Saturday, September 9, 2017

Catching up with digital currency developments

The latest article that i posted regarding the explanation of  Andreas Antonopolous regarding the split, the segwit ,  about the fork and what  is expected with this development had given me the assurance of the continues struggle of bitcoin in the digital currency world.  Meaning since this is a new technology and with the present debate , its only a consensus within the users that will determine who is right in the new changes.  With this assurance we can continue with our goal to have the most number of bitcoins and other cryptos that we can to reach the highest as far as we can get.  ( Bear with me on getting bitcoins and other bits here on my page " Earn bits the easy way"





We will also continue with educating ourselves regarding the different issues about bitcoin , the blockchain and the other related matters to the digital eco systems.   Developments and new creations within the digital currency world is very fast and with the original bitcoin it had already reached an amount of  $4,600 /bitcoin  and the bitcoin cash with $700 / bcc . Other alt coins is also fastly having their good time.  So we also have to be fast in order to catch up we had started late but we can still learn the trade. 

We are and we will be concentrating with many alt coins but what do we know about this different alt coins ? 


Let's use this explanations from qoin pro which is a micro-wallet that gives out satoshis or bits for alt- coins for FREE. For beginners who are just starting with bitcoins and alt coins you will receive satoshis for FREE.  

What are Crypto Currencies?


The Wiki describes it well; a cryptocurrency (such as Bitcoin, Litecoin, Feathercoin, etc.) is a peer-to-peer, decentralized, digital currency whose implementation relies on the principles of cryptography to validate the transactions and generation of the currency itself.

 

A cryptocurrency is a peer-to-peer, decentralized, digital currency whose implementation relies on the principles of cryptography to validate the transactions and generation of the currency itself.

Peer-to-peer

Peer-to-peer refers to each node on the network being able to connect to any other node and act as both a server and a client sharing updates to the blockchain (public ledger) without the need for a central server.

Decentralized

Decentralized refers to the peer-to-peer architecture of the network. Because each node can act as both a server and a client, there is no need for a central server or centralized authority, thus effectively solving the double spending problem.

Digital currency

Digital currency, among its various names, is electronic money that acts as alternative currency in the digital realm (though offline adoption is increasing as well). Currently, alternative digital currencies are not produced by government-endorsed central banks nor necessarily backed by national currency.

Principles of cryptography

Cryptography relies on public and private keys for security. With cryptocurrencies every transaction has to be signed by a private key for security. Due to the strong security and well understood principles of cryptography, counterfeiting digital currencies is virtually impossible.


What are Alt-coins?


Currently there are dozens, possibly hundreds of altcoins
Altcoins are real cryptocurrency alternatives to Bitcoin. Many of them differ in some way or form from the Bitcoin and are interesting in their own right however some of them are plain copies. Listed on this page are their basic characteristics.

 List of SHA256 based Alt-coins

There are many SHA256 based altcoins. The following list is not exhaustive and only serves to give an impression about other coins available. Some of these coins can also be collected through  QoinPro.
AbbreviationNameAlgorithmTotal CoinsRetargetReward
NMCNamecoinSHA25621,000,0002,01650 NMC / Block
PPCPeercoinSHA256No Limit1103.10 PPC / Block
DVCDevcoinSHA256No Limit2,0165000 DVC / Block
TRCTerracoinSHA25642.000.000540 Blocks20 TRC / Block

 List of Scrypt based Alt-coins

There are many Scrypt based altcoins. The following list is not exhaustive and only serves to give an impression about other coins available. Some of these coins can also be collected through  QoinPro.
AbbreviationNameAlgorithmTotal CoinsRetargetReward
LTCLitecoinScrypt82,000,0002,01650 LTC / Block
DOGEDogecoinScrypt100,000,000,000240250,000 DOGE / Block
WDCWorldcoinScrypt265,420,80012050.79 WDC / Block
FTCFeathercoinScrypt336,000,000504200 FTC / Block

 List of Hybrid/Other Alt-coins

There are many altcoins not based on SHA256 or Scrypt. The following list is not exhaustive and only serves to give an impression about other coins available. Some of these coins can also be collected through QoinPro.
AbbreviationNameAlgorithmTotal CoinsRetargetReward
XPMPrimecoinOther
QRKQuarkcoinOther202 QRK / Block
NXT




The alt coins above are from qoin pro , there are still more  alt coins  
NextcoinOther