Groestlcoin - Shitcoin Review
on Aug 17, 2018
Today we'll be reviewing a coin that has been requested by quite a few members of our community.
Comin’ in hot with another shitty name: Groestlcoin. An excellent name that is super shitty for marketing and will hurt chances of mass adoption. It’s great having a name that you need to spell 5 times for people to learn about it….
Despite the shit name, it is considered an OG coin that has admittedly had a pretty consistent history considering the waves that occur in the crypto wold.
Let’s dig in...
Groestlcoin (ticker: GRS)
Wtf is this shit?
Groestlcoin is a project that aims to provide an effective solution for peer to peer transactions, much like Bitcoin or Litecoin. Their name comes from their consensus algo...Grøestl-512, which is an ASIC-resistant algorithm for their PoW scheme.
Their claim to fame is allowing near-free transactions. The fee to transfer 10,000 GRS is .000045 GRS - JOKES! Pretty cheap.
From a technical point of view, they do not necessarily ‘innovate’ much that we can tell, BUT they do keep up with the times.
They are known for being the first ones to implement SegWit as well as performing a Lightning transaction on the mainnet.
They have over 10 Android wallets, 3 iOS wallets, as well as wallets for several other platforms. This is great for accessibility and adoption.
They have been around since 2014, with a large, reliable team that has been regularly pushing updates over the past few years.
They are one of a few coins hosting their own block explorer, testnet and mainnet.
They also promote tipping (GroestlTip) and make it easy for live streamers to integrate this feature in their streams.
Lastly, and this is important, they have a consistent team that has been around since their launch. This means no rebranding or community takeovers. They are known for their consistency.
Honestly, this sums up most of what Groestlcoin is all about. They were the first to SegWit, have many available wallets, and have completed more in depth blockchain implementations. This gets the technical crypto community enthusiastic, but is it good for marketing? Do people care? Can they take over Bitcoin? That's up to you to decide.
Who tf is behind this shit?
Their team annoyingly goes by online usernames, so it is hard to know much about their past. BUT, we can tell you that they constantly push updates and are active (over 100 repositories on their GitHub). Check out their BitcoinTalk profiles: https://www.groestlcoin.org/team/
Anyways, Mid-Tier shitcoin. While we respect their activity and involvement in the space, we question their brand and true practicality over Bitcoin and the like. We wish them the best. DYOR.
Hope you learned some shit.
- Mike and Aaron