Lists of Virtual Currencies

arrana

Samurai
Please post additions to this list of Virtual Currencies.


In the news there is a lot of attention to BitCoin but it is only one of hundreds of crypto currencies currently being traded on the currency exchanges. Here is a partial list:





AlphaCoin
AnonCoin
AnonCoin
Argentum
ASC
AstroCoin
Auroracoin
BBQCoin
BetaCoin
BitBar
BitBar
Bytecoin
CHNCoin
COIN
Coino
CraftCoin
Darkcoin
DevCoin
Devcoin
Diamond
Digitalcoin
Dimecoin
DogeCoin
EarthCoin
ElaCoin
eToken
Extremecoin
FeatherCoin
Feathercoin
Fedoracoin
FlappyCoin
Franko
FrankoCoin
FreiCoin
Gamecoins
Globe
HashCoin
HoboNickels
InfiniteCoin
IXCoin
JouleCoin
Junkcoin
Karmacoin
Kittehcoin
KlondikeCoin
KrugerCoin
Leafcoin
LiquidCoin
LiteCoin
LottoCoin
LuckyCoin
MasterCoin
Mastercoin
MegaCoin
MemeCoin
MetaCoin
Mintcoin
MoonCoin
NameCoin
Namecoin
NetCoin
NobleCoin
Novacoin
NXT
Nyancoin
Particle
PeerCoin
PPCoin
PrimeCoin
PWC
QQcoin
Quarkcoin
Ripple
RonPaulCoin
RoyalCoin
Sexcoin
Smartcoin
Teacoin
TerraCoin
Tonal BitCoin
Unobtanium
VertCoin
WorldCoin
Yacoin
ZetaCoin

 

arrana

Samurai
ZeroCoin

Another alt coin- ZeroCoin.

ZeroCoin is being created by four Johns Hopkins University (Baltimore, Maryland, US) with Massachusetts Institute of Technology (Boston, Massachusetts, US) researchers and will launch May 2014. Originally, ZeroCoin was planned as an extension to the BitCoin protocol to make BitCoins even more anonymous and untraceable, but in November 2013 the team decided to make it a standalone currency.
The ZeroCoin developers advise having an anonymous web browser whenever the coins are used. Zerocoins can also be used with BitCoins to make BitCoin transaction more untraceable. It does this by automatically pooling coins much like a tumbler service does.


From: http://www.coinmonkey.com/tag/cryptocurrency-2/








How does ZeroCoin affect for Money laundering? At this time (pre launch) it believed that each ZeroCoin is indistinguishable from any other ZeroCoin and that particular characteristic should add to the untraceably factor. But if that is the case, then all ZeroCoins would have to be the same denomination and could not be broken down into price increments, as BitCoin can. All ZeroCoin transactions would have to be whole ZeroCoins and that fixed prices could be tracked more easily.

The ZeroCoin development paper can be found at http://spar.isi.jhu.edu/~mgreen/ZerocoinOakland.pdf
 

arrana

Samurai
DogeCoin

DogeCoin is fast becoming the # 2 crypto currency on the exchange markets behind BitCoin. It is the crypto currency whose symbol is a Shiba Inus breed dog nicknamed “Shibeâ€. Acceptable pronunciations of DogeCoin include “dohjâ€, “dogâ€, and “dog-eeâ€. But most DogeCoin users refer to themselves as “Shibesâ€.

The currency was created by a Portland, Oregon by a programmer, Billy Markus, just three months ago (December 2013) and circulation is estimated at 75 billion coins as of March 2014. One US dollar is worth 1,370.35 DogeCoins (Doges) at today’s rate of exchange. In perspective, it would take DOGE 812,182.74 to buy one BitCoin. Because of the large number of Doges needed for payment the term “Mega Doges†is used to denote prices.
DogeCoins are unique among the crypto currencies as it prevents “dust transactionsâ€. Dust transactions occur when an extremely small amount of a currency’s coinage is involved in a transaction. The recording of all transactions, no matter how small, lengthen a currency’s BlockChain (the public record of all transactions) and all users have to be updated. The process of constant updating and recording of these miniscule and mostly unnecessary transactions is viewed as a type of “spammingâ€. To prevent this, DogeCoin has developed its code to only transfer whole Doges. So one Doge is only worth one Doge-no partial Doges can ever be accepted.

Let’s compare Doges to a fiat currency. AS an example, a USD equals 100 American pennies (cents). One penny by itself cannot be split into divisions, but put enough of them together and you can buy something. The amount $ 1.43 USD means that there are 143 pennies in the price but it is easier to call a hundred pennies a dollar with forty-three cents. Same thing with Doges and Mega Doges.
This is why mining so many Doges have been planned in the currency coding. More Doges in circulation pushes down the exchange price but manages to keep DogeCoins as a viable currency for transactions.

Lately, DogeCoin has been getting a lot of press because of its community of users donating money to send the Jamaican Bobsled Team to the Olympics in Sochi and providing donations for fresh water development in Kenya. Its foundation website at http://foundation.dogecoin.com/projects/ lists the different charities that DogeCoin supports.

Its website is at http://dogecoin.com/ and lists DogeCoin resources.
 

arrana

Samurai
This article summary contains some interesting statistics on growth of virtual currencies.

From: http://www.thehindu.com/business/In...-outnumber-real-currencies/article5822290.ece

Bitcoin gang nears 200-member mark; outnumber real currencies

The world now has a larger number of virtual currencies than a total 180 recognized currencies in different parts of the globe, notwithstanding issues like bankruptcies and growing regulatory unease about bitcoin and its other digital peers.

Within an ear shot of the 200-member mark, a total of 193 virtual currencies are currently being traded across the internet, although none of them carry an official stamp from the government or banking regulator from any of the countries.

While bitcoin and other such currencies began coming into existence about four years ago, a frenzied proliferation in last two months has more than doubled their count, shows an analysis of data available with various online marketplaces for such currencies.

Apart from bitcoins, ripple, litecoin, auroracoin, peercoin and dogcoin have seen steady pickup in volume as well market value. The latest additions include teacoin, aliencoin, magic internet money and heisenberg.

