What Is Groestlcoin? Everything You Need To Know

Groestlcoin-Volatile Yet Promising Coin

The beauty of cryptocurrency is that the prices can see absolutely massive growth in a very small amount of time. One of the most shocking increases in price this year is associated with Groestlcoin. Now even the name itself is difficult to pronounce. It may seem like Groestlcoin has came out of nowhere, but it was actually started in 2014, about the same time as Ethereum was being founded. Since then it has struggled to gain any significant traction or growth. Except for recently of course.

grostlecoin chart price increase 2017

This year the currency posted insane results. The current price is a whopping fifty times higher than the base price back in January 2017. It even hit worth 300 times more but has since come down but even then it continues to fluctuate massively between $0.1 and $1. If it somehow stabilizes around $1 it means that the currency has experienced a thousand times increase in the last ten months alone! Imagine the returns you could have had while trading in this cryptocurrency! The total coins in circulation of groestlcoin is around 69 million tokens while the current marketcap is hovering around $35 million.

At the start of the year, the currency was still hovering around a paltry $0.001 and the overall marketcap was in thousands of dollars only. So what happened that the not-so-new currency posted some amazing results in this year? According to the coin’s website, the new coin’s blockchain was the first to implement a SegWit upgrade. Basically the upgrade allowed us to increase the block size by removing the script and signature from the transaction block.

While the approach was originated from bitcoin, Groestlcoin was the first coin that was able to implement them and then make its network lightning ready. Another important achievement of Groestlcoin is that they are among the first cryptocurrency try a proof-of-work system that makes it difficult for mining pools and therefore gives things back to the average user with his limited computing requirements.

You can earn Groestl coins easily by using your computer’s capacity without the need of adding an expensive GPU miner and mining is considered to be profitable the way things are going for the coin. Groestlcoin team loves to call it the people’s coin due to this approach. It allows true decentralization and doesn’t give power to huge mining cartels like in bitcoin to make forks and threaten the implementation of a new update, etc. There is a 6% block reward decrease weekly which makes it a really good prospect for the long-term future as well.

So, Groestlcoin after years in infancy is starting to grow and seems like a reasonable coin in my opinion but the name is so difficult that it is hard to know what its real pronunciation will be. I guess they should take after Dash who were once named XCoin and then DarkCoin. Lose your weird names Groestlcoin folks! Learn from others. Other than that, you are on the path towards bigger and better things!

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By | 2017-11-06T23:35:26+00:00 November 5th, 2017|News|0 Comments

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