The concept of ‘digital gold’ is not new. In the 1990s, E-Gold emerged as the world’s first virtual currency backed by physical gold. Millions took advantage of the service at its peak before E-Gold eventually shut down.
Today, there is a wide range of cryptocurrency projects looking to capitalize on a digital gold rush by issuing gold-backed coins. Many wonder why they should invest in a gold-backed cryptocurrency when there is an array of alternative coins in the virtual currency world.
Well, gold-backed cryptos like GoldCoinweb.com are attractive for a few reasons.
Gold has long been seen as a legitimate and trusted store of value. Coins backed by a physical product like gold can serve as a stable investment that remains unaffected by volatility in the cryptocurrency world and across traditional fiat markets.
Even if the gold-backed cryptocurrency starts to decline in price, it will never dip below the spot value of gold. There is even a chance popular coins could eclipse the spot price of the gold underpinning them.
The world of gold-backed cryptocurrencies continues to evolve as many stablecoin projects develop and mature.
Cryptocurrency was originally known as a payment system that allows people to be able to make transactions quickly, without third parties, in a transparent, secure and anonymous manner. Satoshi, who was the creator of Bitcoin, the first popular cryptocurrency, made Bitcoin beat a centralized financial system that was prone to manipulation and was controlled by one party.
With the growth and development of the Crypto / blockchain ecosystem, a number of alternative investment options have emerged, and have proven to be more efficient and profitable investment tools than traditional financial returns. Innovative projects consistently emerge in the crypto industry with high returns and sustainable trends, such as the DEFI Program. currently there is a new investment trend besides ICO, IEO, ITO etc.
If you don’t know what is Defi ?? DeFi is an innovation that was born to ensure that all financial services can be realized on the blockchain network in a decentralized, transparent and reliable way, without intermediaries such as decentralized financial banks, payment service providers, or no third parties. And this time I want to tell you about the Defi project, such as the Goldcoin Project.
Goldcoin has various unique features, a reliable team, great partners, and of course this will attract big market investment because Goldcoin is truly one of the promising projects. so let’s just discuss about this project.
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.
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.
As mentioned, 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.
Useful links to the project:
Website: https://www.goldcoinproject.org/
Telegram: https://t.me/goldcointalk
Reddit: http://www.reddit.com/r/goldcoin
Facebook: https://www.facebook.com/goldcoinpage/
Twitter: https://twitter.com/goldcoin
Linkedin: https://www.linkedin.com/company/goldcoin
Author : harum93
GLC Address : E32t8GoeH2QSK6RNJU3uYDriLrjPTovAtN
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