What Is Gulden (NLG)?

Gulden is a digital asset platform that seeks to offer a safe and secure trading environment to De Nederlandsche Bank (DNB) registered users. According to its website, the Gulden blockchain network intends to be one of the safest decentralized networks in the world without large energy consumption. Moreover, Gulden claims to have an active community that ensures all queries of users are resolved swiftly. 

As per its whitepaper, the platform intends to solve problems commonly associated with blockchain networks, including double-spend, selfish mining, 51 percent attacks, centralization, and more. Selfish mining refers to the delay in broadcasting a solved block by the miner, intending to start mining another block.  Likewise, Gulden also seeks to solve issues like transaction capacity limitations and blockchain stalling due to the sudden absence of miners or new blocks. 

Gulden states that various measures, which were used to overcome the limitations of blockchain, like alternative algorithms, Proof-of-Stake (PoS), hybrid consensus mechanisms, difficulty adjustment algorithms, etc., have failed. Therefore, the platform seeks to implement an improvised Proof-of-Work (PoW) consensus mechanism, called PoW2, on the network designed to prevent 5 percent attacks. Similarly, the platform also aims to deploy a 0-conf solution, a two-layer network that would facilitate instant block confirmations when required. 

NLG is the native cryptocurrency of the Gulden platform. The token is created using an innovative mining technique, where miners need witnesses to verify and validate every block created. Therefore, the miner has to share the block in order to prevent a loss, which, the network claims, ensures that all the miners adhere to the rules. 

History of Gulden (NLG) 

Gulden was founded in April 2014 by Rijk Plasman, while the whitepaper was authored by lead developer Malcolm MacLeod. Rijk is an experienced UI designer and is the founder of Novo and Centure. The Gulden cryptocurrency has a maximum supply of 700,000,000 NGL.