Influencers
CoinScouts Grade
Market Statistics
Volume
$3,281,132.00
Market Cap
$35,991,346.00
Fully Diluted
$46,014,780.00
Market cap Value
9.12 %
Circulating Supply
82,247,444
Max Supply
∞
Total Supply
105,000,000
% of Total Supply
78.33%Self Reporting
Self-Reporting Dashboard (SRD)
Statistics
Groestlcoin Statistics
Name
GroestlcoinTicker
GRSPrice
$0.43823624 Hour Trading Volume
$3,281,132.0024 Hour Volume Change
-42.14%Market cap
$35,991,346.0024 Hour Market Cap Change
-0.97%Fully Diluted Market Cap
$46,014,780.00Price change 24 hour
1.10%Price change 7 days
-0.97%Price change 14 days
-3.61%Price change 30 days
-4.29%All Time Low/High
$0.00007701 | $2.74Percentage Change Since All Time High
-83.95%Percentage Change Since All Time Low
571,703.32%Market cap rank
#553Volume / Market Cap
0.09116Issuance Blockchain
n/aCirculating Supply
82,247,444 (78.33%)Max Supply
∞Total Supply
105,000,00024h Volatility
$0.11Twitter Followers
42,749Telegram Users
0Reddit Subscribers
107,181Github subs
n/aGithub issues
n/aGroestlcoin Markets
Upcoming Groestlcoin Events
No upcoming events for Groestlcoin known.
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Groestlcoin News
No news for Groestlcoin known.