The growth of cyptocurrency around the world has been extremely organic and the Guarany digital cryptocurrency coin aims to be a large part of it, especially in Brazil.
Cryptocurrency aficianados have rallied behind the big boy of the group, Bitcoin, while giving impetus to other local cryptocurrency efforts. It is inevitable that if and when this movement succeeds on a large scale, there will be local digital currencies that drive the adoption of digital currency beyond the early adopters.
One such effort is the Guarany coin.
What is Guarany?
Guarany is a Brazilian Cryptocurrency which has been created for use specifically in the country keeping its unique needs. It was developed by Brazilian developers and released for public use in November 2014. It was the first real indigenous effort at cracking the digital currency conundrum and has thus been well supported by Brazilians.
What Makes Guarany Coin Attractive To Users?
There are a lot of things that have been kept in mind when this particular cryptocurrency was being designed. It has in fact taken the best of BitCoin and looked to add features that remove some of its shortcomings.
How Many Guarany Will There Be?
The total amount of Guarany in circulation will be a high enough number (10 Million Coins) so that it is able to achieve the two important objectives of being being stable as well as easily available to a wide number of people.
Below are the details.
Coin Suffix: GUA
Algorithm: Scrypt PoW/PoS
IPO/ICO: No IPO, no ICO
PoW Period: 990000 Blocks ~4,7 Years
PoW Ends: Block 990,000
PoS Min: 8 Hours
PoS Max: 7 Days
PoS Interest: 1.0% Annually
Premine: 1% Premine used in swap*
Transaction Fee: No Fee
Confirmations: 4, Maturity: 150
Transaction Confirmation: 4 Blocks/10 Minutes
Target Spacing: 2.5 Minutes
Difficulty Retarget: Every 1 block
Maximum Coins: 10,000,000 GUA
Block Halving: Never
P2P port: 8745
RPC port: 8744
The community has also been modeled to make it inclusive and welcoming to newcomers. Mining Guarany does not require any specialized rigs or software. If you have a recent modern machine, there is nothing stopping people from beginning mining straight away. Below are some mining pools that you can join.
Here you can find the official blockchain for Guarany. http://blockexplorer.guarany.co:8080/
Does Guarany have retailer support?
This is one of the biggest challenges that lies ahead of any budding cryptocurrency. It is a chicken and egg situation where the retailers want to see people adopting the currency while people want to see retailers accepting the currency.
The developers of Guarany are currently (November 2014) paying a referral fee (500 GUA) for those who get merchants to sign up and accept payment for goods and services. With the current price of GUA currently trading for a Bitcoin value that is around 60 cents (USD) each, this is quite a large reward.
The one advantage that Guarany has is the first mover advantage in Brazil and so its fast organic growth should result in increasing numbers of people and thus increasing acceptance across the country soon.
Guarany Coin Wallets?
There are Guarany wallets (including paper wallets) that are available for easy download for all the major computing platforms around the world. You can visit the following forum page provided by the Bleutrade cryptocurrency exchange for more information. http://forum.bleutrade.com/index.php/topic,224
The cryptocurrency is available and accepted for trade at cryptocurrency exchanges including Bleutrade and Alcurex.org and trades under the symbol GUA.
As of mid November 2014 Guarany ranks as one of the coins with the highest trading volume on Bleutrade.
You can access a Guaranycoin faucet at the following: http://faucet.guarany.co/
3. Bleutrade Forum Announcement thread
4. Bleutrade Forum discussion board of Guarany community
5. CryptocoinTalk.com Announcement thread
6. IRC Chat on Freenode
7. Reddit Guarany
The benefits of having the fundamentals correct and a well laid out plan for expansion means that the Guarany cryptocurrency has received a lot of investor confidence and interest.