What Makes Feathercoin A Formidable Alternative Currency

What Makes Feathercoin A Formidable Alternative Currency

The drama surrounding bitcoin in recent times has put the concept of cryptocurrencies into sharp focus. More and more people have become aware of the

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The drama surrounding bitcoin in recent times has put the concept of cryptocurrencies into sharp focus. More and more people have become aware of the existence of alternative currencies away from the traditional financial systems of old.

What is cryptocurrency?

This is basically a decentralized medium of exchange where encryption is used to secure the process of conducting transactions and generating units. They are used for in-person or online transactions with parties who mutually accept them. Since they are a subset of the digital currencies, cryptocurrencies do not exist in physical form. “Alt-coins” is another term used to refer to cryptocurrencies as an inference to them being “alternatives to bitcoin”.

When a transaction is confirmed and added to a public ledger, the process is referred to as “mining”. When transactions are mined, they derive the cryptocurrencies value in a system known as proof-of-work.

This article seeks to discuss basic info about a cryptocurrency known as Feathercoin.

What is Feathercoin?

Feathercoin is an open-source currency transacted through the internet. It is a powerful digital currency that has monetary properties that are linked to numerous cryptocurrencies although it is vastly different from them. In fact it is fair to say that Feathercoin is an upgrade to Bitcoin and Litecoin.

Feathercoin gives you absolute control over your money and how you spend it. The coins exist in a “digital wallet” in your computer and there are no exorbitant fees charged for transactions. Feathercoin also offers you anonymity, speed and almost zero transfer fees.

The rise and rise of Feathercoin

Feathercoin’s growth can only be described as amazing. It continues to gain broad acceptance in the business community online. Within a month of its inception, Feathercoin had gained more traction than its predecessors did in a whole year.

What makes Feathercoin so popular?

For one, miners of Feathercoin are able to generate new coins much more easily than it is with other cryptocurrencies. Feathercoin is mined using a different technique known as “Scrypt”. In this technique, keys are derived through a password-based function.

Some of Feathercoin’s great features include a simple API, nice charts and order booking. There is also an 80-point reward for every block.

How to buy Feathercoin

In order to transact with Feathercoin, a user basically needs to open an electronic wallet (e-wallet) and also register his or her details with Feathercoin. There are two ways to buy Feathercoin:

  • Using Bitcoins or the other cryptocurrencies
  • Using default currencies such as USD, Euro, GBP and others.

Bottom line

With fast and secure payments and a global platform, the sky seems to be the limit for Feathercoin. The near-negligible payment fees also mean that merchants don’t have to worry about passing on extra costs to their customers.