The proliferation of new currencies is being linked to the complexities involved in the way bitcoin is ‘mined’ The newer avataars are comparatively much easier to create, word-of-mouth publicity and a rush of speculators has ensured they are catching up much faster, dealers said.
Bitcoin, accounting for over two thirds of total virtual currency volume, has fallen the most to an average price of USD 600 from lofty highs of USD 1,200 apiece in late 2013 after trading below USD 100 for most part of 2013.

According to market estimates, the collective valuation of all virtual currencies put together has dropped below USD 10 billion level, from about USD 13 billion at the beginning of this year.

At end of December 2013, there were total 67 virtual currencies in the market, while their number was in single digits about four years ago as virtual currencies could not strike a chord among users amid a global financial crisis.

The rapid growth of virtual currencies has also shone light on the illegal acts being committed with such systems.

From being used in Ponzi schemes, as ransom for holding files hostage in computers and to facilitating criminal transactions, virtual currencies are the medium of choice for anonymous faces looking for a way to transfer monetary values across the world without being detected, say regulatory officials.
 

arrana

Samurai
Einsteinium: A New Digital Currency

A new alt coin was launched in March2014 and is dedicated to raising money for scientific research around the world.
The Einsteinium website is located at http://einsteinium.org/the-coin/

More from the Einsteinium Website:

About the Einsteinium Foundation

The Einsteinium Foundation was created to help, in any small way it can, raise funding for cutting edge scientific research. To this aim we created Einsteinium, a new crypto currency (similar to Bitcoin), to gather funds that can be distributed to projects the community chooses. Combined with donations from the community at large we will help fund some of the most innovative projects currently under-way or help seed those waiting to start.

The Goals


The principle tasks of the Einsteinium Foundation will be to:

• Oversee the community’s monthly selection of any project whose goal is that of securing a better tomorrow for either specific communities or planet Earth as a whole, through the advancement of science

• Ensure that the funds collected through both mining and donations will be sent to their community-agreed-upon destination.
Each month a small selection of projects the foundation thinks is worthy, in addition to those suggested by the community, will be made available for voting. Voting will be held during the last few days of each month. Once the poll is concluded the funds will be sent over. The only restriction as to which projects/organizations are eligible for inclusion within the monthly selection is that the proposed project aims to help build a better, safer future through strengthening our grasp of science. There will be no restrictions as to who is eligible for inclusion in the monthly selection for voting, the only criteria is that the science involved is pushing our understanding forward and could build us a better, safer future. From helping to fund simple Kickstarter projects to the fight against malaria as seen in The Gates Foundations, the Einsteinium Foundation as well as the Einsteinium community will reach a monthly consensus in regards to which new organization will receive funding.

Einsteinium trades under the ticker code [EMC2].

Exchanges Trading Einsteinium

https://poloniex.com/exchange/btc_emc2
https://prelude.io/trade/btc/emc2
https://www.allcoin.com/trade/emc2_btc
https://www.cryptoaltex.com/index.php?page=trade&market=12
https://pmtocoins.com/index.php?page=trade&market=43
https://www.coinader.com/
https://www.lazycoins.com/ (coming soon)
https://www.mintpal.com/
 

arrana

Samurai
Karmacoin: What Goes Around Comes Around

The motto of the new crypto currency Karmacoin is “ Doing Good is Goodâ€. According to its Los Angeles (US) based developers the coin was launched in February 2014 as a way to reward others for doing good work. At this time, Karmacoin can only be purchased with BitCoins on only certain websites.

Karmacoins’s website can be found at http://www.ikarmacoin.com with a list of resources. At today’s rate one Karmacoin equals 0.00000001 BitCoin. A Karmacoin mining calculator can be found at http://www.coinwarz.com/calculators/karmacoin-mining-calculator .

Two days ago the Karmacoin creators set up a system to use Twitter to “tip†someone with Karmacoins for being nice.

From: http://www.cnbc.com/id/101560760

Bitcoin Alternative Karmacoin Announces Peer-to-Peer (P2P) Tips and Rewards via Twitter
Monday, 7 Apr 2014

Karmacoin, the Digital Currency for Rewards, Makes It Easier to Tip People Online

Karmacoin today announced a new service that will allow anyone on Twitter, the popular social networking website, to send tips to other users.
The service allows Twitter users to seamlessly gift Karmacoin, a digital currency which has grown in popularity since its launch in February, by typing a simple command into their Twitter boxes.

“This is only the beginning of a future where online tipping is more fully integrated into the social experience. It can lead to more engagement and a higher level of quality content for everyone,†said Tony Sorel, Director of Karmacoin.

With this new service, Karmacoin will tap into its core technology, Karma Rewards, to deliver Karmacoin-branded rewards to users across the internet.
"Our technology being used on one of the internet’s biggest platforms is a substantial step forward in our effort for Karma Rewards to become synonymous with both online and offline reward programs," said Mr. Sorel. "We will soon be announcing a pilot program for SMEs, retail shops, and schools to take advantage of these reward mechanisms using their own platforms."

The announcement follows closely on the heels of Karmacoin’s “Shout for a Cause†campaign, which raised nearly $2,500 in tips in 24 hours for an organization in Kenya that provides 400 orphan children with food and education.

“With this new method of performing online micro-transactions, we hope that Karmacoin will take the lead not only with rewarding people via tips but also as a way to pay for micro-content and make micro-donations,†said Tony Sorel.

Karmacoin Key Features

• Secure and anonymous transfers
• Funds transacted in seconds and automatically verified in minutes
• Every transaction is recorded on a publicly-accessible ledger
• Credit card-like chargebacks are not possible, protecting merchants and charities
• Transaction costs for transfers essentially free
• Ability to transfer digital wallet to paper

About Karmacoin

Founded in 2014, Karmacoin is a P2P digital currency, like Bitcoin. Its system is designed to be used as an incentive and reward mechanism for people, companies, and schools. The Karmacoin mission is to make it easy to send any amount of money to friends, family, co-workers, neighbors, students, employees, charities, and others over the Karmacoin network securely and reliably.
 

arrana

Samurai
Beebcoins : How one man minted his own currency

A reporter with the BBC News decided to try to create his own currency using the services of the website Coingen.io.

From: http://www.bbc.com/news/technology-27143341

How to mint your own virtual money


The difficulty involved in mining Bitcoins is making many people try other crypto-currencies

I am the richest person in the world but, sadly, only when it comes to Beebcoins.

That is the name of the virtual crypto-currency I created to see how easy it is to leap on the virtual cash bandwagon.

