GRS
No. 619Price
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- Coin Introduction
What is The Groestlcoin (GRS)?
Groestlcoin (GRS) is a cryptocurrency launched in 2014, focusing on technological advancements and being SEGWIT and Lightning Network ready. It operates as open-source software on a peer-to-peer model without the need for intermediaries like banks or PayPal. Transactions are verified by nodes globally and recorded in a blockchain ledger.
Who Created The Groestlcoin (GRS) ？
The founder is Gruve from the Netherlands. The Groestlcoin Team delivers continuous developments. Every 3 months, the development team releases new features and updates, making Groestlcoin one of the most advanced coins on the market.
How Does Groestlcoin (GRS) Work?
Groestlcoin operates like Bitcoin, requiring a wallet for sending and receiving coins. Its network uses blockchain technology to store transactions securely. Transactions involve transferring value between users' wallets using private and public keys for verification. Mining in Groestlcoin confirms transactions, adds them to the ledger every minute, and rewards miners with coins.
Groestlcoin is a blockchain pioneer in activating SEGWIT and TAPROOT. It enables Lightning Network for almost zero fee transactions, instant payments, scalability, and Atomic Swaps with a fee of 0.000045 GRS to transfer 10,000 GRS.
Tokenomics
What is Groestlcoin （GRS） used for?
Groestlcoin was created to establish a payment model based on mathematical proof, independent of central authorities, allowing instant electronic transfers at low fees. Groestlcoins are created by miners on its network as a reward for confirming transactions.
Token Distribution
Groestlcoin is a decentralized currency existing as data in its network. Mining confirms transactions for rewards, releasing 105 million coins and securing the network.
- Mining algorithm: 2 rounds of Grøstl-512
- Block time: 1 minute
- Block size: 1 mb
- Difficulty retarget time: every block
- Blockchain size: 3 GB
- Initial block rewards: 512 coins
- Current block rewards: 5 coins
- Next halving (est. date): None. Fixed 5 GRS block reward
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