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Founded by Igor Janson in 2014, Groestlcoin is a decentralized, blockchain-based peer-to-peer cryptocurrency.
What is Groestlcoin (GRS)?
The primary focus of Groestlcoin is the decentralization of mining through the use of ASIC and multi-pool resistance. Therefore, GRS does not require large amounts of hardware or energy for mining and its algorithm allows users with CPUs to profit.
Groestlcoin is mined using the groestl algorithm, chosen for its use of the same S-Box as AES. GRS is open-source software based on a peer-to-peer model, meaning transactions occur directly between two parties without any intermediaries. Instead, transactions are verified by nodes, a global network of independent participants, and recorded in a public ledger.
The main goal of Groestlcoin is to be functional for daily real-world payments, aiming for very quick transaction confirmations. Additionally, the platform allows people with less computing power, insufficient for larger networks like Bitcoin, to mine Groestlcoin.
On the other hand, the team behind Groestlcoin aims to improve issues they observed in Bitcoin, with enhancements making cryptocurrencies resistant to ASIC and cost-free.
Groestlcoin was founded by Igor Janson, also known as Gruve_P, from the Netherlands.
Additionally, GRS coin is privacy-focused and the identity of its team is confidential. Nevertheless, the team continuously releases development updates and provides real-time roadmap updates.
At the time of writing, Groestlcoin’s GRS ranks 409th with a market cap of $51,565,548 according to CoinMarketCap data. It’s also worth mentioning that the GRS Coin, trading at 0.6691 USD against the dollar, has a 24-hour trading volume of 14,289,678 USD.
Trading against Bitcoin at 0.00001345 BTC, GRS Coin saw its lowest value at $0.00006 on November 17, 2014, and peaked at $2.69 on December 21, 2017. Currently, there are 77,056,789 GRS Coins in circulation, with a maximum supply of 105,000,000 GRS Coins anticipated.
Where to Buy GRS Coin?
GRS Coin can be securely and quickly purchased through Binance, the world’s largest cryptocurrency trading platform by volume.
To buy GRS Coin, one must first register with Binance and then transfer fiat currency. After transferring a fiat currency like the Turkish Lira or the US Dollar, GRS Coin can be purchased by first buying Bitcoin (BTC) and then trading in the GRS/BTC pair.
Additionally, on Binance, users can place orders to buy at lower than market value. For this, use the Limit tab and simply enter the desired amount and price you wish to buy at.