That bandwagon briefly propelled each Bitcoin, the best known crypto-currency, to be worth about $1,200 (£715). Currently each virtual coin trades for much less than half of the value of that November 2013 peak.

It is a bandwagon that others, notably Litecoin and Dogecoin, have jumped on to as well.

More are leaping aboard every day according to figures gathered by crypto-cash tracking site Cryptsy which currently lists more than 170 virtual currencies.
"Most of the new crypto-currencies which have come into existence since the advent of Bitcoin are basically Bitcoin-duplicates with a different brand name," says economic historian Garrick Hileman from the London School of Economics.

"Because Bitcoin is open source anyone is free to 'copy and paste' Bitcoin's core software protocol to create a new crypto-currency."
Many of those newer virtual currencies have sought to outdo Bitcoin by sharpening up the computer code behind the currency to avoid some of the technical troubles that dog the market leader, he says.

BBC bucks


Talking about alternative crypto-currencies, which are known as alt-coins, made me wonder how easy it is to create one.

Jeff Garzik, one of Bitcoin's core developers, told me; "It is trivial to create your own currency. It doesn't really take much programming skill, even."

Mr Garzik pointed me towards Matt Corallo who is behind the Coingen.io website that makes it very straightforward to roll your own money.

The first step was to get hold of some Bitcoins to pay the small fee Mr Corallo charges for a copy of the coin-generating software.

This proved a hurdle because it is difficult to buy Bitcoins quickly. I was keen to put a layer of security between me and whoever I bought them from so ended up using the Barclays Pingit app on a smartphone to buy coins via the BitBargain website.

Mining virtual coins can cost more in electricity than you can make cashing them in

With Bitcoins safely in my digital wallet I transferred a few to Mr Corallo and, like many hundreds of others, filled in the form that defined how my coin, now dubbed Beebcoins, would work.

I decided there would be a maximum of 21 million Beebcoins, picked an abbreviation (BBC), uploaded a logo and made some choices about the technical innards of the Beebcoin system.

The next step was to install the software on several computers and then get them talking to each other to form the little network needed to mine the coins. Crypto-currencies are inherently community-based and I happen to have enough computers at home, seven at the last count, to form that community and get mining.

Coingen provides precious little in terms of support so I scoured the web for help and found a checklist to run through to get the network humming.
I typed commands into the command line, helped the machines see each other and connect on my home network and got each one doing the complicated maths to generate coins.

Within 20 minutes the first message popped up telling me some coins had been mined. Sadly, that did not mean I could spend or share them straight away.

Instead the Beebcoins had to "mature" - this meant that any computer had to complete a lot more mining work before it was rewarded. There is no free lunch with an alt-coin.

In total, it took the machines I used more than six hours running at full speed to complete the work needed to get those coins to mature. I now have thousands of the things. I wonder what I've spent in electricity to do all that work?

It struck me then that if I wanted to turn Beebcoins into an actual currency it would take much more than just computers. It would require a marketing job to get people to value the coin and back it with more computers or even real cash. Also needed would be people with far better web-programming skills than mine to add a friendlier layer to that virtual cash-generating system.

The sheer hard work involved in getting beyond the basics was exposed by tech news site Ars Technica which created its own crypto-currency - Ars Coins. It recruited a few developers to help and even so hit real problems when it rolled out the currency to readers. Solving them and then getting people to buy in was hard. Even then the only reward it could offer Ars Coin miners was special icons on messages they post to the magazine's discussion forums.
For me the Beebcoin experience has given me a greater understanding of how crypto-currencies work and why some of them fail and others succeed. The value of these virtual currencies lies, like the real things, in what people are willing to pay for them.

That's perhaps why so many of these alt-coins revolve around an online community as people are already invested in that group and have a ready need to reward the good behaviour of other members.

At the moment, Beebcoins have zero monetary value unless there is someone out there that wants to take the network off my hands. One careful owner. All offers considered. Going cheap.
 

arrana

Samurai
Minacoin : The first crypto currency backed by Gold

Here is an interview with two of the founders of Minacoin explaining how a gold- backed crypto currency could work..

From: http://www.examiner.com/article/the...e-gold-standard-for-crypto-currencies-is-here

The first digital equivalent of the gold standard for crypto-currencies is here
May 6, 2014

Mina Financial Inc., a privately held Toronto-based financial services innovator, announced today the next generation in crypto-currencies named “Minaâ€￾. Minacoin is the first digital currency of its kind to be asset backed, with physical gold bullion held in reserve to support its value.

I had an opportunity to have a Q & A session with co- founders, Melvin Ng and David Gallo, of Mina Financial Inc. via email.

Q. Tell us about Mina Financial and your vision for the gold standard backed digital currency and how will you secure the process?

A. When Minacoins are issued, the receipt from the Bitcoin conversion is cryptographically verified and stored utilizing Bitcoins innovative blockchain technology. Minacoins offer a safe and quick way for people to exchange receipts of gold peer-to-peer. The security is the advantage of the full benefits of gold in addition to the benefits commonly associated with Bitcoin.

Unlike Bitcoin where the value is not stable and considered a risky investment, Minacoin is 100 percent backed by gold and at least 90 percent of the total net assets are always stored in physical gold bullion, David added. Only Bitcoin is used for purchase at this time.

Similar to Bitcoin, Minacoin is capped at 21 million coins to be distributed, and is backed by two 400 ounce bars of gold, totaling $1,050,000 USD, thus pegging Mina coin's value at $0.05 per coin.

Q. Are purchased Minacoin held in “cold storageâ€￾ offline like Bitcoin?

A. Minacoin can also be held in "cold storage" similar to Bitcoin.

Q. What procedures are you installing for transparency and compliance?

A. One distinguishing feature of this venture, and more broadly our organization, is our emphasis on transparency and regulatory compliance. To this end, we have retained the counsel of KPMG, a globally recognized consulting firm, for auditing purposes.

Q. What is Minacoin’s legal standing in Canada?

A. At the moment, Bitcoin is considered a commodity similar to gold or silver. We suspect that Minacoin will fall in the same category; however we have been seeking further clarification on this issue.

Q. Are there any other particular details that you’d like to release today?

A. Instead of doing a sale, we plan on doing a pre-order and message people via the blockchain once we gain further clarification on the legal status of the coin. It will be posted on the website.

