What is Electronic Gulden?
e-Gulden is a decentralized cryptocurrency project that was initiated by a group of students in the Netherlands. Their objective was to create a digital currency that could serve as a local alternative to Euro and Bitcoin. In July 2014, a group of volunteers established the Electronic Gulden Foundation, which oversees the development and promotion of the e-Gulden project.
The e-Gulden project aims to provide a fast, secure, and decentralized payment system that can be used by people and businesses in the Netherlands. The project is built on a Proof of Work (PoW) blockchain, which allows users to earn e-Gulden coins by contributing their computing power to the network.
One of the main challenges of PoW-based cryptocurrencies is the 51% attack vulnerability, where a single entity can control the majority of the network's computing power and potentially manipulate the blockchain. To address this issue, e-Gulden has implemented an "oeruschield" extension, named after two of its core-developers. This shield incorporates "identified mining," which allows Dutch companies registered with the Dutch Chamber of Commerce to request certification to operate a certified mining pool. One in six e-Gulden blocks must be mined by a certified mining pool, and currently, three such pools are operational, controlling one-sixth of the e-Gulden network difficulty.
The Electronic Gulden Foundation's primary focus is on community building, particularly within the Dutch community. The foundation aims to promote the adoption of e-Gulden as a reliable payment system in the Netherlands. The project's success depends on the support and participation of the community, and the foundation encourages individuals and businesses to join the e-Gulden network and become part of its growing community.
The e-Gulden project offers several advantages over traditional payment systems, such as low transaction fees, fast transactions, and increased security. The e-Gulden network's low transaction fees make it an attractive option for micropayments, while its fast transaction times make it suitable for day-to-day transactions. Additionally, the e-Gulden blockchain's security features, such as identified mining and decentralized network structure, make it a secure and reliable payment system.
The e-Gulden coin is the native cryptocurrency of the e-Gulden network and can be earned by contributing computing power to the network through mining or purchased on various cryptocurrency exchanges. The e-Gulden project's success relies on the community's support and participation, and the foundation encourages individuals and businesses to join the network and help build a decentralized and reliable payment system for the Netherlands.
In conclusion, e-Gulden is a promising cryptocurrency project that aims to provide a local alternative to Euro and Bitcoin in the Netherlands. With its fast transaction times, low transaction fees, and increased security features, e-Gulden has the potential to become a reliable payment system in the country. The Electronic Gulden Foundation's focus on community building is commendable, and their efforts to promote the adoption of e-Gulden as a payment system are vital to the project's success.
The investment information, comments, and recommendations provided here do not fall under the scope of investment consulting. Therefore, making an investment decision based solely on the information and comments provided here may not yield results that meet your expectations.
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