Groestlcoin operates as a Proof-of-Work blockchain network that facilitates transfers of digital assets. The project was launched in 2014 and has been actively releasing an update every three months since. The founders created Groestlcoin with the idea to create a payment method that is based entirely on mathematical proof. This is so that it avoids any potential third-party interference or the possibility of malicious activity. It focuses primarily on developing technological advancements and is both SEGWIT and Lightning Network compatible. 

GRS is the platform’s native cryptocurrency. A total of 105,000,000 GRS can ever be mined.

What are Groestlcoin’s key features and how does it work?

Since Groestlcoin is a fork from the Bitcoin blockchain, it operates in a similar fashion to Bitcoin and many other cryptocurrencies. It has the same block creation time of 10 minutes, however, it has integrated other features with the aim of improving some of the holdbacks of Bitcoin, for example, scalability. Its network runs as a public ledger. Miners help to secure the network.

The project uses a unique hashing algorithm known as Groestl-o. It is designed specifically for GPU mining and is ASIC resistant, which helps to promote equal mining opportunities. Miners can complete mathematical problems in order to verify and add transactions to the block. In return for helping validate transactions on the network, they are rewarded with GRS coins. Each block mined is rewarded with 5 GRS coins.

Transactions are processed on the network via a private TOR server, which is then interlinked with the Lightning Network. It is then sent instantaneously to the Groestlcoin blockchain. SegWit helps to keep the network scalable.

Groestlcoin is compatible with multiple wallets, including its own desktop wallet, Groestlcoin Core, and its various mobile wallets.

What is noteworthy about GRS?

Thanks to its integration with Lightning Network, transaction fees are almost zero and payments are instant. The network is also scalable and facilitates Atomic Swaps.

Where can you buy GRS?

GRS is available for trading on the following CEXs and DEXs listed here. The most popular platforms with the highest liquidity are Binance, Huobi Global, and BitGlobal. The price of GRS will vary depending on the choice of exchange and overall market conditions. For up-to-date and historic data for GRS market prices, please view the price charts on this page.