Melvin Ng added: Throughout the last few years Bitcoin and its competitors in the market have opened people’s eyes to the benefits of crypto-currencies and financial transactions through a decentralized network, but not without major hurdles. With the combination of Bitcoin technology and Mina gold bullion, we envision bringing together the best of both the old and new worlds to solve the largest problems associated with previous crypto-currencies.
Mina Financial Inc. was founded by a group of forward thinking Bitcoin entrepreneurs passionate about the future of cryptocurrency. The two original founders Melvin Ng and David Gallo provide a combination of their skills. Melvin Ng has had several businesses since the age of 10. He previously operated Canada’s second largest Bitcoin exchange while pursuing a degree in computer engineering at the University of Waterloo.
David Gallo owns and operates 7L Networks, Inc., a data center and hosting company founded in 2003 and serves a global customer base on its Infrastructure as a Service (IaaS) platform.

To find out more about Minacoin information can be found at their website.

(NOTE: The Minacoin website is at http://www.minacoin.com/)
 

arrana

Samurai
New York Coin

The advantage to using New York coin is faster payment transactions (four minutes versus forty with Bitcoin)

From: http://www.digitaljournal.com/pr/1898164

New York Coin an Alternative for Bitcoin

Crypto Currency for Secure and Faster Transactions

New York, NY -- (SBWIRE) -- 05/06/2014 -- Benefits of safe, secure and faster transactions have paved way for use of digital currency among customers and businesses. People in New York City have found an alternative in the form of New York Coin for bitcoin which is largely used and accepted by various merchant communities across the world.

New York Coin launched in 2014 with an in build advantage that provides faster transactions and is based on Litecoin source and resembles Dogecoin when it comes to specifications. It is supported by the New York Coin Foundation that brings together people from different groups such as developers, merchants, investors, miners, entrepreneurs and libertarians together and is working towards spreading awareness of the benefits about the currency and its usage among merchants and shoppers alike.

Apart from being listed on major crypto currency exchanges like Bittrex, Bleutrade exchange and Xnigma crypto exchange, there are promotions and bounties offered to encourage its usage and increase its growing popularity. The New York Coin Foundation is working with the goal of making BTC and NYC the most accepted digital currencies in the City. Their goal is also to provide improved user experience and find ways for additional adoption of the new digital currency widely across the community. With an “airdropâ€￾ promotion offering 10,000,000 FREE NYC and NYC sticker that can be posted in their window to the first 100 New York City businesses who accept the coins and offering 1,000,000 FREE NYC to any New Yorker able to find and snap a photo of a newyorkco.in sticker that are posted all around Manhattan, the Foundation is finding innovative and different ways to promote the coins and attract users.

New York Coin is a great alternative when it comes to Bitcoin usage as it offers faster transaction confirmations which ensure high security, better fraud protection and a viable retail payent method. With well-known altcoin exchanges showing interest in adding new york coin to their portfolio, this currency is creating a niche of its own in the world of digital currency.

About New York Coin

New York Coin is a new digital currency launched in March, 2014 based on Litecoin source with similar specifications to Dogecoin, but offering faster transaction verification. It is listed on major crypto currency exchanges online and The New York Coin Foundation that supports the proliferation of the coin is aggressively working towards bringing awareness about the currency and benefits of use across merchant communities and customers through innovative promotions and bounties.

Media Contact

The New York Coin Foundation New York, New York

Ph: 800-521-4535

URL: www.newyorkco.in

Charles Kartchner, Founder
Email: newyorkcoinfoundation@gmail.com

For more information on this press release visit: http://www.sbwire.com/press-releases/new-york-coin-an-alternative-for-bitcoin-502222.htm

Media Relations Contact

Charles Kartchner
founder

The New York Coin Foundation

Telephone: 800-521-4535

Email: Click to Email Charles Kartchner (redirects to a box form on http://www.sbwire.com/press-releases/contact/502222 )

Web: http://www.newyorkco.in/
 

arrana

Samurai
Ripple Explained: Medieval Banking with a Digital Twist

From: http://www.coindesk.com/ripple-medieval-banking-digital-twist/


Ripple Explained: Medieval Banking with a Digital Twist
May 11, 2014

What is Ripple? Well, it is both a digital currency and a payments protocol, and it is the latter that has got people excited.

Ripple has been hitting the news recently, with banks saying it has promise, and even for the first time starting to use it for services. But many people don’t understand it, so how does it work, exactly?

A good parallel is the hawala network – a traditional, non-digital way of sending money from city to city. Hawala has its roots in medieval Arabia, and is still in use today in places where banks won’t or can’t operate.

A medieval banking system

Hawala is best described as money transmission without money movement, providing the appearance of instant remittance between separate locations; for example, sending money between different cities or countries.

In the basic case, say Alex wants to send money to Beth:

• Alex goes to his local hawala agent and gives him some cash and a password, which he and Beth share.
• The agent telephones Beth’s local agent and tells him to release funds to someone who can provide the password.
• Beth walks in to her agent, says the password, and receives cash. Commissions can be taken from either or both agents.







Note that money has been transmitted from Alex to Beth, but the physical notes have not moved. We are left in a situation where Alex’s agent owes Beth’s agent money.

They can either settle the debt later, or hope that there may be reverse transactions if other clients want to move money in the opposite direction.

Also note that trust is involved. In this scenario, there are three trust relationships:

1. Alex has to trust that his agent will do the right thing, as he is handing over cash.
2. Beth has to trust that her agent will do the right thing, as she is expecting to receive cash.
3. The agents need to trust each other over the repayment of the debt (IOUs).

Moving to Ripple

Now we can have websites or shops that perform the function of agents, and instead of agents phoning each other, we can communicate the IOUs electronically.

This is how Ripple works: Alex logs on to his preferred Ripple gateway, deposits money to it, and instructs them to release funds to Beth via her gateway. Beth collects her funds.

You now understand Ripple. Simple eh?

Not just cash

In the example above, we talked about cash. Now this can also work with physical gold.

So long as both gateways are prepared to accept and hand out the precious metal, and the gateways have a trust relationship that allows the IOUs of gold (as opposed to IOUs of cash in the first example), the network still works, and you can transmit gold.

Alex gives gold, Beth receives gold, and Alex’s agent owes Beth’s agent gold.

