While cryptocurrencies like Bitcoin are widely popular, you may not have heard about Digitalcoin. Digitalcoin is a decentralized peer-to-peer cryptogr
While cryptocurrencies like Bitcoin are widely popular, you may not have heard about Digitalcoin. Digitalcoin is a decentralized peer-to-peer cryptographic medium of exchange. Just like Bitcoin it is not controlled by any central authority.
“Digitalcoin is designed for security, stability, and ease of use. This regard for stability is inherent in the design of the economy and in the spirit of the community.”, as stated on digitalcoin.org.
Digitalcoin has been developed through the Digitalcoin Developer Network that consists of volunteer members. The Digitalcoin Developer Network accepts new, dedicated (and skilled) members, according to bitcointalk.org.
How it works?
DigitalCoin is free to use currency with multiple vendors. With DigitalCoin. users can purchase different items including hardware, software, Steam games, food, jewelry, precious metals and more, according to digitalcoin.org.
“Digitalcoins are mined by contributing processing power to secure the Digitalcoin network. Miners receive rewards proportional to their computing power. Once the coins are mined, they can be sent and received by anyone anywhere in the world.”, wrote digitalcoin.org.
The cryptocurrency can be converted to currencies like USD, Euro, Yuan, Ruble and others. DigitalCoins can be stored on PC, Mac, Android, or Linux. Their official website also says that long term users can create a paper wallet that keeps the Digitalcoins completely off the network.
The information below summarizes the main technical features of Digitalcoin (source: bitcointalk.org):
- Algorithm – Blocks are hashed using Scrypt, x11, and SHA256 algorithms.
- Confirmations – Confirmations average 40 seconds.
- Difficulty – Retargets every block
- Mining Reward – 5 per block found. Rewards halve every three years.
- Maximum coins – The total supply of digitalcoins will balance out around 48,166,000 as block halvings occur.
- Algorithm Control – If the last three blocks were discovered by the same algorithm, the fourth block will be rejected until its found by one of the other two algorithms. This prevents directed attacks on the network from any single algorithm.
- Block Explorer – Built in block explorer allows you to look up transaction history of the network.
- Market Watch – Live market data pulled from Bittrex keeps you up to date on the digitalcoin price.
- IRC Portal – Chat directly with members of the digitalcoin community
(note: due to the nature of IRC no one may be around when you ask your question; stay logged in and be patient!)
Market capitalization and supply
As of 23 January, 2017 Digitalcoin (DGC) has a market cap of $234,067, a 24-hour volume of $509 and available supply of 34,389,793 DGC, as said by coinmarketcap.com.