eGulden (EFL)

eGulden is a project initiated by a group of students in the Netherlands. Their mission was to present a local alternative to the Euro and Bitcoin. In July 2014, a group of volunteers set up the Electronic Gulden Foundation. The current focus of the Electronic Gulden Foundation is community building, especially within the Dutch community.

Its approach towards addressing the 51% attack vulnerability inherent in PoW coins was through the use of an “oerushield” extension, named after two eGulden core developers. This shield entails “identified mining.” Dutch companies registered with the Dutch Chamber of Commerce can request certification to operate a certified mining pool; 1 in 6 eGulden blocks must be mined by a certified mining pool. Currently, three such pools are operational. These certified mining pools control at least 1/6 of the eGulden network difficulty.