Goldcoin original develloper was called gldcoin.
GoldCoin was released in May 2013 via an open-source client on GitHub
GoldCoin offers four key differences from Bitcoin, which its developers hope will make it better than Bitcoin.
* The GoldCoin network currently has a block target time of 2.0 minutes, rather than Bitcoin's 10 minutes.
* The network difficulty adjusts every 60 blocks according to hashing power available. Bitcoin difficulty adjust every 2016 blocks
* GoldCoin uses scrypt in its proof-of-work algorithm: a sequential memory-hard function first conceived by Colin Percival.
* GoldCoin network will produce 123,423,900 coins and Bitcoin network will produce 21 million coins.
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
Proof-of-work
GoldCoin's major distinguishing feature is that it uses scrypt for proof-of-work.
