Introduction on the Goldcoin
Goldcoin is a cryptocurrency. Cryptocurrencies stand for the optimization of existing payment systems. Here, a special focus is placed on what is known as ACID properties. While transactional atomicity, database consistency after transaction execution and isolated transaction execution were already possible in established payment systems, longevity was a constant problem.
However, with the introduction of cryptocurrencies, this problem has been resolved because an executed and confirmed transaction within a blockchain has a permanent status and, therefore, is not affected by possible revocations.
This also means that cryptocurrencies are very safe. However, negative examples have already shown that trading venues are seen as a weak point and that these weaknesses can affect large assets. Goldcoin represents a new and safer approach because of both the value of the token and its particularly secure technical basis.
In general, cryptocurrencies are subject to great fluctuations. The same property also applies to the investment in companies via shares. Gold is used by many investors to preserve value. Goldcoin itself aims to be the equivalent of digital gold and offer an investment tool.
What is Goldcoin?
According to the developers, Goldcoin is not just a clever name that aims to make an association between the token and gold. It also offers a value which, in the future, should represent a functioning and accepted payment system for millions worldwide. Here, a pool-resistant client is used, which is particularly innovative and safe, and was additionally secured against 51% attacks.
Mining pool-resistance has been implemented to ensure that currency mining is fair. Thus, miners can only act as individuals and there is no discrimination against smaller or private miners. In addition, the developers describe the Goldcoin currency as a unique currency that cannot be compared to other tokens.
Direct contact with the forum plays a particularly important role so that features requested by the community can also be implemented in the blockchain. Particularly close contact with the community is ensured by the so-called “MicroGuy”.
This is, so to speak, the open ear of the developers. In addition, the conclusion that the Goldcoin token is not only a digital currency but also a hard currency was reached. It is an instrument for saving money safely in the digital world. The technique behind it is based on the original protocol of Nakamoto, who previously designed the Bitcoin.
The Team Behind Goldcoin
The team consists of 12 people who are responsible for the development, marketing and customer service of Goldcoin. Greg Matthews is a system administrator and internet pioneer. Since 2007, he has been active in the area of cryptocurrencies and has been actively researching market trends. In 2013, he created the Goldcoin-Talk forum.
Dr Gerald Higginbotham is the head of social and economic contacts. He is an expert in the fields of social and economic development and offers his knowledge to the team.
The next member is Eric Britten, who is responsible for developing the Goldcoin token. Currently, he supervises the development of the client software as well as the iOS application.
Amir Eslampanah is the lead researcher and has been an important member since 2013. He has made all the important changes to the blockchain and developed mechanisms to increase security.
Johannes Mutz is the team member responsible for the management of the solar cloud mining project, which is currently being conducted in India. This will be the first officially supported mining pool for the Goldcoin token. His counterpart is Srinivas Peespaty, who works as a consultant in India.
Gilead Okolonkwo maintains the African market and is a founding member of the Gold Club.
Furthermore, Allen J. Francois is an important member of the team. In addition to his work on the team, he works as vice president of a regional telecommunications company.
Finally, Brett Walling, Maverick Peppers, Lee Irvine and Jeroen Kouwenhoven are developers for the team.
What are the Goals of the Developers of Goldcoin?
Basically, the team believes that the original Bitcoin protocol reflects the perfect cryptocurrency for long-term value retention. Nevertheless, the security of the currency needs to be improved to increase long-term confidence. In addition, features will be presented that improve market acceptance and stimulate long-term growth.
Accordingly, in December 2017, the publication of the iOS application was sought. This should alert a completely new customer base to the use of the token. In January 2018, the official test of the new client was performed on a testnet.
Here the compatibility to past distributions, as well as the general performance, was tested. The final rollout will take place in February. This means that the new software will be distributed to all participants in the network. In March, the app will be released in the Apple App Store. The process is accompanied by Apple and four team members.
In April, the latest version of the wallet will be released for all other operating systems, so that all users can use the same software. Subsequently, focus on the World Conference Tour will be emphasized.
This will be about presenting the new software to investors so they can get to know it better. The tour aims to gain new customers and establish a better relationship with the community.
How Has the Market Capitalization of Goldcoin Developed?
The Goldcoin token was traded for the first time on June 21, 2013. The market capitalization was $19,219 and the token price was $0.001313. Since June 2016, the currency has been trading at more than $500,000, with 2017 marking a breakthrough year.
The market capitalization at the beginning of the year was 645,594 US dollars, and on January 12, 2018, it was 17.8 million US dollars.