What is Gulden (NLG)?
Future of NLG Cryptocurrency and know how to buy NLG

#1: What is Gulden (NLG)?

NLG: The Basics

Gulden was originally the name for the Dutch national currency which was replaced by the Euro when the Netherlands became a part of the European Union in 2002. The Gulden cryptocurrency is an attempt by its developers to bring back the long-lost beloved currency of the Dutch, and give it a 21st century makeover. It aims to be the 'official' cryptocurrency of the Netherlands.

NLG Development

  1. Gulden was a fork of Litecoin and was created on 8th April, 2014. It was an initiative by Rijk Plasman and developer Malcolm MacLeod.
  2. Gulden aims to re-introduce the defunct national currency of the Netherlands, the Gulden, and to introduce cryptocurrencies and crypto-trading concepts to newcomers in an easy to use manner that encouraged early adoption.
  3. Gulden was a 10% premined coin, amounting to 170 million NLG tokens. However, 9%, or 150 million NLG tokens, are reserved for Dutch citizens. The remaining 1%, 20 million NLG, will mainly be used for supporting the continued development, improvement and promotion of the Gulden blockchain.

 

#2: What are the benefits of Gulden?

NLG Technology

  1. Gulden was developed to be a lighter, more user-friendly version of other cryptocurrencies. In order to be more lucrative to real-world merchants for adoption, changes were made to the blockchain technology which lead to lower transaction confirmation times, shorter block generation rates, and a more stable and secure network. The max supply of Gulden was also set at 1680 million NLG to ensure a large supply of coins for the market.
  2. Gulden was a fork from Litecoin, which means it uses a Proof of Work consensus mechanism and the Scrypt hashing algorithm. However, the developers of Gulden have aimed to expand and improve upon the blockchain technology by developing and applying a custom difficulty adjustment algorithm, called DELTA, and also introducing a new and improved version of the PoW mechanism called PoW2.
  3. The new PoW2 system divides the network into miners and witnesses, who act as an extra security measure by authenticating mined blocks before they are added to the blockchain. The witness authenticates the block using their private key, along with additional info such as a timestamp, and then rebroadcasts it to the network. Witnesses are required to have a vested stake in the network, in the form of NLG coins, which ensures a healthy network. Witnesses can add transactions to empty, or half-filled blocks, and since witnesses are rewarded for each addition, they are highly incentivized to add transactions to blocks they witness, wherever possible. This leads to a network that operates at near full capacity in terms of transaction throughput with efficiency.
  4. The new and improved version of PoW2 also protects against 51% attacks, Sybil attacks, and transaction malleability, along with deterring practices of selfish mining and dominance of mining pools.
  5. The Witness feature (a custom implementation of SegWit called SegSig) breaks up the burden of confirming transactions and splits it between miners and witnesses. This feature will be used in conjunction with PoW2 leading to shorter confirmation times and improved network security and stability. It allows Gulden users to lock their coins in for a period of time, ranging from a month to a maximum for three years, in exchange for an annual interest rate that varies from 3% to 10%. This is different from the concept of staking in Proof of Stake, which is merely an alternative coin distribution method to PoW.
  6. The custom difficulty adjustment algorithm use for Gulden, called Delta, means that the block time is significantly shorter than Bitcoin block times, 150 seconds to be exact. The time between generation of new blocks is much more stable, thanks to the faster and more efficient algorithm. There is also no halving of the block reward, unlike that of BTC. The current reward is 100 NLG coins per block.

Key Features

  1. Focus on usability - The core focus of the development team is the user experience with the Gulden ecosystem. The app, both mobile and desktop, have both been built from scratch with this mindset, resulting in an effortlessly easy method of acquiring and spending NLG coins.
  2. Extensive real-world integration - The aggressive promotion of NLG in the Netherlands has led to multiple large companies, such as Subway, adopting Gulden as an accepted form of payment, and has resulted in many other European and Nordic merchants adopting Gulden into their payment system. All real-world merchants accepting NLG can be viewed on its website[1].
  3. Interactive and dedicated development team - The development team of GUlden frequently releases extensive improvements to the code, and actively asks for and listens to community feedback and advice, unlike most other altcoins. The development teams also allow the community to choose which features the team should work on for the next release, making it a truly active community.
  4. Investment opportunity - Gulden Shares can be bought to support the developers in their continued efforts to improve Gulden as a cryptocurrency. Each share amounts to 20.000 Gulden, which will also earn a 1% interest on each share for 12 months. After 12 months, the share would be worth 22.400 Gulden, which can be exchanged for NLG coins at any time.
  5. Zero-confirmation transactions - With the introduction of PoW2 and other developments soon to be released for Gulden 2.0, the technology will allow transactions to be confirmed 100% safely and securely, with no waiting times. This is unlike any other cryptocurrency, where there is an average transaction confirmation time of 6-8 blocks. This allows larger corporations, who simply cannot wait for long periods of time to confirm each transaction, to authorize payments and sales earnings swiftly and efficiently.
  6. Stable and secure technology - The custom Delta algorithm, along with the SegSig technology in PoW allows Gulden to be a more secure and stable network than other altcoins. It offers protection against double spending, 51% attacks, and transaction malleability, along with a stable block generation time, short block waiting times, ability to support much more transactions per second, and very short transaction confirmation times.

