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Goldcoin
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Goldcoin (sign: G; code: GLD) is a peer-to-peer cryptocurrency. Inspired by and technically nearly identical to Litecoin (LTC). Goldcoin creation and transfer is based on an open source encryption protocol and is not managed by any central authority. Goldcoin is intended by its developers to improve upon Litecoin and Bitcoin. Each Goldcoin is subdivided into 123,423,900 smaller units, defined by eight decimal places. History Goldcoin was released in May 2013 via an open-source client on GitHub Forum * Goldcoin Forum Differences from Bitcoin Goldcoin offers three key differences from Bitcoin, which its developers hope will make it better than Bitcoin. * The Goldcoin network aims to process a block every 2.5 minutes, rather than Bitcoin's 10 minutes, which its developers claim allows for faster transaction confirmation. The network difficulty adjusts every 60 blocks according to hashing power available. * Goldcoin uses scrypt in its proof-of-work algorithm: a sequential memory-hard function first conceived by Colin Percival. The original intended benefit of using scrypt was to avoid giving advantage to GPU, FPGA and ASIC miners over CPU miners, which occurs in the Bitcoin protocol. However, this turned out to be an incorrect assumption: GPU mining in Goldcoin's implementation of scrypt is currently more efficient than CPU mining. FPGA and ASIC implementations are more expensive to create for scrypt than for SHA-256, which is used in the Bitcoin protocol. * Goldcoin network will produce 123,423,900 coins and Bitcoin network will produce 84 million coins. Addresses Payments in the Goldcoin network are made to addresses, which are based on digital signatures. They are strings of 33 numbers and letters which always begin with the letter E, for example, EdcFTW8ddVohkskvi9GH5LNBPdc9DtXB1f. Reward blocks and transactions Reward blocks: Blocks 1 - 200 = 10,000 GLD. Blocks 201 - 2,000 = 1,000 GLD. Blocks 2,001 - 44,999 = 500 GLD. Starting Block 45,000 rewards drops to 45 GLD. Reward is then reduced each year using the following formula: 50 divided by (1.1 + 0.49*every year there after). Total Blocks: Block Reward ends in year 2113, transaction fees still apply. Transactions: 2.5 minute block targets up till block 45000 2 minute block targets there after 504 blocks per difficulty retarget up to block 45000 60 blocks per difficulty retarget thereafter Total Coins: 123,423,900 Proof-of-work Goldcoin's major distinguishing feature is that it uses scrypt for proof-of-work. Confirmations Transactions are recorded in the Goldcoin blockchain (a ledger held by most clients), a new block is added to the blockchain roughly every 30 seconds (whenever a small enough hash value is found for the proof-of-work scheme), a transaction is usually considered complete after 2 blocks, or 1 minute. Development The Goldcoin developers have released Goldcoin client version 0.7.1.1 this has a new 51% defense system unique to GoldCoin to better protect it against attacks. As of this release Goldcoin is the only coin to date using this defense system, and post block 100,000 this system provides even more protection. Major markets * Cryptsy Cryptocurrency exchange * Coinex Cryptocurrency exchange Gaming There are several sites that let people game with Goldcoins: * 
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