What Is Global Token (GLT)?

Global Token (GLT) describes itself as a multi-algorithm cryptocurrency that supports 60 mining algorithms. As mentioned on the website, Global Token is self-proclaimed as one of the largest proof-of-work cryptocurrencies, supporting the most algorithms of any cryptocurrency.

Global Token utilizes peer-to-peer technology and operates without the involvement of any central intermediary. The network is in charge of managing transactions and issuing money collectively. Global Token aims to provide the following features:

• Faster Transactions: Fast confirmation times are one of the key characteristics of a token designed for everyday use. Transactions involving Global Token can be confirmed in as little as 60 seconds. Users can instantly send GLT across wallets using the Instant Send feature.

• Low Transaction Fees: The goal of crypto is to decentralize payments in order to reduce total fees. Considering this, GlobalToken is committed to keeping transaction fees as low as possible.

• Provably Fair: Global Token is established on the principle of fairness, as there is no pre-mine. GLT has a unique opportunity to build a huge organic community that can support strong and stable growth in the future because there is no large coin supply.

• Difficulty: Every minute, a block is mined, and with each block mined, the PoW difficulty is adjusted by the GLT network.

• Coin Supply: GLT has a maximum total supply of 168,000,000 coins. With more coins, GLT can build a secure peer-to-peer (P2P) network while also ensuring sufficient traffic for the community.

• Safety: A large token supply of GLT ensures a safe P2P network. GLT also divides the hash power to 60 mineable algorithms, which makes 51% attack impossible. A 51% attack takes place on a blockchain when a group of miners controls more than 50% of the network's computing power. 

History of Global Token (GLT)

Global Token was created in 2016. As mentioned on the website, the core team of Global Token includes: 

• Pawel is the developer/founder of the token. He has experience in C++, C, C#, PHP, jQuery/Ajax/Javascript, Java, SQL, HTML, and CSS. 

• Astrali is the community moderator of the token. He moderates the Telegram and Slack communities. 

• Tetteh is a member of the support and management team. He helps with community correspondence and assists with the management of the project.

How Are New GLT Tokens Created?

New Global Tokens are created with the proof-of-work (PoW) mechanism. PoW is a method used in blockchain to confirm transactions and add new blocks to the chain. When users exchange tokens on a network, all transactions are organized into blocks on a decentralized ledger, or a blockchain. However, extreme caution should be exercised in confirming transactions and arranging blocks. The burden for this falls on particular nodes known as miners, and the process is known as mining. Miners compete against one another in PoW to execute network transactions and get rewards. As the value of cryptocurrency grows, more miners are incentivized to join the network, increasing its security and power.