Gulden is a peer-to-peer Dutch national digital currency based on the blockchain. Users can instantly send money to each other and can also easily wire money to any IBAN account. Users can also make payments using the coin to Gulden merchants.
Gulden or NLG is a pure Proof-of-Work (PoW) coin using the Scrypt algorithm. Its PoW is enhanced by witnesses on the blockchain holding NLG coins making it PoW2. The coin is premined, with 1% of the premined coins being used for bounties. It is alsoShow more [+] neable, using DELTA difficulty adjustment. The block reward is 100 NLG, 80 of which are taken by the miner and 20 by witnesses. The confirmation or block time is 150 seconds or 2.5 minutes. The total coin supply is 1680 million, with 479 million in circulation of which those on premine circulation are 108 million and for premine founder reward are 62 million.
Users can earn profits if they hold their coins on fixed deposit account. The minimum time one can hold coins and earn witness rewards is a month or 17,280 blocks, while the maximum is 3 years or 630, 720 blocks. The longer you hold, the more you earn. Users wallets must remain open at all times during the lock-up period, but remain encrypted for security purposes. If a user’s wallet happens to go offline during this period, then such a user would be required to pay a small fee to have their eligibility as a witness re-activated. Note that this system is no way synonymous to the masternode system
NLG is not prone to inflation and double spending thanks to its double key witness system. It is incredibly scalable and processes transactions very fast. Witness confirmations are near instant. The coin is supported by wallets such as Coinomi and Guarda Wallet and is listed for trading and sale on Nocks, LiteBit.eu, Bleutrade, YoBit, CryptoBridge and Bittrex.
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