GroestlCoin is a digital currency that uses Proof-of-Work algorithm. Currently, there is no ASIC for Groestl, and it is unlikely that one will be available anytime soon. For the foreseeable future, it will be ASIC-free.
Launched in 2014, it is a peer-to-peer digital currency focusing on technological advancements. It was one of the first coins to implement SegWit, which is segregated witness, and boasts major developments every three months.
This cryptocurrency embodies the fairly decentralized and distributed nature of digital currency through these features. With minimal annoyance and resource consumption, you can mine effectively. Many people thought decentralized mining will be dead soon due to the influx of ASICs. With GroestlCoin, however, decentralized mining rose to another level.
Thanks to several GPU, the richer advantage is not as interesting with Groestl; however, it is fairer, which is one of its added values. The platform is all about the democratization of mining and currency. It is also about inexpensive banking fees and the ability to receive and send money instantly. It is also about the ability to make transactions in an anonymous and secure environment.
The network uses an innovative algorithm, which allows it to maintain better security. It also uses far less energy and pays miners in better ways than x13, x11, scrypt, and Sha256-based coins. The network is set to become the next greener home of GPU miners because it offers better hashing results with less heat and energy.
The team behind groestlcoin aims to make it available to everyone. They seek to achieve this through user-friendliness, innovation, transparency, and integrity. Cryptocurrencies are the future, and this digital coin is leading the revolution. A multilingual play on words, the name Grøstl refers to an Austrian dish made of leftover pork and potatoes cut into slices. They roast these slices in a pan together with butterfat and onions, and then season them with parsley, salt, cumin, marjoram, and pepper. Afterward, they serve the meal with cabbage or fried egg.
It is quite similar to hash, which is an American dish. Just like the hash function, the name contains a mixture of Danish and Austrian influences. Its pronunciation seems difficult; however, if you think of ø as the letter ‘I’ in bird, you will be on the right path.