Official Launch Announcement Update

gdn

This is the official announcement for Global Denomination, A Global Crypto-currency. We are based on the Bitcoin and Litecoin Networks but with several important improvements that we wanted to implement such as the X11 Hashing Algorithm and faster transactions [1 Min Blocks]. We also wanted our crypto-currency to have a fair Launch when we announced it but we now are planning on pre-mining [0.05%](28,000 GDN) To help us create a funtioning community upon launch day.

We decided this based our experiences prior to launch that we have needed to be able to offer Denominations as an incentives to our users to interact with each other on the forum and to help build our community. Such as, Denominations for the official faucet, tips for posts in the forum, bountys for services and much more.

We are not a scamcoin that is made just to pump and dump, this decision was made to benifit the currency not the dev team.

We have target block times of 1 minute, a starting block reward of 40 GDN, rewards mature after 5 Blocks, Rewards halve after 700k Blocks. A total of 56 million GDN to be mined

The 28,000 GDN Pre-mine will be used in the following way

Total of 8,000 GDN will be used in public bounty's for services and rewards for a period of 6 months - listed in public on gdtalk.org from launch

Total of 2,000 GDN will be made availble to and then given away in the Official GDN Faucet this will be refilled from the kitty if needed

Total of 5,000 GDN will be used over 6 months for marketing, development and gaining exposure for Global Denomination - This will all be documented in the forum

This will leave 13,000 GDN in the dev kitty for forum tips, future development costs, bounty's etc - For the Dev Team to use for the long term benefit of the currency. Any allocated funds that are unused will return to the dev kitty

If we had GDN to offer our users over the last week on the forum, we are sure that we would have more than 7 forum members out of the 100's of visitors we had on the site.

We are not looking to profit from the tiny pre-mine [0.05%] , we merely want to be able to offer incentives to our users / miners during the the launch period and to aid us in the launch of Global Denomination.

We have invested alot of time, money and resources in this project as We believe that GPU miners will be looking to move to the incredibily energy efficient X11 Hashing Algorithm that our network uses. 11 rounds of scientific hashing functions (blake, bmw, groestl, jh, keccak, skein, luffa, cubehash, shavite, simd, echo)

Bitcoin and Litecoin paved the way for crypto-currencies but they have encountered many teething problems such as Large Pre-mining, Illegal Goods and the ban/s in China causing the value to drop dramatically due to the amount of Chinese stakeholders each time effecting the global community.

We feel that a new crypto-currency is needed as people with GPU mining setups, stop mining / using Bitcoin and Litecoin for the above reasons (Such as Ourselves) To mine for a new crypto-currency with a new algorithm X11 that makes it profitable to all miners and is run for the good of the community not just a quick profit.

Want to work with us? We are currently looking for talented individuals to join our team if you have something to offer please contact us and someone will get back to you as soon as possible.

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