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It is a cryptocurrency utilizing Proof of Work – No ASIC currently exists for Groestl & it is unlikely that one will be developed for it anytime soon. GroestlCoin will be ASIC-free for the foreseeable future.
- Through these features GroestlCoin embodies the fairly distributed & decentralized nature of Cryptocurrency. Anyone can mine effectively, with minimal resource consumption and nuisance. – With the influx of ASICs we thought decentralized mining will soon be dead, with GroestlCoin it is reborn and taken to another level.
- The extra added value of Groestl is that the “richer advantage” (owning several GPU) is less interesting with Groestl; so fairer.
- Stands for democratization of currency and mining, the ability to send and receive money immediately anywhere in the world, to not pay expensive banking fees, and to transact in an environment that is secure and anonymous.
- Through an innovative algorithm, the Groestlcoin network consumes far less energy, maintains stronger security, and rewards miners in more sustainable ways than sha256, scrypt, x11 and x13 based coins. – Grostl will be the new greener home of GPU miners as it offers greater hashing results with less energy and heat.
- They strive to make groestlcoin available to the masses. Innovative and user friendly, accessible for everyone. They highly value integrity and transparency. Digital currencies are the future and Groestlcoin will be one of the leaders in this revolution.
The name "Grøstl" is a multilingual play-on-words, referring to an Austrian dish usually made of leftover potatoes and pork, cut into slices. These are roasted on a pan together with onions and butterfat. The dish is often seasoned with salt, pepper, marjoram, cumin, and parsley, and served with a fried egg or kraut (cabbage). Hence, gröstl is somewhat similar to the American dish called hash. The letter ‘ö’ was replaced by ‘ø’, which is a letter in the Danish alphabet that is pronounced in the same way as ‘ö’. This way, the name, like the hash function itself, contains a mix of Austrian and Danish influences. The pronunciation of Grøstl may seem challenging. If you think so, then think of the letter ‘ø’ as the ‘i’ in "bird". This letter is a so-called close-mid front rounded vowel.
Groestl Specifications White Paper