Garlicoin, the memecoin inspired by garlic bread, was launched in 2018 and is based on a few simple fundamentals — cheap and fast transactions, low barrier to entry, and total focus on the community.
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Read on to learn everything you need to know about the Garlicoin cryptocurrency.
What Is Garlicoin
Garlicoin (GRLC) is a memecoin based on the garlic bread meme, which was hugely popular a few years ago. The idea came around in 2017, when Reddit user, DigitalizedOrange, published a post with the title: "If this post gets 30,000 upvotes, I will make a garlic bread cryptocurrency called Garlicoin."
The post easily received 30,000 votes, so the team started working on creating a new cryptocurrency honoring garlic bread.
The mainnet of Garlicoin was launched in January 2018. Garlicoin is a Litecoin fork and uses a proof-of-work consensus algorithm modified to allow and encourage GPU and CPU mining. The Garlicoin project continues efforts to create ASIC-resistant coins to promote decentralization and avoid their dominance.
Garlicoin Founders
On December 25, 2017, a Reddit user named DigitalizedOrange came up with the idea of creating a coin to transform the memecoin market. The user revealed his vision to the community, and in January 2018, the team swiftly assembled and launched the testnet of the new memecoin.
Garlicoin is an open-source project - its design is public, and nobody owns or controls it.
How Does GRLC Work
Nowadays, Garlicoin's consensus mechanism is known as Allumi, and it also integrates Dash's DWG difficulty adjustment mechanism. The DWG difficulty adjustment mechanism helps the network tune the mining difficulty according to the hash rate. Because of the adjustments, Garlicoin's blockchain is able to provide a block time of only 40 seconds.
The Garlicoin team has gradually updated the source code, constantly posting it on Github. The most recent version of Garlicoin's source code is version 0.17.3, released on May 12.
The team also worked on implementing tipbots for Reddit and Discord, launched a payment service, a free GRLC faucet, and much more.
Garlicoin will soon be linked to a unique Garlic retro game on Steam, reinforcing the memes. Furthermore, the game will come with monthly challenges to win players prizes up to $100.
According to the roadmap, Garlicoin plans to further approach the gaming community in 2022 with a game that will integrate GRLC and participate in various competitions. This will push their existing Reddit community of over 101K members to new heights. As the community expands and gets more robust, the price of Garlicoin will grow faster as well.
Unlike other cryptocurrencies, Garlicoin is not affected by network congestion or gas prices.
With all the development going on with Garlicoin, the coin surpassed $7 million in market cap, and GRLC managed to break over the $0.1 level and rise steadily.
Where Can You Buy GRLC
Top exchanges where you can trade Garlicoin are Crex24, Txbit, TradeOgre, and FreiExchange.
However, the Garlicoin team is working to have the coin listed on even more exchanges and expand the ecosystem.
