Groestlcoin GRS to Stellar XLM Exchange

Crypto Pair Details: GRS to XLM

Groestlcoin GRS

Groestlcoin is an ASIC-resistant cryptocurrency that boasts having “almost ZERO fees.” Although the coin itself is only pseudo-anonymous (like Bitcoin), the development team has ported a wallet (Samourai) to give you full anonymity. Groestlcoin is strictly a cryptocurrency for peer-to-peer (p2p) payments. The coin serves the same end-goal as other transactional cryptos like Bitcoin and Litecoin but accomplishes that goal with a different set of attributes. Groestlcoin accomplished a few significant “firsts” with its feature set. It was the first coin to implement Segregated Witness (SegWit) and the first to perform a Lightning Network transaction on mainnet. With the implementation of the Lightning Network, Groestlcoin has minimal fees. Transferring 10,000 GRS (~$6000 at the time of this writing) costs fractions of a fraction of a cent. Even if the GRS price rises 1000x, the transaction fee would be just a couple of pennies. Groestlcoin utilizes two rounds of Grøstl-512 for its mining algorithm. This mining algo is ASIC-resistant, for now. A developer going by the Bitcointalk username “Gruve_P” launched Groestlcoin on March 22, 2014. Since then, the team has grown to over 20 people spread all around the world. Most team members prefer to stay relatively anonymous, only sharing their first name and country of origin on the website. The team has been consistent in releasing new versions of the platform every three months. With such consistency, it shouldn’t shock you to hear all that they’ve accomplished in the last four years. The team activated SegWit in January 2017 and is currently working on Lightning Network releases for both their mobile and desktop wallets. The team and community have also built eleven different Android wallets, ten different wallets for Blackberry, and three for iOS. They’ve created more than ten desktop wallets as well. GRS has recently seen a rise in popularity, with most CPU and GPU miners moving away from networks like BTC, where ASIC miners have completely saturated the mining pool. With its robust features, focus on privacy, and innovative technology, GRS is a very lucrative choice for these miners, and has the possibility to be the next big coin that hits the market. While investing in any cryptocurrency is subject to their inherent volatile nature, the immense market potential of Groestlcoin, along with its pioneering technology and dedicated development team, make it a very strong consideration for investment.

Stellar XLM

The Stellar network is an open source, distributed, and community owned network used to facilitate cross-asset transfers of value. Stellar aims to help facilitate cross-asset transfer of value at a fraction of a penny while aiming to be an open financial system that gives people of all income levels access to low-cost financial services. Stellar can handle exchanges between fiat-based currencies and between cryptocurrencies. Stellar.org, the organization that supports Stellar, is centralized like XRP and meant to handle cross platform transactions and micro transactions like XRP. However, unlike Ripple, Stellar.org is non-profit and their platform itself is open source and decentralized. Stellar was founded by Jed McCaleb in 2014. Jed McCaleb is also the founder of Mt. Gox and co-founder of Ripple, launched the network system Stellar with former lawyer Joyce Kim. Stellar is also a payment technology that aims to connect financial institutions and drastically reduce the cost and time required for cross-border transfers. In fact, both payment networks used the same protocol initially. Distributed Exchange Through the use of its intermediary currency Lumens (XLM), a user can send any currency that they own to anyone else in a different currency. For instance, if Joe wanted to send USD to Mary using her EUR, an offer is submitted to the distributed exchange selling USD for EUR. This submitted offer forms is known as an order book. The network will use the order book to find the best exchange rate for the transaction in-order to minimize the fee paid by a user. This multi-currency transaction is possible because of 'Anchors'. Anchors are trusted entities that hold people’s deposits and can issue credit. In essence, Anchors serves as the bridge between different currencies and the Stellar network. Lumens (XLM) Lumens are the native asset (digital currency) that exist on the Stellar network that helps to facilitate multi-currency transactions and prevent spams. For multi-currency transactions, XLM is the digital intermediary that allows for such a transaction to occur at a low cost. In-order to prevent DoS attacks (aka spams) that would inevitably occur on the Stellar network, a small fee of 0.00001 XLM is associated with every transaction that occurs on the network. This fee is small enough so it does not significantly affect the cost of transaction, but large enough so it dissuades bad actors from spamming the network. The collected fee is then redistributed and added to an inflation pool. This inflation pool releases Lumens at a rate of 1% each year.

SOURCE: COINGECKO

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