Electronic Gulden EFL Price

e-Gulden is a cryptocurrency project started by a group of students in the Netherlands. Their goal is to create a local alternative to both the Euro and Bitcoin.

Foundation and Mission

In July 2014, the Electronic Gulden Foundation was established by volunteers. The foundation aims to build a strong community, particularly within the Dutch population.

Addressing Security Concerns

One of the main challenges with Proof of Work (PoW) cryptocurrencies is the risk of a 51% attack, where a single entity could control the majority of the mining power. e-Gulden addresses this vulnerability through a feature called "oeruschield." This system allows for "identified mining," where only certain miners can participate.

Certified Mining Pools

To ensure security and integrity, Dutch companies registered with the Chamber of Commerce can apply for certification to operate a mining pool. According to the rules, one out of every six e-Gulden blocks must be mined by a certified pool. Currently, there are three certified mining pools active, which together control about one-sixth of the network's mining difficulty.

Conclusion

Overall, e-Gulden represents an effort to create a sustainable and secure cryptocurrency option for the Dutch community, balancing innovation with necessary security measures.

What is unique about Electronic Gulden (EFL)?

e-Gulden is unique for its "oeruschield" extension, which addresses the 51% attack vulnerability in Proof of Work coins by allowing only certified Dutch companies to operate mining pools, ensuring a more secure mining environment.

Who are the founders of Electronic Gulden (EFL)?

e-Gulden was initiated by a group of students in the Netherlands, who aimed to create a local alternative to the Euro and Bitcoin.

Where can I buy Electronic Gulden (EFL)?

 Freiexchange, Komodo Wallet