You now understand that Ripple can work for gold, not just money.
Anything goes

Now replace the word ‘gold’ with ‘anything’.

Now, you can transmit anything without moving it, so long as both gateways are set up to deal in it.

This works best for non-perishable, fungible goods (cash is good, gold is OK, as are cryptocurrencies, but can also be extended to beer and flowers, if the gateways want to deal in them.

You now understand that Ripple can transfer anything.


Conversion of goods

If either gateway is prepared to exchange cash with gold (ie: act as a gold trader, or ‘market maker’ in Ripple terminology), then Alex can put cash in at his gateway and Beth can get gold out at hers.

You now understand that Ripple can also morph stuff.

No direct trust? Find a chain


What if Alex’s gateway doesn’t have a trust relationship with Beth’s gateway?

So long as there are intermediary gateways who can form a chain of trust for the object being passed (cash, or gold, or whatever), the transaction will work.
The Ripple algorithm tries to find the shortest trust path between the gateways. So, thinking back to hawala, Alex’s agent may not trust Beth’s agent, but there may be a third agent who trusts the other two. So there will be two IOUs: Alex’s agent owes the third agent, who owes Beth’s agent.




No chain of trust? Use ripples.

What if the network can’t find any chain of trust between the two gateways at all for the cash or goods in question?

This is where ‘ripples’ (XRP) come in. XRP is the ‘currency of last resort’ for the ripple network.

All gateways provide a price in XRP of anything they deal in (for example: a dollar is 200 XRP; 1 oz of gold might be 260,000 XRP).
You could say, USD is the currency of last resort in the USA – that is, everything has a price in USD.

This means, within the Ripple network, you can convert anything to a number of XRPs, transfer the XRPs via the trust chains, then convert back at the end gateway, if needed.

XRP is not just a currency of last resort

As well as being a ‘bridging currency’ or a ‘currency of last resort’, XRP also has other notable benefits.
Firstly, XRP as a currency settles immediately, so when it’s sent on the Ripple network, the ownership of the actual asset changes – so it’s final and trustless.
This is in contrast to IOUs, which, although transferred instantly, still need to be redeemed from a gateway. This gives rise to counterparty credit risk, as it needs you to trust that the gateway will fulfill its obligations.

Secondly, transfers of XRPs over ripple incur fewer and smaller transaction fees, as there are fewer intermediaries needed.
Who owes who?

Who is keeping track of all the IOUs? In the hawala system, each agent keeps their own ledger, and they are reconciled periodically within their network of trust.

In Ripple, a public ledger of accounts, balances, and IOUs are kept updated by everyone simultaneously in the Ripple network, which is a distributed collection of servers around the world.

The servers agree on changes by consensus (effectively: “Do we all agree this transaction can take place?â€). There is no central ‘authority’ who says yes or no to transactions, and anyone can be a server by running free software on their computer.

That’s just the beginning

There is more here, and as you dig, you’ll learn about market makers, who provide prices at which they are prepared to trade between goods (for example, cash for gold, gold for silver, silver for XRP, XRP for GBP, and so on).

You’ll start to understand why every transaction costs a small number of XRP (a 1/1000 of a cent, to stop transaction spam), and that the network is pre-lubricated with 100 billion XRPs.

You’ll discover the elegance of confirmation via consensus. You’ll learn that transactions based on cryptography on a distributed network with public ledgers is faster, cheaper, lower risk, and much, much better in almost every way possible than centralised pre-Internet correspondent banking messaging networks such as SWIFT, that some financial institutions currently operate on. You’ll learn much, much more.
 

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arrana

Samurai
Solarcoins

The author of the following article believes…†As hundreds of “altcoin†knockoffs are minted online, bitcoins no longer dominate as the principal form of digital currencyâ€. Right now there are hundreds of currencies being created. Here is one alternative crypto currency that is attempting to promote solar power. To promote its message, you cannot “buy†Solarcoins on exchanges but must earn them.

From: http://www.scientificamerican.com/a...currencies-as-coin-of-the-cyber-realm/?page=7

Bitcoin Vies with New Cryptocurrencies as Coin of the Cyber Realm

What it is

Solarcoin is a digital currency that you can only get by investing in solar energy. Cryptocurrency enthusiast Nick Gogerty came up with the idea for solarcoin as a way to encourage people to go solar and to pay them back in some small way. Together with the SolarCoin Foundation he started a completely new digital currency. The foundation holds 99.4 percent of all the coins that will ever exist—the rest will be mined by the public—and they are now giving them out to anyone who can prove they have added solar electricity to the grid.

For now, the handouts act as a reward—a little token of thanks—to the people who are already doing their part for the environment. But Gogerty hopes that the project will function as much more in the future. He would like to see solarcoins take on enough value that the grants add a real economic incentive to the renewable energy market. And he hopes that even people who do not generate solar energy will begin to use the currency as a way to support the movement and increase the coin’s value.

Who started it

Solarcoin was released this January by a group of volunteers who together form the SolarCoin Foundation.

Exchange rate

None of the major exchanges support solarcoin trades.



The Solarcoin website is located at http://solarcoin.org/

The Solarcoin Block chain can be viewed at http://solarcoin.zapto.org/ and the transactions at http://184.73.159.72/messages

You can find a Bitcoin/Solarcoin comparison chart at http://solarcoin.org/faq-frequently-asked-questions/ to see how both currencies differ.
 

arrana

Samurai
Blackcoins

My understanding of “Proof of Stake†in using Blackcoin is that you must unlock and unencrypt your Blackcoin crypto currency wallet.

An explanation of how Blackcoin is “energy efficient†at http://alternativeto.net/software/blackcoin/

Blackcoin is a scrypt based coin launched on February 24th. It boasts 10 second transaction times (very fast), and unlike most other coins, can't be mined anymore. It has entered a full Proof-of-Stake mechanism, making it very energy efficient and allowing for 1% annual interest rate to anyone holding BlackCoins in its wallet.

It will soon be accepted by Coinkite (along with BTC and LTC) (Coin Exchanges) , allowing the currency to be used a multiple retail locations. And is already accepted by many online retailers and markets.


From the Blackcoin website: http://www.blackcoin.co/


BlackCoin is an innovation in digital currency.


Utilizing a system called proof of stake, BlackCoin is fast, secure, decentralized, and energy-efficient.

