Groestlcoin is a coin, forked from Bitcoin. It is an open source project, started in March 2014 by an international team with core team from Netherlands (Holland). Due to long history Groestlcoin has wide support by cryptocurrency exchanges and has a lot of client applications and wallets, including apps for mobile phones (Android, iOs, Blackberry).
The main purpose of Groestlcoin was to create a coin, which can be mined by ordinary people, not by enterprises with ASICs. ASIC is a specialShow more [+] mining hardware designed especially for finding new blocks of proof-of-work cryptocurrencies. This hardware is quite expensive, so not everyone can afford it. Groestlcoin, despite using proof-of-work consensus algorithm, can’t be mined by ASICs. Block time is 1 minute and current block reward is 5 GRS (around $2.5 USD). Another advantage of Groestlcoin is low transaction fees (about 0.0000019% of transaction amount for a transaction with high priority).
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