Posts Tagged ‘scrypt’

Syscoin (SYS) Scrypt-based alternative cryptocoin

28, Aug 2014

syscoin-logo

Syscoin (SYS) is a revolutionary cryptocurrency that not only allows low-cost financial transactions like Bitcoin, but provides businesses the infrastructure to trade goods, assets, digital certificates and data securely. Syscoin isn’t just about money and trading, it has the ability to attract all business types thanks to its native set of features geared towards the financial sector. Syscoin offers benefits to everyone from eBay traders, to High Street shops and many more. Unlike other cryptocurrencies, Syscoin’s intrinsic value is derived from the decentralized services it provides directly on the blockchain. The blockchain powers all Syscoin services. It is a decentralized system of record hosted by a series of “nodes” on the Syscoin network. Syscoin trades under the symbol SYS in virtual currency exchanges.

Website:
– http://syscoin.org/

Block Explorer:
– https://chainz.cryptoid.info/sys/

Coin Specifications

  • Scrypt Algorithm
  • Total Coins: 2,000,000,000 (2.0 billion) SYS
  • Block reward: 128 SysCoin and regenerated network services fees (block reward decays on fixed schedule until rewards fixate at 32 Syscoin until 2bil coin, after which rewards are purely network and service fees)
  • Multipool protection: SysCoin uses KGW to retarget difficulty every block
  • Merge mineable with any Scrypt coin
  • Premine: 18% [up to 15% Based on Presale (SOLD OUT), 2% Devs (wallets will be publicized for transparency), 1% Bounties and Rewards]

Wallet:
– Online Wallet
– Windows
– Mac OS

Source Code:
– at GitHub

Ports:
– RPC Port: 8368
– P2P Port: 8369

Mining Pools:
– http://www.syscoin.me/
– http://sys.coin-miners.info/
– http://syscoin.cryptopools.com/

Coin Exchanges:
– Binance
– Bittrex
– Livecoin
– Yobit

VirtaCoin (VTA) Scrypt-based alternative cryptocoin

16, Aug 2014

virtacoin-logo

VirtaCoin (VTA) is formerly PayBox.me/VirtaPay, the e-currency/virtual currency platform, which was founded in September 2010 as PayBox.me and was rebranded as VirtaPay on March 13, 2011. From the launch of PayBox.me until July 1st, 2014, PayBox.me/VirtaPay has gained 1.6 Million Users. Don’t believe it yet? The first 2015 blocks where VirtaCoin was mined and sent to all of the 1.6 Million user accounts.

Website:
– http://www.virtacoin.com/

Block Explorer:
Not available.

Coin Specifications

  • Scrypt Algorithm
  • 8000 VTA coins per block, reduces by 0.5% each week starting 6/28/14
  • ~21 billion total VTA coins
  • 60 second block time target
  • Difficulty retarget every 1 block

Wallet:
– Windows
– Mac OS

Source Code:
– at GitHub

Ports:
– RPC Port: 22815
– P2P Port: 22816

Mining Pools:
– http://p2pool.e-pool.net:8934/static/
– http://www.coin-miners.info:8080/tbs
– http://vta.coin-miners.info/

Coin Exchanges:
– Bleutrade

Litecoin Network Difficulty Still Rising Seriously

9, Jul 2014

litecoin-network-difficulty-on-the-rise

With the shipment of more and more Scrypt ASIC miners the network difficulty is still on the rise and the percentage it increases at each difficulty readjustment is increasing as well. At the same time the price of the Litecoin remains under $8 USD with the most likely reason being that there are more sell orders and buy orders due to new miners willing to get as fast as possible ROI of their ASIC mining hardware. As a result these people mine LTC and sell it immediately and thus the exchange rate is going down and people start panicking about the future of Litecoin. This also makes more and more people rethink their plans for purchasing, especially on pre-order, new Scrypt ASIC miners.

What you can do to actually get better profit mining LTC and at the same time help in bringing the exchange rate up and not down is to mine in multipools such as LTC Rabbit and Coin King and others where you mine the most profitable Scrypt coin and can get payments in Litecoins. This helps LTC in a way that you are usually getting slightly higher profit than directly mining for Litecoins and the miner altcoins are sold for BTC and the earnings in BTC are used for purchasing LTC. This creates more buy support for the Litecoin, though it might not be as good for other alternative Scrypt crypto currencies such as DOGE that is suffering quite a lot because of this mining method used by multipools. Do note however that mining in a multipool does not always mean you will be getting better profit as often the pool might be mining directly for LTC if there is no more profitable alternative crypto currency.


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