ABOUT GOLDCOIN
Goldcoin is a decentralised crypto exchange that has some unique features which will change the operations of cryptosystem. It is built by a team of professional volunteers who did research on the other existing cryptocurrencies. Based on the lessons they learnt from other cryptocurrencies, they built the Goldcoin to bring new developments to the crypto ecosystems.
GoldCoin is one of the earliest cryptocurrencies that came into existence, and was built on "on-chain-scaling" which ensures the increase of security as the size of network and value grows. Thus, GoldCoin is the most secured and valuable currency. It intends to take as globally accepted means of financial transactions, taking over known fiat currencies like USD, Euro or Pounds.
Goldcoin is designed to give equal opportunity to its users to trade their assets freely without third party interference.
The GoldCoin platform has a token known as GLC token that is used for transactions on its platform.
GOLDCOIN VISION
Having learnt from shortcomings of the past economic experiment of crypto assets, GoldCoin gives its users the access to cryptocurrency tools that will promote their personal wealth through charity, political action, STEM education and job creation.
FEATURES OF GOLDCOIN
Free Transactions
GoldCoin has a standard of reserving 5% of each block for free exchange transactions, which allows for 300,000 free transactions for a day.
This process give some users the opportunity to opt for nonpayment of transaction fees.
Greater Network capacity
Goldcoin has a greater network capacity which results from its speed on confirmation of transactions. This attracts more users to its platform.
Instant Transactions
Transactions are initiated and done easily and timely on GoldCoin platform. It has a standard timing of 2 minute for any exchange transaction.
Secured Network
The operations of cryptocurrencies and financial assets are interfered and attacked by various factors which result in insecurity and loss of useful time and revenue on the blockchain. This is revealed in the Golden River Difficulty Algorithm (GRDA) and 51% defense system.
Golden River Algorithm
This is a process of estimating the time frame of solving each block problem by a blockchain machine. This help the network to determine how many machines that will be needed in the network to enhance speedy processing of tasks.
Golden river algorithm has made various improvements over previous algorithms. A lot of tests were conducted by the management to ensure it will perform effectively under most extreme network conditions and it survived all the tests.
It has a two-minute target of solving a block, and whenever there is a problem that exceeds the timing, GRDA reduces the mining difficulty.
Golden River is adaptive, secured, flexible with predefined formulas. Its timing and self-correctional accuracy give cryptocurrency holders the advantage to hold and trade tokens that has more stable inflation rates and value consistency.
51% Defense System
This is the process of achieving majority consensus to the solution that will be used to solve problems in the new miners block.
Miners develop solutions to solve new block problems. The solution that is used by more miners becomes the official chain and all miners switch to it.
This process could be attacked by a bad actor by gaining control of 51% of all mining computers needed to get the majority consensus and controlling the records without anyone's knowledge.
Goldencoin 51% defense system has evolved three laws to stop these attackers from their fraudulent activities. The laws are ;
A user cannot transmit more than six blocks in every 10 minute.
The timestamp of a block cannot be more than 45 seconds ahead of the current network time.
Any noder that submits a block that does not meet Law 1 or 2 will be banned for a period of time.
Goldcoin's 51% defense and Golden River algorithm work hand-in-hand to minimize the influence of large miners and bad actors on the network and also mining multipools profitability.
DEMYSTIFYING GOLDCOIN
GoldCoin is a digital currency that is compatible with the values and innovations of cryptocurrency. It is not influenced by any regulation of the government or the Goldcoin development team, unlike fiat currencies that are controlled by government policies.
GoldCoin belongs to its holder, who decides its usage.
GoldCoin vs USD
The USD cannot be utilized to store value because its value is affected by government decisions and the market forces. GoldCoin is a cryptocurrency asset that can be used to store value online. It has the benefits of the old gold standard without disadvantages. Thus;
GoldCoin is:
Following the lead of cryptocurrencies that power online transaction of goods and services.
Helping to improve online remittances by enhancing transfer of funds globally.
Cutting the need for payment through intermediaries, banks and transfer mediums.
GOLDCOIN WALLET
GoldCoin wallet is an online account of every GoldCoin user. It can be downloaded and installed in electronic devices like android, IOS, Linux etc. Users can send and receive GLC tokens using the wallet.
Anyone who has this wallet has instant access to spendable hard money.
WARNING
The contents on the GoldCoin internet and white paper is for information purposes and not invitation for investment. Users are advised to be careful and also consult financial and legal experts for proper advice.
The company will not be liable for any loss or damages suffered by any client in the course of investing in GoldCoin.
USEFUL LINKS
www.goldcoinproject.org
http://gldpool.dns.navy/
https://hash-to-coins.com/
www.goldcoinweb.com
www.goldcoinproject.org
WRITER DETAILS
AUTHOR'S DETAILS
Bitcointalk Username: Movearmy
Bitcointalk Profile link:https://bitcointalk.org/index.php?action=profile;u=2768203
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