First of all, apologies for only publishing this article about GroestlCoin today. I know I made the promised to get it done yesterday, but I completely forgot there was a CHampions League game on TV. Either way, GroestlCoin it is!
The name “GroestlCoin” is very fitting, because this crypto currency uses the Groestl algorithm for Proof-of-Work. The reason why this algorithm was picked, is because it is super efficient to mine, on both CPU’s and GPU’s.
Not only does the Groestl algorithm have the lowest energy consumption, but it also significantly reduces the heat of your CPU/GPU, not to mention the noise reduction. Less noise, less heat and less electricity costs = efficiency in my book!
The reason why GroestlCoin can be mined on CPU’s in a more profitable way compared to other crypto currencies, is because there is a 5x-10x hash difference between CPU and GPU mining. When mining Scrypt coins, this gap is noticeably bigger.
Specification-wise, GroestlCoin will have a supply cap of 105,000,000 GRS, with blocks being generated every 60 seconds, and rewards decreasing by 6% every week. Difficulty adjustment is handles through the implementation of Dark Gravity Wave.
GroestlCoin had a very minor pre-mine, (0.22918095%). Given the current landscape of crypto currencies in general, with either a massive pre-mine and/or an IPO offering, GroestlCoin launched in a fair way compared to most other coins out there.
Whether you have regular or older hardware, or are a heavily invested miner with the latest toys, GroestlCoin is an excellent introductory coin in order to get to know the tips and tricks of mining and the software required.
Trading-wise, GroestlCoin can be found on many exchanges, such as MintPal,Poloniex, NXT-E, Comkort (traded against Bitcoin, Litecoin and DogeCoin), BitTrex, NewCoinTrade, AllCoins and Europex.
GroestlCoin Donations can be sent to FrNzKa2XhxGBfdpj1t1Sms144699rNXUXH