What is BlackCoin?

A new form of currency

BlackCoin is a peer-to-peer digital currency with a distributed, decentralized public ledger; that unlike ones held at traditional banks, are viewable and easily audited by the people.

The ability to manage transactions and issue additional BlackCoins is all handled by the network of users utilizing BlackCoin. Because the BlackCoin network is run by the people, holders of BlackCoin receive a 1% yearly interest through a process called staking.

An innovative new way to transfer money

BlackCoin’s technology allows people to send and receive fast, easy and secure payments with friends, family, and merchants anywhere in the world. BlackCoin allows you to manage your finances without the need for a central authority or bank.

BlackCoin is open-source too, meaning that the software that makes it function is completely available for public scrutiny — giving you peace of mind. No one owns BlackCoin, it is not a single entity; anyone can be a part of it.

Why individuals use BlackCoin

Individuals use BlackCoin to transfer money to and from friends, family, and merchants anywhere in the world. BlackCoin is an ideal currency for both face to face and international digital commerce.

Using BlackCoin is fast, secure, and rewarding.

• Security and control over your money
• Fast international payments
• Zero or low fees
• 1% compound interest yearly
• Mobile payments made easy

BlackCoin's Specifications

• Info and data behind BlackCoin
• Minted Coins 75,000,000
• Multi-pool Miners 3,911


BlackCoin's Key Features

BlackCoin has many fundamental advantages

• Low Inflation

BlackCoin was widely distributed over a short proof of work mining phase. No new BlackCoins will ever be minted aside from the 1% yearly interest paid to holders of BlackCoin.

• Fast Transactions

BlackCoin's proof of stake system makes the BlackCoin network lightning fast. BlackCoin is the ideal digital currency for face-to-face transactions and all applications that value speed.

• Blockchain Security

BlackCoin's network is secure against the attacks other digital currencies face due to their reliability on large-scale mining operations to run their networks.

• Environmentally Sound

The BlackCoin network does not require the use of large-scale, specialized hardware operations. BlackCoin is far more energy-efficient than traditional digital currency networks.

• Innovative Community

BlackCoin has a dedicated, innovative community made up of both talented developers and users working hard to push BlackCoin as far as it will go.

• Wide Merchant Adoption
 

arrana

Samurai
Lakota Tribe Adopts Mazacoin

The Lakota Native American Tribal lands overlap several state borders. The Lakota people are part of the Sioux Nation and number over 100,000 individuals.

The Mazacoin website can be found at http://www.mazacoin.org/ and on Twitter at MazaCoin @MazaCoin

From website:

Lakota Tribe Adopts MazaCoin - A Bitcoin-Esque Digital Currency |

MazaCoin --

National Currency of the Traditional Lakota Nation

MazaCoin is an all new fork of the ZetaCoin project that branched from BitCoin. MazaCoin is the Official National Currency of the Traditional Lakota Nation.

Sovereign Currency


As a Crypto-Currency, MazaCoin is uniquely qualified to hold and preserve the wealth of a sovereign nation. Minting coinage can be a powerful symbol of national identity and sovereignty, this is especially true of tribal or micro-nations who can not afford a fiat currency system.

The Future Is Now

The forward looking decision of the Traditional Lakota Nation to adopt a Crypto-Coin as their national currency will pave the way for other countries in the world to abandon dysfunctional forms of fiat currency. Cryptographic Currency is the future of money, and for the Traditional Lakota Nation that future has arrived.

Economic Sustainability

MazaCoin will create an economic foundation upon which the Traditional Lakota Nation can build lasting wealth and prosperity for their people. And MazaCoin will take it's place in the world of Crypto-Currency as a solid Alt Coin backed by the unique legacy of an ancient culture and nation.

First Sovereign National Crypto-Coin In History


Crypto-currency is a commodity, like gold. It's value is primarily determined by consensus of the users in a free and open marketplace.

MazaCoin has been carefully designed to have a minimum useful life-span of at least a century (probably considerably more). MazaCoin is the first Crypto-Currency that uses SHA-256 Proof-Of-Work that has been specifically designed to mimic the value curve and rarity of precious metal commodities.

The feature set and algorythmic variations in MazaCoin have been chosen to make MazaCoin the most useful crypto-currency in the world. With a strong emphasis on anti-deflationary measures to ensure stability of value for the purpose of wealth storage, combined with a fast blockchain and ultra-low fees for usability in transmission - MazaCoin is an ideal Crypto-Currency investment.

Looking forward, the MazaCoin Development Team will focus on new and innovative ways to further incorporate MazaCoin into the economic apparatus of the Traditional Lakota Nation , and to develop tools and strategies for incorporating MazaCoin into the global Crypto-Currency markets.

Crypto-Currency in general, and MazaCoin in particular - is extremely well suited for the purpose of a national currency. Unlike precious metals or even some sort of fiat, which would entail huge resources in mining and/or minting with a devastating amount of damage to the environment - Crypto-Currency offers a clean, democratic and environmentally sound monetary system.


 

arrana

Samurai
The Lov- a crypto currency for the Roma People

From: http://www.globalpost.com/dispatch/...1/roma-people-have-their-own-virtual-currency

Roma people to have their own virtual currency

BUCHAREST, June 11 (Xinhua) -- The self-styled King of Roma Everywhere Dorin Cioaba Wednesday stated in Sibiu, central Romania, that Roma in 37 countries will have their own virtual currency, the "lov," that will, at first, be equivalent to one euro.

"We will start off with one lov to one euro parity and we'll see after that if it will increase or decrease," Dorin Cioaba told the official Agerpres news agency in an interview.
The most expensive coin for the Roma around the world will remain, however, the gold dinar in the Roma women's carcanet. A gold dinar is bought in Romania for about 500 euro, according to Dorin Cioaba, who lives in the central Romanian town of Sibiu.

Recently, in Sibiu, at the extraordinary congress of the International Roma Union (IRU), King Cioaba was elected President of the Roma. He has the right to convoke the Roma Government, led by a prime minister in Macedonia, and the Roma Parliament, led by a president from the Republic of Moldova.
"We have launched a virtual currency for the future. The IRU has moved to a different course, that of international recognition. If we have a new government, we must have a new coin," he explained.

