Reddcoin (RDD) Scrypt-based alternative cryptocoin

25 Jan
2014

reddcoin-logo

Reddcoin (RDD) is the social currency that enriches people’s social lives and makes digital currency easy for the general public. Reddcoin achieves this by integrating a digital currency platform seamlessly with all major social networks to make the process of sending and receiving money fun and rewarding for everyone. Redddcoin Proof of Stake Velocity is an innovative algorithm that encourages both ownership (Stake) and activity (Velocity). PoSV solves issues in traditional PoW & PoS algorithms and eliminate wasteful consumption of electricity for mining. Reddcoin decentralized Tip Platform allows people to seamlessly send & receive digital currency on Social Networks. Reddcoin Redd-ID is a unique service provided at the blockchain level which allows a user to associate a username with rich information including public keys and social network identities. Reddcoin Broadcast provides powerful crowd-sourced marketing tools to businesses and steady Reddcoin income to individuals based on their social influence level.

Website:
– https://www.reddcoin.com/

Block Explorer:
– http://live.reddcoin.com/

Coin Specifications

  • Algorithm: Proof-of-Stake-Velocity
  • Total Supply: ~27 billion RDD at the end of PoW
  • Interest rate: 5% inflation yearly
  • Min Age: 8 hours, Max age 45 days
  • Block Time: 60 Seconds
  • Difficulty Retarget: Every block using Kimoto’s gravity well

Wallet:
– Windows
– Linux
– Mac OS

Source Code:
– at GitHub

Ports:
– RPC Port: 45443

Mining Pools:
No mining pools available, the coin is now PoS only.

Coin Exchanges:
– Bittrex
– Crex
– Yobit

Real world example with Protoshare (PTS) mining

25 Jan
2014

protoshares-ypool-cpu-mining

Here is our real world 24 hour test with mining Protoshare (PTS) with CPU only in order to get an idea what profitability you can expect with the current market price for PTS. We’ve used two CPUs – one AMD and one Intel on systems that already mine Scrypt coins with video cards the idea to not waste the CPU performance we have available since Scrypt mining with GPUs does not require a lot of processor power.

The two CPUs we’ve used for mining are:
– Intel Core i5 2500K Quad Core 3.3 GHz
– AMD Phenom II X6 1100T Six Core 3.3 GHz

The pool we used for PTS mining is ypool:
– 5% fee

The total earnings for 24 hour period (confirmed + unconfirmed):
– 0.10423418 PTS

The value of the Protoshares mined for 24 hours is as follows:
– 0.00138917 BTC
– ~$1.10 USD

The end result is quite interesting as the profitability we got in USD is pretty much the same as the one we’ve managed to get in our Primecoin (XPM) mining test for 24 hours with the same CPU hardware. A bit over a dollar a day pretty much covers the extra increase in power usage, so the real profit minus the expenses is minimal. But there seems to be GPU miners already available for PTS, so the next thing is to try out these and see if it is worth to mine PTS on the GPU or there is no point since scrypt mining on the GPU will be more profitable.

Protoshares (PTS) Alternative Cryptocurrency

25 Jan
2014

protoshares-pts-alternative-crypto

ProtoShares (PTS) now called Bitshares-PTS is an alternative cryptocoin that uses a new Momentum Proof of Work (POW) algorithm that is designed to be GPU and ASIC resistant, so you can only mine them for now by using the processor (CPU). There was even a $5000 USD bounty set by the developers of PTS for anyone who can prove it is vulnerable to GPUs or ASICs, so it is only CPU mining for quite a while for these. However there are already a few implementations taking advantage of Nvidia’s CUDA architecture as well as for OpenCL for AMD GPUs, though we have not yet tested these.

THe idea to use CPUs for mining is a good one if you are already mining with GPUs for scrypt-based coins and want to be able to fully utilize your mining hardware since the load on the CPU is minimal when mining LTC or other scrypt altcoins. When talking about CPU mining the first alternative crypto that comes to mind is the Primecoin and then the Protoshares, we’ve already tested what you can expect from a day of mining XPM and we are soon going to report on our 24 hour PTS mining results. Just don’t expect to have too high profit from PTS mining at the moment, it is just some extra that you can get out of the hardware you probably already own.

Protoshares (PTS) mining pools:
http://ypool.net
http://pts.1gh.com/
http://ptsweb.beeeeer.org/
http://pts.rpool.net/
http://ptspool.com/

Protoshares (PTS) exchanges:
– Binance
– CoinEgg
– Gateio
– Crex

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