 

#3: How to Buy & store Gulden?

How to buy Gulden

  1. Gulden can be bought on their official website, in exchange for Euros. It can also be bought and traded with fiat and other cryptocurrencies at various exchanges, such as Bittrex, LiteBit, Bleutrade and YoBit, with Bittrex being the largest by volume.
  2. Any Scrypt miner can be used to mine NLG coins. Popular ones include CPU Miner, CG Miner (best for AMD GPUs), and CUDA Miner (for NVidia GPUs). A list of mining pools are available on the official website for developers.

NLG Wallet

The Gulden app functions as the wallet for Gulden as well. It can be downloaded for various platforms, both desktop and mobile, from the official website. The Gulden app also allows NLG to be bought with fiat and other cryptocurrencies.

CoinSwitch

While cryptocurrency exchanges provide you with a platform to buy or sell the NLG cryptocurrency, CoinSwitch, the largest cryptocurrency exchange platform, comes in to help you make the right decision by providing the prices for NLG on multiple crypto exchanges. With support for more than 140 coins and 45,000 pairs of cryptocurrencies, you can choose whichever pair you want with your token and compare the prices at multiple exchanges. This way, you can choose the best deal for you!

What’s more - with CoinSwitch, you do not rely on a separate NLG wallet from the exchange to store your NLG cryptocurrency. Instead, all transactions happen to and from your own personal private wallets.

 

#4: What is the future of Gulden?

Also Read: Complete Analysis of Gulden | Live Gulden (NLG) Price Charts And Predictions

Price History

Date

Open

High

Low

Close

Volume

Market Cap

Jul 01, 2018

0.071233

0.07233

0.069701

0.070858

65412

28506500

Jan 01, 2018

0.247959

0.253663

0.23784

0.241945

841308

96579300

Apr 01, 2017

0.027186

0.029162

0.026227

0.028961

28675

9323170

Oct 01, 2016

0.006898

0.007217

0.006885

0.00706

6970

2220150

Mar 01, 2016

0.001787

0.001829

0.001691

0.001747

2335

533598

Sep 01, 2015

0.000904

0.00092

0.000862

0.000869

1631

240278

Apr 01, 2015

0.001139

0.001311

0.00113

0.001232

1381

255422

Oct 01, 2014

0.002254

0.002262

0.002004

0.00213

1915

279473

May 01, 2014

0.000774

0.000838

0.000723

0.000832

536

161889

  1. With a strong development team and robust technology, Gulden has remained stable even in a fluctuating market.
  2. With new improvements soon to be released, it could see a rise in prices.
  3. Long-term prospects for Gulden seem to appear bright, with a dedicated user base and extensive real-world adoption in Europe and the Netherlands.

 

#5: How is Gulden different from other cryptos?

  1. Dedicated development team - Unlike most other cryptocurrencies, the development team behind Gulden frequently releases updates to improve and enhance the blockchain technology based on inputs from the Gulden community itself, strengthening Gulden’s ecosystem, and allowing real-world merchants and skeptics to more easily place trust in the system.
  2. Innovative technology - The Gulden blockchain is much more faster, and secure than most other altcoins due to innovative additions to the blockchain technology such as the introduction of SegSig, reduced waiting times between blocks, a more stable block generation time, and faster confirmation times.
  3. Robust and secure - Gulden mitigates some known vulnerabilities of Bitcoin, such as 51% attacks, where someone with 51% of the hashing power of the network could game the system, double-spending, transaction malleability, and also addresses problems with scalability and security of the BTC network.
  4. Focus on end user - The development of Gulden was done keeping the end-user in mind, developing an ecosystem where a person with no technical knowledge of cryptocurrencies can easily use NLG coins for day-to-day transactions without any hassle or learning curve.
  5. Extensive real-world adoption - NLG is accepted at many merchants both online and offline in Netherlands and Europe, with international chains such as Subway accepting NLG as a legal form of payment. The focus on being adopted in the Netherlands means much more real-world integrations are to come.
  6. All in one app with extensive features - The Gulden app not only facilitates transactions using NLG, but also automates the conversion of fiat or other cryptocurrencies into NLG via the integration of the Nocks gateway[4], based in Netherlands. Gulden also allows transfer of fiat and NLG to and from bank accounts with just the IBAN (International Bank Account Number). The Gulden app also allows users to use NLG coins anywhere BTC is supported, and NLG payments can be done easily by just scanning the BTC QR code with the Gulden app.

 

#6: Should you invest in Gulden?

  1. Gulden has managed to distinguish itself from other altcoins with its continuous and innovative development roadmap, along with active interaction between developers and community members, improving its chances of staying active in the long run.
  2. Its focus on being adopted as the ‘official’ cryptocurrency of Netherlands, along with a nostalgic appeal to Dutch citizens, ensures a continued and dedicated user base, with little chance of NLG crashing and burning in the near future.
  3. Continuous developments and improved technology over the likes of BTC, along with more people adopting NLG could lead to an increase in prices.
  4. While investing in any cryptocurrency is subject to their inherent volatile nature, the appeal of Gulden to both users and merchants, along with its robust and secure development, make it a very lucrative choice for more research on investments.
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