Garlicoin
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Garlicoin (GRLC, ₲) is a stand-alone proof of work meme coin which originated on December 25th, 2017 as an internet challenge by DigitalizedOrange on Reddit. The now deleted post was titled: “If this post gets 30,000 upvotes, I will make a garlic bread cryptocurrency called garlicoin”.[1] [2] It brands itself as the “friendly, decentralized cryptocurrency you’ve never heard of.”, focusing on three main features: cheap and fast transactions, a low barrier to entry and total focus on the community.[3]
Development started shortly after the Reddit post, forking the Litecoin codebase, with the first GitHub commit being published on January 2nd, 2018[4] and its mainnet[5] going live on the 21st at 2pm EST of that same month.[6]
Garlicoin had a huge initial momentum, with airdrops and fundraiser[7] occurring regularly. However, its starts were dampened when 40,000 coins went missing, which were premined and destined for an airdrop and future projects. Claims were made that this heist was performed by one of the initial developers.[8] An explanatory article was posted which clarified what had happened, and concluded that ASIC hardware was used to mine the coins. The decision to change the mining algorithm to Allium was made and implemented shortly after in Garlicoin's next release.[9]
DigitalizedOrange stepped down from the project about 2 years after the Reddit post, and deleted all their social media appearance. Since then, their whereabouts have remained unknown, evoking memories of Satoshi Nakamoto and the mystery surrounding their identity.
Since its launch, popularity has since decreased[10], yet transactions have not stopped being broadcasted[11] and its community is still active on multiple platforms, such as its Subreddit (r/Garlicoin), Discord servers, Telegram channels and even through the blockchain itself by sending OP_RETURN transactions.[citation needed] Development has continued, with projects that make use of the coin inside video games[12], lottery websites and methods to store data using the p2shdata protocol[13].
A burn address, where coins are sent to almost be impossible to be recovered, was created on the 5th of September 2023. The address, “GRLCBREADBURNEDADDRESSXXXXXXZjD9WK”, contains about 1.5% of the total available supply (69 M GRLC).
Modifications[edit]
Although implementing all the code from Litecoin, features were added to make it more unique and appealing to the users. The mining algorithm firstly used was Scrypt-N. However, since block 58,670, a custom mining algorithm called Allium, named after the garlic plant's scientific name allium sativum, was implemented with the objective of making Garlicoin ASIC-resistant.[14] This feature was implemented as a hard fork around 8pm UTC on Friday the 16th of February. [15]
This new algorithm, which is still currently used by other coins, such as Tuxcoin, is based on Lyra2REv2 and implements the following hash functions:[16]
Blake -> Keccak -> Lyra2 -> Cubehash -> Lyra2 -> Skein -> Grøstl
The difficulty adjustment algorithm in charge of adjusting the block time to 41 seconds is the Dark Gravity Wave.
Being a meme coin, some of its parameters were adjusted to meet this philosophy using numbers such as 69 and 420, by making the maximum supply of coins 69,000,000 GRLC and its default port 42069.[17] The miner's reward fee is set to change every 690,000 blocks, with its starting reward being 50 GRLC.[18]
Due to a 51% attack which happened at the end of August 2022, a rolling checkpointing system was implemented[19] as a soft fork on version 0.18.0 which reduces the impacts of 51% attacks on the network by prohibiting reorgs that are greater than 15 blocks.[20]
This incident took advantage of the wrapped token called WGRLC on the Ethereum and Binance Smart Chain, which is pegged 1 to 1 with GRLC.
References[edit]
- ↑ "If this post gets 30,000 upvotes, I will make a garlic bread cryptocurrency called garlicoin". r/garlicoin. 2017-12-25. Retrieved 2023-05-13.
- ↑ Carvalho, A.; Sambhara, C.; Young, P. (2020). "What the history of Linux says about the future of cryptocurrencies". Communications of the Association for Information Systems. 46 (1): 2.
- ↑ coinguides (2018-02-05). "Official Garlic wallet and Garlium wallet Setup Guide - Garlicoin (GRLC)". Coin Guides. Retrieved 2023-05-14.
- ↑ "renamed all permutations of litecoin · GarlicoinOrg/Garlicoin@da6ba93". GitHub. Retrieved 2023-05-13.
- ↑ "Mainnet". Binance Academy. Retrieved 2023-05-13.
- ↑ "Garlicoin.io". Garlicoin. Retrieved 2023-05-13.
- ↑ Elrondel (2018-02-21). "Final Report regarding the Garlicoin Charity Drive". r/garlicoin. Retrieved 2023-05-14.
- ↑ "A 'Joke' Cryptocurrency Called Garlicoin Isn't Funny in 2018". www.vice.com. 27 February 2018. Retrieved 2023-05-14.
- ↑ Retosen (2018-02-06). "Garlicoin's Issues, an Explanation and our Solutions". Medium. Retrieved 2023-05-14.
- ↑ Wintermeyer, Lawrence. "The Rise Of NFTs And dApps That Are Building A Home Away From Ethereum". Forbes. Retrieved 2023-05-13.
- ↑ "GRLC | Actual Volume : GRLC/USD". grlc.eu. Retrieved 2023-05-13.
- ↑ "Garlic Bread Dating Simulator by Anime Garlicoin". itch.io. Retrieved 2023-05-13.
- ↑ "p2shdata". opreturn.net. Retrieved 2023-05-13.
- ↑ Newsbit (2021-10-15). "Op zoek naar de volgende Doge - Garlicoin". Newsbit (in Nederlands). Retrieved 2023-05-14.
- ↑ Retosen (2018-02-15). "Important Information Regarding Friday's Allium Hard Fork". Medium. Retrieved 2023-05-14.
- ↑ GarlicoinOrg/Garlicoin, GarlicoinOrg, 2022-10-03, retrieved 2023-05-13
- ↑ GarlicoinOrg/Garlicoin, GarlicoinOrg, 2022-10-03, retrieved 2023-05-13
- ↑ "GRLC.eu | Garlicoin statistics and tools". grlc.eu. Retrieved 2023-05-13.
- ↑ "Release 0.18.0 - Rolling checkpointing · GarlicoinOrg/Garlicoin". GitHub. Retrieved 2023-05-13.
- ↑ nuc1e4r5n4k3 (2022-08-30). "Regarding the latest Attack Update". r/garlicoin. Retrieved 2023-05-13.
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