News and information on Gulden, the crypto currency and the underlying blockchain. Click on the News button for the latest news articles.
What is Gulden:
Launched on April 8, 2014 Gulden is one of the oldest and mature projects in the crypto space. It is a trustless, decentralised user-friendly payment solution that is based on powerful technologies.
It’s unique 2nd generation blockchain makes clever use of a whole range of advanced and proprietary technologies. As a result, it sets new standards in safety and robustness and can be used for professional applications.
The blockchain not only relies on the miners model, also called PoW (proof of work), but also adds witness (a kind of PoS on steroids) and techniques like Sonic, Delta and SegSig.
This results in a blockchain that is mineable at home, generates income for witness holders (staking) while combining fast transaction speeds with incredible low fees.
Gulden is a collaboration between experienced developers, a supportive community and the (by blockchain) elected Gulden Advisory Board.
Back to the essence of money: for people, by people.
User-friendliness is one of its spearheads. This makes Gulden accessible for almost everyone. In addition, the underlying blockchain is very environmental friendly. This means that far less energy is needed to validate a transaction. Packed with innovations and smart techniques such as Witness and SIGMA Gulden is playing in its own league.
The Gulden blockchain can also be used for business applications, e.g. for notarial deeds, airline tickets, copyrights, registering votes etc..
With the Gulden wallets you can make payments or send Gulden directly to someone on the other side of the world; receive a (high) interest on your Witness account; create them on your own computer by mining; spend them in various shops and restaurants or simply trade them on an exchange.
How does it work?
Gulden are stored in a digital ledger, the so-called blockchain. This ledger is distributed on the internet. Every change -or transaction- is approved by a miner and a witness and added to the blockchain.
To get access to your money in the blockchain you need the recovery sentence. Without it, you or no one else has access. This recovery sentence consists of twelve words and you will get it the first time you install the wallet-app. The wallet shows your balance and makes transactions possible. If your computer or phone is stolen, you can always reinstall the app, but only with your recovery sentence will you be able to restore your funds.
Gulden: How to get started
Step 1. Download the free wallet-app. The wallet is used to transfer money to the blockchain, view your transactions and to make payments.
Step 2. At the first time opening the app your personal recovery sentence is shown. The recovery sentence consists of twelve words and is actually the key to your money. If you lose it, your money is lost! So write it down, keep it save and don’t show it to anyone. Anyone in possession of your recovery sentence will always be able to access your money! Note: first time syncing the app with the blockchain can take some time.
Step 3. Receive money. This can be done in a number of ways:
- You can buy/trade Gulden directly on a stock exchange like Bittrex.com.
- or use the buy button in your app.
- Have a friend transfer some Gulden to your account.
- Create your own Gulden by mining on your desktop computer.
Step 4. Now you are ready to spend them. You can make payments with your app to:
- Stores that accept Gulden.
- or deposit them back to your friend, anywhere in the world!
What else you need to know:
The value of the Gulden fluctuates, comparable with other currencies. For each transaction, a small fee is charged for maintaining the payment network. This is a few tenths of a Guldencent and therefore much cheaper than maintaining a bank account. There are no other costs.