Groestlcoin
Cryptocurrencies are the rage at the moment, with more and more people getting into the industry. One of these cryptocurrencies is called Groestlcoin, and it has a lot of unique features that you might want to know about.
Groestlcoin, which is branded as GRS, is a digital currency that has been in existence since August 2014. The most important thing that you need to know about Groestlcoin is that GRS is a cryptocurrency wholly built around the concept of privacy.
Moreover, Groestlcoin is an ASIC-resistant cryptocurrency, and although the coin is merely pseudo-anonymous (like Bitcoin), the development team has created a wallet (Samourai) that provides complete anonymity.
Because the cryptocurrency employs the Grostl-512 mining algorithm, the project has been dubbed “Groestlcoin.” Many community members have advocated for a rebranding to encourage adoption; however, it does not appear that this will happen.
So, if you’re interested in investing in GRS, this is the right article for you. Below, we’ll lay out everything you need to know about GRS and the way it works, including the trading options and scenarios, the team behind the coin, and much more.
Trading
Since its inception in 2014, the GRS pricing has been nothing short of a wild roller coaster ride. For the first three years following its debut, the price remained very constant, fluctuating between $0.002 and $0.003. Trading, on the other hand, began to become more interesting around the beginning of 2017.
In just seven months, the price increased from around $0.001 (0.00000126 BTC) to over $0.35 (0.00015 BTC), before plummeting down to pre-spike levels two months later. The price then quickly rose to $1.18 (0.00018 BTC), a return of over 10 times in less than a week. This meteoric rise seems to correspond to a surge in investor interest in ASIC-resistant coins.
Groestlcoin has fluctuated wildly since then, ranging from a low of $0.287 (0.000043 BTC) to a high of $2.36 (0.000142 BTC). At the time of writing, the price is hovering around $0.44.
Simply put, greater usage will be the major driver of another price hike. With a surge in Bitcoin’s price, the price could see some significant action. As a result, if you want to trade or buy GRS, you should closely follow the latest GRS BTC crypto charts.
Where Can I Buy GRS?
There are several exchanges where you may trade BTC for GRS. Additionally, you can buy GRS directly with KRW on Upbit, the most popular choice in the world, accounting for nearly 80% of the trading volume.
GRS can also be obtained by mining. The Groestlcoin Easyminer is the simplest way to mine GRS. The Dwarfpool mining pool is automatically assigned by the Easyminer, but there are a few more pool possibilities as well.
Where Should GRS Be Stored?
As previously stated, you should be able to choose a suitable wallet from the many options accessible. Groestlcoin Core and Electrum GRS are both good options if you want to have your wallet on your desktop.
Perhaps you prefer to use your phone. If that’s the case, the Groestlcoin mobile wallet is worth a look. If you prefer anonymity, the Samourai wallet is indeed the way to go. Owners of the Ledger and Trezor are also in luck as both are expected to support GRS later this year.
Progress And Team
Groestlcoin was introduced by a developer known as “Gruve P” on Bitcointalk. Since then, the team has expanded to nearly 20 members dispersed across the globe. On the website, most team members opt to remain relatively anonymous, just revealing their name and country of origin.
Every three months, the team has consistently released new versions of the platform. With such consistency, all they’ve achieved in the last four years shouldn’t come as a surprise. In January 2017, the team implemented SegWit, and they’re already working on Lightning Network versions for both their desktop and mobile wallets.
Eleven different Android wallets, ten different Blackberry wallets, and three different iOS wallets have also been created by the team and community. They’ve also produced over twenty desktop wallets.
GRS Blocks And Supply
A total of 105 million GRS are available, with around 70 million presently in circulation. Additionally, Groestlcoin currently has a one MB block size, but the creators have stated that if 80 transactions per second aren’t enough to manage an increase in volume, they will expand it.
The mining reward was initially set at 512 GRS per block, but it was halved every week. The dividend has been increased to 5 GRS every block and will remain at that level for the duration of Groestlcoin’s existence.
Final Thoughts
Hopefully, you enjoyed this beginner’s guide to Groestlcoin and are perhaps better able to understand the Groestlcoin way of working now. Getting familiar with cryptocurrencies can be tricky if you’re new to the scene, but it’s perfectly manageable.
Just remember that Groestlcoin has a lot to offer. And now that you know a bit more about the technology behind Groestlcoin, you might be interested in learning more and perhaps even investing in it.
