Galilel is alot more than just another cryptocurrency.
It’s a POS Coin, using swiftX and zerocoin protocoll for fast, private and secure transactions.
There is no specific use case, the coin itself is meant to be a general purpose coin.
Galilel is a community driven project with developers that have passed the “know your developers” (KYD) verification. The main goal of this Project is to create a decentralized fully secure and anonymous network to run applications .
What makes Galilel Coin different from most coins are it’s big list of features. This list of features makes this coin a true alternative to fiat currencies. I’m going to list these features and explain them as good as i can further below.
- Dynamic Zerocoin Proof-of-Stake (dzPoS)
- Proof-of-Transaction (ghPoT)
- Hybrid Proof-of-Stake (ghPoS)
- Term Deposits (gTD)
- Money Supply Control (gMSC)
- Instant On Masternodes (gIOMN)
“Dynamic Zerocoin Proof-of-Stake” is a bit different from the normal Zerocoin POS introduced by the PIVX team. Rewards from staking galilel zerocoins will be based on the current blockchain phase.
“Proof of transaction” makes it possible for recipients to create invoices and assign a specific amount to those invoices.
“Hybrid Proof-of-Stake” will extend the normal Proof-of-Stake with mobile staking capabilities.
The “Term Deposits” function will allow users to lock away a minimum of 5000 Coins for a year and generate rewards. Those rewards will be accessible when the period time is over.
“Money Supply Control” is a mechanism to combat the unpredictability of Value with its Proof of Burn mechanism, which is a decentralized approach to burn coins from staking rewards. Masternode owners get to vote for reward reduction or complete burning for a specific period to reduce coin generation.
“Galilel Instant On Masternodes” makes setting up masternodes easier than ever by implementing a shared blockchain to run one-to-many wallet daemons. This means you can have shared masternodes while every investor keeps his part of the collateral in his wallet.
If you want more detailed informations about these features, you need to check out the Galilel whitepaper.
The Price of this Coin is currently low. 15.000 Coins are needed for a masternode. This coin will have a very interesting future. I can’t wait to see what will come. The developers are very competent, the “fake stack” exploit got fixed by them almost immediately, which is incredible.
You should visit their website and check out their roadmap, a lot has been done and a lot is going to be released in 2019. The android wallet will be released in Q1 2019 for example.
Many thanks to Maik Broemme aka Babyface, Founder & Developer Of Galilel for giving me information and also explaining some of the things mentioned here.