Cioaba said that the new virtual currency will enter circulation after the Roma will be granted recognition as a "stateless nation."
The "lov" is derived from "lovele," which means "money" in the Roma language.

Romania is said to have the biggest Roma populations in Europe. According to the 2011 census, they number some 621,500 people or 3.3 percent of the total population, being the second-largest ethnic minority in Romania after the Hungarians.

Yet, the unofficial number of Roma people in Romania is said to be as much as 2,000,000, as documenting Romania's Roma population remains difficult, many Roma people do not declare their ethnicity in the census and do not have an identity card or birth certificate.
 

arrana

Samurai
TorCoins- Possible Future Alt-coins

Instead of these mining coins as you would Bitcoin and other altcoins, with TorCoins you provide band width for the Tor Network. More information on anonymity and TorCoin creation can be found in the Yale School abstract at http://dedis.cs.yale.edu/dissent/papers/hotpets14-torpath.pdf

From the Crypto Crimson at : http://cryptocrimson.com/2014/06/torcoin-incentivizing-anonymity/

TorCoin: Incentivizing Anonymity
June 8, 2014

The Tor network has long served as a powerful tool capable of providing users with the ability to stay anonymous online. It has also been widely regarded as a favorable way to protect user privacy while mitigating government imposed censorship.

However, there are some problems with the Tor browser in its current state; with one of those being speed. This is due to the fact that the overall network speed is a direct correlation of the number of active relay nodes, all of which are derived from volunteers throughout the network.

Theoretically, current network speeds could be improved upon if the number of volunteer node relays are increased. However, it is incentivizing these volunteers without jeopardizing identity that has long remained a problem with the anonymous network.

This is why researchers from Yale University have come up with a concept that they believe will be the long-awaited solution to this very quandary.
Enter TorCoin –an alternative digital currency based on the bitcoin protocol. This cryptocurrency; however, unlike bitcoin, is based upon a proof-of-work scheme that is derived from bandwidth rather than sheer computation power.

How it works

According to the TorCoin whitepaper, incentive is driven by to the ability to mine TorCoin by simply providing a
degree of bandwidth at the network’s disposal. The coin, in return, can then simply be sold for cash on any one of the various alternative digital currency exchanges.

In order to verify that a TorCoin actually represents bandwidth transferred, developers Mainak Ghosh, Miles Richardson, Bryan Ford and Rob Jansen have introduced TorPath, “a decentralized protocol for forming Tor circuits that ensures that each circuit is privately addressable but publicly verifiable.â€￾ Each circuit’s participants are then eligible to mine a select number of TorCoins, proportional to the amount of bandwidth provided.

TorPath in essence, is a secure bandwidth allocation device that makes use of decentralized groups of “Assignment Servers,â€￾ which extend Tor’s existing “Directory Servers,â€￾ that are used to assign each client a specific circuit. TorPath is designed to allow for the signing of newly-minted TorCoins, which then provide the verification of each coin by anyone observing the blockchain.

The issue of compensation in regards to volunteering bandwidth is what TorCoin is designed to overcome; however, the digital currency’s greatest breakthrough may be its ability to do so without sacrificing anonymity.

Incentive

Tor developer Roger Dingledine explains:

One of the main challenges with applying these ideas to anonymity systems is that there are a shocking number of ways you can screw up your anonymity. The more different incentives you add into the system, the more complex the resulting security analysis. The economics of motivating cooperating in overlay networks is already complex even before you consider security properties.

TorCoin not only provides a way to incentivize those providing bandwidth to the network, but does so while offering a reliable method to distribute payment to the volunteer nodes that are essential to Tor’s existence.

While preserving the anonymity of the current Tor protocol, the alternative digital currency seeks to do so while implementing verifiable bandwidth accounting; this makes it possible for the measurement of bandwidth in a way that allows for anyone to take part in the verification process.

Infrastructure

Among other essential features of the requirements of an incentive driven system through the Tor network include, anonymous payment distribution, reliable transaction storage and incremental deployment.

TorCoin consist of two protocols, TorCoin itself, and TorPath. Though the two coexist, TorCoin operates independently, which in return requires very little modification to the Tor or Bitcoin codebase. Whereas the TorPath protocol assigns specific circuits, which then authorize the minting of TorCoins through the digital currency’s use of the proof-of-bandwidth concept.

The project has come as a result of the Electronic Frontier Foundation’s latest initiative dubbed the “Tor Challenge .â€￾ The project is part of the ongoing effort to revitalize strength in the network’s role in preserving anonymity, privacy and free speech, while providing solutions to increasing the diminishing number of available nodes. While TorCoin has yet to become a reality, it has widely been regarded as a novel, yet promising solution to improve upon the anonymity currently provided by the network.

Development

TorCoin development team:

“We have introduced TorPath, a novel scheme to assign paths to Tor clients securely and anonymously. TorPath motivated by the need to verifiably mine TorCoins, a Bitcoin variant based on measured bandwidth over the Tor network. The TorCoin protocol is robust to malicious relays and clients colluding to mint TorCoins without transferring bandwidth.â€￾

While the concept isn’t perfect, and a number of security considerations remain, the concept has had a favorable response throughout the digital currency community. According to Miles Richardson , an author of the paper, “the next step is developing a prototype, and/or a network simulation to run experiments.â€￾
 

arrana

Samurai
Here is the latest complete listing of currencies ( over 500 ) based on the open source code of Bitcoin;
More information on each coin and whether the coin is being traded on exchanges at Altcoin Speculation : http://altcoinspeculation.com/altcoins/altcoins-a/

