Groestlcoin (GRS) is a cryptocurrency developed to create a fair and ASIC resistant network thanks to the Grostl algorithm. Groestlcoin is also the first blockchain platform to enable Segwit and work with the Lightning network to make transactions near-instant, transaction-free, and increase scalability and atomic swaps.
Groestlcoin uses an improved Grostl algorithm to support ASIC resistance; Groestlcoin platform allows miners to mine CPUs without having to spend a lot of money on ASIC chips (chips used mainly in Bitcoin and Altcoin mining), thereby opening the door for almost anyone 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 innovative blockchain platform, Groestlcoin offers outstanding features including:
ASIC Resistance: This feature helps to create fairness for mining. At the same time, it helps to reduce coins being held by a certain group of people as Groestlcoin is one of the first blockchain platforms on the market that can resist miners using ASIC chips. This means that this mining cannot be done with expensive hardware.
The first currency used to activate SegWit: Groestlcoin is the first SegWit enabled cryptocurrency that allows users to transact quickly. Besides, the combination with the Lightning network protocol also helps users make instant payments with extremely low costs, such as a 10,000 GRS transfer fee of 0.000045 GRS.
Anonymize private transactions: Groestlcoin allows users to make private transactions anonymously through the Samourai wallet, which is capable of using TOR and VPN (IP spoofing tools), thereby 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 the wallet on multiple platforms, you should use the GroestlPay wallet.
High profits for all miners: You can mine GRS without specialized and expensive hardware, you just need a miner with a reasonable cost and enough capacity, this helps miners to save costs and still have a chance to mine. mine the same amount of GRS as miners using expensive hardware. That increases the profits significantly for miners.
Updated frequently: The Groestlcoin team states that they will regularly check for errors during operation and that a new update will be released every 3 months.
Allows sending and receiving GRS money via SMS.
The development team of the Groestlcoin project has more than 20 members, but currently there is very little updated information. Some of the names that have been made public include:
Founder: A Dutchman named Gruve_P – Igor.
Lead developer: jackielove4u – Jackie from the Netherlands
Android, BlackBerry, Multigroestl Classic, Multigroestl HD and Groestlcoin Lite developer: Hashengineering – Eric from USA.
Ufasoft – Sergey from Russia is the developer of Groestlcoin Core, Groestlcoin-WPF, Groestlcoin coin-util, Groestlcoin using addresses, Groestlcoin Armory and Groestlcoin Multisig.
Electrum-GRS developer: Kefkius – Tyler is from the US.
iOS Developer: QuantumExplorer – Samuel from the US.
Crypto Groestlcoin is a platform focused on privacy and security. However, this idea is not new in the crypto market, Groestlcoin has a lot of competitors like Zcash, Monero and Dash. When it comes to ASIC resistance, there’s also Bitcoin Gold or Vertcoin, all of which are bigger than GRS. Moreover, anonymous coins like GRS, in addition to helping users to hide information, free transactions and fast transaction speeds, contain disadvantages that make many countries concerned that it can become a public company. tool for criminals to launder money, which created a wave of protests.
You can see GRS prices here.
According to AZCoin News
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