GoldCoin (GLD) is a decentralised open-source cryptocurrency forked from Litecoin in May 2013. It is a proof-of-work coin using "Golden River" (a variant of scrypt developed in house) as its hashing algorithm. The philosophy behind the coin's generation was modeled on the real-life finite supply of physical gold which is to be exhausted after 100 year of mining, creating some 123 million of goldcoins in the process. While GoldCoin wasn't pre-mined, it was launched with a highly disproportionate reward structure that dramatically favoured insiders and early miners.
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