Graphcoin price is $0.00008271
The current price of Graphcoin (GRPH) is $ 0.00008271.
Graphcoin is a decentralized, peer-to-peer digital currency that allows secure and private financial transactions worldwide. Just as Bitcoin, it operates on a blockchain system and is governed by cryptography. Despite drawing many parallels with Bitcoin, Graphcoin is unique in its technological developments and core values. This project is being driven by a community of developers passionate about decentralization and autonomy.
The team behind Graphcoin isn't as publically known as some other cryptocurrencies. It's likely that the project emerged from a collective of decentralized developers and blockchain enthusiasts. There isn't a single figure comparable to 'Satoshi Nakamoto' of Bitcoin. It's part of Graphcoin's ethos to focus on the technology, not the personalities.
Built on the blockchain technology, Graphcoin operates in a decentralized manner. The system doesn't require intermediaries, such as banks or payment processors, to facilitate transactions. When a GRPH transaction is initiated, it's bundled with other transactions into a 'block'. The block is then broadcast to the entire network of computers (nodes), to validate the transactions. Once validated, the block is added to the 'chain' of past transactions, completing the transaction.
The verification process, known as mining, involves solving complex mathematical problems, thus safeguarding the network from fraud or double spending. This mechanism, while demanding in terms of computational power, provides security that makes GRPH an engaging cryptocurrency.
At its core, Graphcoin utilizes a Proof of Stake (PoS) consensus algorithm for validating transactions. PoS, as opposed to Proof of Work (which Bitcoin uses), does not require immense computational power, thus making it energy-efficient and sustainable. Holders of GRPH can validate transactions (or 'stake') by merely holding the coin in their wallet. The more GRPH held, the higher the chance you have of validating a block and earning more GRPH as a reward.
The total supply of Graphcoin is 13.5M. Out of this, the circulating supply is 7.8M. It's essential to remember that this information is dynamic and changes frequently based on various factors such as mining activity and staking.
In the last 24 hours, Graphcoin has a trading volume of . Its market cap is currently $ 646.9, thereby making it the #1 in the global cryptocurrency ranking.
Graphcoin can be purchased and traded on multiple cryptocurrency exchanges. Some popular exchanges within the CoinExchange, HitBTC offer trading pairs with GRPH. Be sure to conduct your research before choosing a platform. It's crucial to ensure your chosen exchange platform is secure and reliable.
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