In the world of crypto-currencies where projects are born and fade out repeatedly, Groestlcoin is a project that evidences simplicity, durability, and staying power. Launched in March of 2014, Groestlcoin started with the goal of being instant, private, and with very low fees.
The design team for Groestlcoin began with a goal toward adopting the latest advancements to create a basic, multi-purpose crypto-currency that performs reliably quickly and cheaply. The android app for Groestlcoin was released in December of 2014 and in March of 2015 an Electrum wallet came available. In August of 2015, the Groestlcoin core v2.11.0 was released. Later on in 2015 came an address utility as well as Groestlcoin easyminer v2.0. On the 10th of September, Groestlcoin Network’s BIP66 soft fork was activated.
During the course of 2016, there were over 20 different wallet releases. Some of these were updated to existing wallets, but others were applications for Android and Blackberry devices. One of these was Groestlcoin Samourai. This is a mobile version designed specifically for privacy, security, and anonymity. SGminer5 was also released in January of 2016.
In January of 2017 Groestlcoin became the first crypto-currency to activate SEGWIT and become lightning network ready. The core got an update to v2.13.3 and an iOS Groestlwallet was released along with iOS and Chrome OS Groestlpay. Among many other developments in 2017 was an update to the website, a SEGWIT paper wallet and numerous wallet upgrades.
As the development team looks ahead to 2018, they have some ambitious plans. Off-chain and on-chain atomic swaps are in the works as well as Lightning Network upgrades for their desktop and mobile wallets. There are also plans to incorporate GRS into hardware wallets such as TREZOR and work to expand the number of exchanges that trade GRS.
Groestlcoin not only has a history of steady development, it is also technologically unique. It employs the ASIC resistant Grøstl-512 mining algorithm. To this date no ASIC has been created for it, and while not impossible, it is highly unlikely. As a result of this unique mining algorithm, Groestlcoin requires much less energy to mine than other coins. With these features coupled together, it becomes much more cost effective for the average individual to mine profitably on his own.
GRS can be sent anonymously as well. Groestlcoin’s Samourai mobile wallet allows for private stealth addresses with onboard AES-256 encryption as well as TOR and VPN support. Utilizing SEGWIT, Groestlcoin transactions are extremely fast and inexpensive. When the Lightning Network is enabled that will be even more pronounced.
Features for the Future
Groestlcoin has a team of over 20 developers that are collaborating to produce the ideal, all-in-one coin. Wallets for multiple mobile and desktop applications, accessible mining, fast and secure private transactions, with low fees all point to one thing. Groestlcoin has a track record of success and will certainly be a solid contender in the crypto-currency field.