Darkcoin is a peer-to-peer cryptocurrency that uses a currently closed-source system called Darksend to add privacy to transactions. Darkcoin uses a new chained hashing algorithm approach called X11 for the proof-of-work. Instead of using the Secure Hash Algorithm (SHA) 256 or Scrypt it uses 11 rounds of different hashing functions.
With chained hashing, high end CPUs give an average return similar to that of GPUs. Another side effect of the algorithm is that GPUs run at about 30% less wattage than scrypt and 30% to 50% cooler, putting less stress on the computing setup and ensuring lower energy bills for miners.
Litecoin (LTC) is a peer-to-peer cryptocurrency and open source software project released under the MIT/X11 license. Inspired by and technically nearly identical to Bitcoin (BTC), Litecoin creation and transfer is based on an open source protocol and is not managed by any central authority. Litecoin is intended by its developers to improve upon Bitcoin, offering several key differences. As of November 2013, Litecoin had received extended coverage by mainstream media with agencies such as the Wall Street Journal, CNBC and The New York Times citing it as an alternative (or possibly even successor) to Bitcoin. Litecoin is the second-largest cryptocurrency by market capitalization.
BlackCoin (BC) is the first hybrid PoW/PoS altcoin to hit the Proof of Stake only stage. This means BlackCoin is unmineable and new coins will only be created by the Proof of Stake algorithm. Quick Transactions; thanks to the Proof of Stake system transactions get confirmed super quick. While other coins take up to ten minutes for their first confirmations, Blackcoin regularly has a first confirmation in ten seconds flat. Energy Efficient; since BlackCoin does not accept Proof of Work after the 10,000th block mining is not possible anymore. This makes BlackCoin highly energy efficient. Extremely Low Inflation; you will receive a 1% compound interest on a yearly basis on the coins you hold. Due to the low 1% interest on BlackCoin, inflation is extremely low.
Primecoin (XPM) is a First non-hashcash proof-of-work in cryptocurrency, and peer-to-peer open source cryptocurrency that implements a scientific computing proof-of-work system. Primecoin’s proof-of-work system searches for chains of prime numbers.It is pure prime number based proof-of-work and a form of digital currency secured by cryptography and issued through a decentralized mining market. Primecoin was created by software developer Sunny King (who also developed the cryptocurrency PPCoin) in July 2013. Primecoin was inspired by Bitcoin, and it shares much of the source code and technical implementation of Bitcoin. The Primecoin source code is distributed under a conditional MIT/X11 software license.
Dogecoin (DOGE) is a cryptocurrency featuring a Shiba Inu from the “Doge” Internet meme on its logo. It was introduced on December 8, 2013. Compared to other cryptocurrencies, Dogecoin has a fast initial coin production schedule: there will be approximately 100 billion coins in circulation by the end of 2014 with an additional 5.2 billion coins every year thereafter. As of 30 March 2014, over 65 billion Dogecoins have been mined. While there are currently few commercial applications for Dogecoin, the currency is gaining traction as an Internet tipping system, in which social media users grant Dogecoin tips to other users for providing interesting or noteworthy content. Many members of the Dogecoin community, as well as members of other cryptocurrency communities, use the phrase “To the moon!” to describe the overall sentiment of the coin’s rising value.
Peercoin (PPC) also known as PPCoin, is a peer-to-peer cryptocurrency utilizing proof-of-stake and proof-of-work systems. Peercoin is based on an August 2012 paper which listed the authors as Scott Nadal and Sunny King. Sunny King, who also created Primecoin, is a pseudonym. Nadal’s involvement had diminished by November 2013, leaving King as Peercoin’s sole core developer.
Peercoin was inspired by Bitcoin, and it shares much of the source code and technical implementation of Bitcoin. The Peercoin source code is distributed under the MIT/X11 software license. Peercoin is the fourth largest minable cryptocurrency by market capitalization. Peercoin has a market cap of $30 million USD as of Jul 20, 2014. Unlike Bitcoin, Namecoin, and Litecoin, Peercoin does not have a hard limit on the number of possible coins, but is designed to eventually attain an annual inflation rate of 1%. This feature, along with increased energy efficiency, aim to allow for greater long-term scalability
QuarkCoin (QRK) Military Grade Encryption and it is a free open source peer-to-peer electronic cash system that is completely decentralized, without the need for a central server or trusted parties. Users hold the crypto keys to their own money and transact directly with each other, with the help of a P2P network to check for double-spending. Quark is protected by 9 rounds of hashing from 6 different hash functions making it one of the most secure currencies ever designed. Quark is mined using regular PC power (CPU) and as such offers the public the fairest distribution model available.
VeriCoin (VRC) is a Proof of Stake cryptocurrency, with Proof of Work used to mine coins in the early stage. There is no Pre-mine or IPO for VeriCoin. The minimum stake time is at least 8 hours. The one highlight feature of VeriCoin is VeriFund. VeriFund is the answer to ensure stability and growth of VeriCoin. It is used to counter the inflationary effect of the proof of stake. When the supply increases, VeriFund will purchase liquid supply of VeriCoin to ensure growth and stability of the coin’s value. Another key feature of VeriCoin is VeriSMS. VeriSMS is an SMS wallet system that gives your phone capability to access the VeriCoin network.
ReddCoin (REDD) As a new form of crypto-currency,is based on Litecoin v0.8.6.2 source code and open source peer-to-peer cryptocurrency coin as well for the general public to use for tipping across popular social media platforms. Reddcoin was designed to provide everyday internet users with little to no technical knowledge the ability to obtain and use it with other users across many social media platforms.
Feathercoin (FTC) is based on Litecoin, which is safeguarded from the effects of current ASIC mining hardware, the brainchild of Peter Bushnell, the former head of IT at Oxford University’s Brasenose College. He’s working on the project full-time now. The coin has a total circulation that’s 4 times the size of litecoin’s.It has a block reward of 200 coins and will have a total of 336 million coins. This makes it four times that of LiteCoin. It joins the crypto currency family by positioning itself with Litecoin in the same way that Litecoin is aligned with Bitcoin. It does not compete with Bitcoin or Litecoin, it complements them.
Vertcoin (VTC) is a cryptographic currency, similar to Bitcoin and Litecoin, was launched in January of 2014 by a coder named “Bushido” who has worked as a developer at Accenture and Microsoft. with one major difference. Vertcoin believes that everyone who has personal computer should be able to join the Vertcoin network. As the forerunner of the digital currency movement, the original Bitcoin developers were unable to perceive all potential threats that would arise to challenge it’s mission as a decentralized currency. The coin has built-in safeguards to “punish miners who use powerful machines and work together in ‘pools’ to monopolize the mining market.