AltCoins


 


Alternative Coins or AltCoins

Litecoin:

litecoin

What is Litecoin?

Litecoin is a peer-to-peer Internet currency that enables instant payments to anyone in the world. It differs from its parent Bitcoin in that can be efficiently mined with consumer-grade hardware. Litecoin provides faster confirmations (targeted at every 2.5 minutes on average) and uses memory-hard, scrypt-based mining to target the CPUs and GPUs most people already have. The Litecoin network is scheduled to produce four times as many currency units as Bitcoin.

One of the aims of Litecoin was to provide a mining algorithm that could run at the same time, on the same hardware used to mine bitcoins. With the rise of specialized ASICs for Bitcoin, Litecoin continues to satisify these goals. It is unlikely for FPGA or ASIC mining to take over Litecoin until the currency is widely used.

Namecoin

dotbitlogo


What is Namecoin

Namecoin is a peer-to-peer generic name/value datastore system based on Bitcoin technology (a decentralized cryptocurrency). It allows you to:

  • Securely register and transfer arbitrary names, no possible censorship!
  • Attach values to the names (up to 1023 bytes)
  • Trade and transact namecoins, the digital currency NMC.

There are plenty of possible use cases. Read more about Namecoin.

Other

Devcoin

Note: the latest version of this document is at: this github location.

Devcoin is the coin where 90% of the generation goes to open source developers and 10% to the miners.

The biggest categories of developers are programmers and hardware developers, writers, musicians, painters and graphic artists, and filmmakers. In each category, devcoins would go to the developers for ongoing development, and if applicable for that category, bounties. Administrators get 10% of the generation to induct new developers, to maintain the list of receivers, and to release bounties. The administrators are drawn from the developers.

Terracoin

Terracoin (abbreviated TRC) is a peer to peer decentralized currency based on Bitcoin.
Terracoin has no central issuer; instead, the peer-to-peer network regulates Terracoin balances, transactions and issuance according to consensus in network software.

Terracoins are issued to enduser nodes that verify transactions through computing power; it is established that there will be a limited and scheduled release of no more than 42 million coins.