Budding cryptocurrency: Feathercoin

Budding cryptocurrency: Feathercoin

It is a cryptocurrency released as an alternative to highly popular Bitcoin. It was created in 2013 and has a very small volume of trade but despite that, it is still active. This is a fork of Litecoin and has many similarities with blockchain based other Cryptocurrencies and is considered as another clone for those currencies. In spite of this Feathercoin has hung around in the market for quite a long time. The developers of this coin initially had some grandiose plans for the project like t-shirt wallet and physical coins with an attribute like laser etching.

Key attributes of feather coin

It has many similarities to Bitcoin and Litecoin but differs from them in some key areas including the following.

  • Time taken to generate a block for this is almost a minute, to confirm a transaction it takes one-tenth of time compared to the time taken by bitcoin blockchain.
  • Here the miners get the reward of forty coins for each block, the reward gets distributed among the miners in the chain who solves the puzzle.
  • About 336 million feathercoins can be created whereas 81million Litecoin and 21 million Bitcoin can be produced.

What are the other features that make it different?

To solve the aforementioned cryptographic block it uses Neosript algorithm technology instead of SHA 256 as used for Bitcoin. Compared to SHA 256 design Neoscript is less complicated and not processor intensive. At one point in time this technology was unique to feathercoin but later it was adopted by many other altcoins.

How can you mine a feathercoin?

It can be mined using the processing power of CPU and GPU since it uses Neoscript technology. It can be mined using existing hardware or through mining rig that can hash with Neoscript or similar algorithm. It is convenient for the beginners to mine it through mining pool where the reward coins get divided into the miners but for experts, they can mine on their own. Although this coin does not rank among top hundred crypto coins but has some fairly good number of active mining pools.

If mining is not your cup of tea then you can trade, buy or sell this currency for other digital currencies and even for fiat currencies like US dollar.

Like any other Cryptocurrencies that works on blockchain technology, transactions of feathercoin coin can also be viewed in real time via block explorer.  To know more please click on the link full report.