maniecool: DIGITAL GOLD

Blockchain technology has gotten to the level in which the whole world cannot do without it. We have discovered that this technology is making the news headline everyday which symbolizes global and rapid adoption of this technology. But despite the greatness and potential of this technology, there are still some things that needed to be improved upon its use. We have several and different blockchain network such as bitcoin blockchain, Ethereum blockchain, eos blockchain, tron blockchain and some other more. The level of difficulties associated with each of this blockchain network varies based on the type of blockchain.
We have some blockchain that are more cumbersome and difficult to use than some others, we also have some that easy to use but they are lacking some other qualities. Let’s take for example the speed of transaction which is solely dependent on the nature of blockchain transaction. Some transactions do take several hours before it could be confirmed on the blockchain network, some blockchain also charges high transaction and mining fees. This is the reason why a new team has gathered around to rectify this problem by launching a new blockchain project known as Digital Gold

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What is GoldCoin?

GoldCoin (GLC) is a peer to peer cryptocurrency which was created by an anonymous person in 2013. Goldcoin like Bitcoin has no single company or individual owner. It is decentralized and open source and belongs to the world.

Since its creation, several cryptocurrency enthusiasts and programmers who believe in promoting economic freedom have got involved in its development. Thanks to these principles and a focus on game-changing usability features, like two-minute confirmation speeds and instant 0-Conf transactions, GoldCoin is fundamentally changing how cryptocurrency and economies operate.

GoldCoin capitalizes on the lessons taught by other cryptocurrencies, and it’s likely to inspire new developments in the days and years to come. What really makes it stand out, however, is its feature-focused development cycle.

GoldCoin leverages the power of on-chain scaling and large 2MB blocks to grow with demand without straying from Satoshi Nakamoto’s innovative vision. As a multi-pool resistant value store that retargets difficulty in each block.

It’s a proven system where awards are based on math alone. Thanks to its SegWit-free design, the ledger is truly verifiable and safe. Even better, it’s powered by an innovative 51 percent defense algorithm and devoted community working together.

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The Mission

According to the project’s whitepaper, the GoldCoin team launched in 2013 due to “civilization’s intimate connection with the precious metal [gold], seeing it serve as a store of value, fully-functional currency and the most coveted asset to last throughout the centuries by all cultures of this planet.”

The team believes investors have the “best of both worlds” with GoldCoin – access to 99.9% physical gold with the ability to use the precious metal as a functional currency. Each GoldCoin is worth 1/1000 of an ounce of gold that is fully redeemable for the physical product.

While our competitors are focused on micro transactions and payments, our focus is on enhancing the value-storage side of the equation. They have built a practical physical gold replacement that can be used by everyone today as a digital commodity. Goldcoin truly is the gold standard of digital currency, a safe haven for value in a turbulent world.

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Highly Affordable

The fractionalized nature of Gold Coin means that you can buy incredibly small quantities that would not typically be possible to purchase in real gold. Buying just one ounce of gold is usually challenging, but that single ounce of physical gold is the equivalent of 1,000 Gold Coins.

This pricing structure and the ties to physical gold mean that Gold Coin’s price depends on that of the precious metal. When you divide the price of a single ounce of gold by 1,000 to get the price of just one cryptocoin, it is easy to see how this cryptocurrency can make buying and owning gold more accessible.

To show just how accessible it is, at the time of writing, a single Gold Coin was just $0.1619.

Liquidity for Purchase

To increase accessibility, the project also acts as a liquidity provider. Higher liquidity helps ensure that you get the best prices from the market, regardless of the size of your purchase. In other words, the liquidity helps keep costs down.

Low-Effort Entry

In addition to being a more affordable method of owning gold, Gold Coin requires less effort. You do not have to spend time and energy filling out paperwork to buy gold then find a secure location to store it. The gold is physically stored in the project’s vault, but you still own it.

The Goldcoin blockchain runs on the proof of work (POW) consensus which is an algorithm used by the most popular cryptocurrency networks like Bitcoin and Litecoin Till today GLC has gone through several advancements in technology since then which are far more advanced than Bitcoin such as:

2 Min block interval (Bitcoin has 10 min block interval)

32 MB block size (Bitcoin has 2 MB block size)

On-chain scaling

Network capacity is 1120 TPS (transactions per second) Bitcoin is 7 TPS

Instant transactions

51% Defense System https://www.goldcoinweb.com/cherry-services/51-defense-system/ Meaning of 51% attack: - - - https://www.investopedia.com/terms/1/51-attack.asp

Inflation Rate and Comparisons

GoldCoin’s inflation rate ensures that the market will not become saturated with newly mined coins and that coin distribution will be balanced across future generations. More than 80 percent of all bitcoins have been mined, while only 50 percent of all goldcoins have been mined.

GoldCoin’s inflation rate is slow and consistent as compared to others:

GoldCoin is the first fractionalized gold-backed asset that is available for purchase directly with a national currency.

This feature, combined with the project’s clear roadmap, attention to security, and strong technological foundation, appears to give GoldCoin a strong future in the gold-backed cryptocurrency world.

For more information, please visit the links below:

Website: http://goldcoinweb.com/

Whitepaper: https://github.com/goldcoin/wiki/wiki/GoldCoin-Whitepaper

GoldCoin (GLC) Thread: https://bitcointalk.org/index.php?topic=317568

Facebook: https://www.facebook.com/groups/goldcointalk/

Telegram: https://t.me/goldcointalk

Twitter: https://twitter.com/goldcoin

LinkedIn: https://www.linkedin.com/company-beta/11217933/

Discord: https://discord.me/goldcoin

Miningpool: https://miningpoolstats.stream/goldcoin

Reddit: https://www.reddit.com/r/goldcoin/

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