Critics often dismiss memecoins as mere jokes, lacking serious backing or structured plans.
Dogecoin initially started as a jest, yet people poured investments into it. By the tail end of 2020, as Dogecoin gained some momentum, it was still largely derided as a simple meme by many in the crypto world.
However, on May 8, 2021, Dogecoin soared to its peak value at $0.7376. Despite this, the lackluster tokenomics typical of a project without a clear roadmap curbed its growth potential.
Still, memecoins can balance their meme nature with strategic foresight and sound tokenomics. Take for instance... Garlicoin proves.
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The memes of Garlicoin
A few years back, garlic bread was all the rage, with people globally sharing memes on the topic.
As cryptocurrencies like Bitcoin captured the public's imagination, it sparked the notion of a garlic-inspired digital currency.
Back in December 2017, a Reddit user with the alias DigitalizedOrange took to the platform with an intriguing promise: The initial post provocatively stated, 'If this garners 30,000 upvotes, I'm committed to launching Garlicoin, a garlic bread currency,'
This momentum led to the support and eventual creation of Garlicoin—fulfilling the meme-inspired cryptocurrency vision.
By January 2018, the creators unveiled the Garlicoin mainnet, the first block, known as a genesis block, encoded with the memorable text:
The message encoded was: 'If this post gets 30000 upvotes, I'll create a garlic bread cryptocurrency called Garlicoin'
The harsh crypto winter swiftly followed, yet Garlicoin endured, with its community refusing to let it vanish.
Through constant advancements, the Garlicoin project has grown, and its community has swelled to over 100,000 Reddit members.
Here’s how Garlicoin works
Garlicoin thrived during lean times, thanks to a dedicated community and a project designed for scalability and user-friendliness.
The team decided to fork Litecoin, making innovative tweaks to birth Garlicoin.
Utilizing the Allium proof-of-work consensus, Garlicoin ensures decentralized mining by facilitating GPU/CPU mining while prohibiting ASIC device involvement, thus promoting network fairness.
Incorporating Dash's DWG difficulty adjustment enhances decentralization by tweaking mining complexity relative to hash rates.
Garlicoin's blockchain supports rapid transactions with a mere 40-second block time.
With a total supply cap of 69 million GRLC and nearly 64 million already mined, Garlicoin experiences zero inflation—and has pierced the $0.1 mark, boasting a modest $7 million market cap.
Garlicoin continues to make strides, witnessing both a thriving community and systematic project updates.
Garlicoin developments
Eventful development during the Crypto winter included deploying tipbots across Reddit and Discord, code revamping, and securing exchange listings.
In 2021, new developments came with a free GRLC faucet, a WGRLC BEP20 token on the Binance Smart Chain, and Pancakeswap listing.
Garlicoin's ecosystem grows as developers prepare to integrate their token into... Garlic retro game on Steam.
Upcoming gaming events promise monthly contests, offering rewards as high as $100 to victors.
Starting 2022, Garlicoin will fortify ties with gamers by releasing a Garlicoin-integrated game and engaging in gaming contests.
Ultimately, as community activity rises, so too does the dynamic flow of memes, positively impacting GRLC's market trajectory and laying the groundwork for significant price surges.