365Coin
42Coin
66Coin
ACH
Acoin
Aegis
Aerocoin
Aidbit
Aiden
Aimcoin
Aliencoin
Alphacoin
Altcoin
Americancoin
Animecoin
Anoncoin
Apexcoin
Apicoin
AppleByte
Applecoin
ARCoin
Argentum
Aricoin
Asiacoin
Asiccoin
Astrocoin
Atomic
Auroracoin
Axron
Badgercoin
Bancorcoin
BankXShares
Batcoin
Battlecoin
BBQcoin
BCTcoin
Bellacoin
Benjamins
Betacoin
Bigbullion
Bilshares
Bitbar
BitBlock
BitCentavo
Bitcoin Plus
Bitcoin Scrypt
Bitcoin
BitcoinDark
Bitgem
Bitleu
BitLion
Bitmark
BitMo
Bitshares PTS
BitSharesX
Bitstar
Blackcoin
Blakecoin
Blazecoin
BlueCoin
Bongger
Boolberry
Boomcoin
Boostcoin
Bottlecaps
Britcoin
Bunnycoin
Burnercoin
Burst
Bytecoin
Bytecoin
Cachecoin
Cagecoin
CAIx
Californiacoin
Canada eCoin
Cannabiscoin
Cannacoin
CAPTcoin
Carboncoin
CarpeDiemCoin
Cashcoin
Casinocoin
Catcoin
Chancecoin
CHCCoin
Checkcoin
CHNcoin
Cinni
Clams
CleanWaterCoin
Cloakcoin
Cococoin
Coffeecoin
Coin2.1
Coino
Coinmarketscoin
Coinomat
Clolossuscoin
Communitycoin
Concealcoin
Conspiracycoin
Continuumcoin
Coolcoin
Copperlark
Corgicoin
Counterparty
Crackcoin
Craftcoin
Credits
CRTCoin
CryptCoin
Crypti
CryptoBuk
CryptoEscudo
Cryptogenic Bullion
Cryptographic Anomaly
CryptoMeth
Cryptonite
CSCoin
Curecoin
Darkcash
Darkcoin
DarkFox
DarkNote
DarkPeer
DarkToken
Dashcoin
Datacoin
Deepcoin
Denarius
Deutsche eMark
Devcoin
Diamond
DigiByte
Digit
Digital Commerce
Digitalcoin
Dimecoin
Dirac
Distrocoin
Dnotes
Dobscoin
Dogecoin
Dogeparty
Donationcoin
DopeCoin
DoScoin
DoubleEagle
Doubloons
Dreamcoin
EarthCoin
EBTcoin
ECCoin
Einsteinium
eKita
Ekrona
Elacoin
Electron
Electronic Gulden
Elephantcoin
Emeraldcoin
Emercoin
Emucoin
Energycoin
ESportsCoin
Ethancoin
eToken
eUtopian
Execoin
Extremecoin
EZCoin
Failcoin
Faircoin
Fastcoin
Feathercoin
FedoraCoin
Fibre
FIMKrypto
Firecoin
FlappyCoin
Flexiblecoin
Florincoin
Fluttercoin
Foldingcoin
Forexcoin
Fractalcoin
Franko
Freemarket
Freicoin
Freshcoin
Frozen
Fuelcoin
Functioncoin
Gamecoin
GameLeagueCoin
Gamerscoin
GBCoin
Ghostcoin
Global Denomination
GlobalBoost
GlobalCoin
Globe
Glyph
Gnosis
Goalcoin
GoldReserve
Goodcoin
Grain
Grandcoin
Granitecoin
Greenbacks
Greencoin
Gridcoin
Groestlcoin
GROUPcoin
Guerillacoin
Guldencoin
Guncoin
Halcyon
Harmonycoin
Heavycoin
Heisenberg
HempCoin
HighFiveCoin
Hirocoin
Hobbitcoin
HoboNickels
Hotcoin
HTMLcoin
Huntercoin
Hyper
HyperStake
I0Coin
Icebergcoin
iCoin
ImperialCoin
Incognitocoin
Infinitecoin
InkWaycoin
Instant
InstantDEX
Intellicoin
I/Ocoin
Isracoin
Ixcoin
Jackpotcoin
jl777hodl
Joincoin
Joulecoin
Judgecoin
Junkcoin
Karmacoin
Karpelescoin
Kashmircoin
Keycoin
KimDotcoin
Kittehcoin
Klondikecoin
Korecoin
Krugercoin
KryptKoin
Kumacoin
Latium
Leafcoin
Leaguecoin
Legendarycoin
Leprocoin
Libertycoin
Librexcoin
Lightcoin
Lightspeed
LimecoinLite
LimeCoinX
Lion
LiteBar
Litecoin Plus
Litecoin
Litecoin Dark
Logicoin
LottoCoin
LottoShares
LTBcoin
Luckycoin
Lycancoin
Magi
Maiacoin
MaidSafeCoin
Mammothcoin
Mangocoinz
Mantiscoin
Marinecoin
Marscoin
MaryJane
Mastercoin
Maxcoin
Mazacoin
Megacoin
Memecoin
Memorycoin
MGW
microCoin
Midascoin
MileyCyruscoin
Mincoin
Minerals
Mintcoin
MMXIV -Maieuticoin
Monacoin
Monero
Moneta
MonetaVerde
Monocle
Mooncoin
Motocoin
Mozzshare
MtGoxCoin
MugatuCoin
MultiWalletcoin
Murraycoin
Myriadcoin
Namecoin
Nas
Nautiluscoin
Navajo
NEMstake
Neocoin
Neoscoin
Netcoin
Neutrino
NewUniversalDollar
NewWorldOrdercoin
NewYorkCoin
NeXT Horizon
NFDCoin
Nibble
Nimbus
Noahcoin
Noblecoin
Node
Noirbits
NoirShares
Novacoin
NTX
Nubits
Nxt
NxtPrivacy
Nxttycoin
NXTventure
Nyancoin
Octocoin
Opal
OPECCoin
OpenSourceCoin
OrangeCoin
Orbitcoin
ORObit
Orthocoin
Pandacoin (PAND)
Pandacoin (PANDA)
Pandacoin (PND)
Particle
Pawncoin
PayProCoin
Payzorcoin
Peercoin
Penguincoin
Pennies
Pesa
Pesetacoin
PetroDollar
PHCoin
Philosopher Stones
Phoenixcoin
Photon
Piggycoin
Pinkcoin
Plankton
Plutoniumcoin
PLNcoin
Potcoin
Premine
Primecoin
Prospercoin
Prozcoin
Pseudocoin
Pyramids
Qibuck
Qora
QQCoin
Quark
Quarkbar
Quatloo
Quazarcoin
QubitCoin
Quebeccoin
Qibuck
QuidCoin
Rabbitcoin
Rainbowcoin
Rawcoin
Razor
Redcoin
Reddcoin
Rescuecoin
ReserveShare
Revocoin
Riecoin
Ringo
Ripoffcoin
Ripple
RonPaulCoin
Rootcoin
RotoCoin
Roxcoin
Ruble
Rubycoin
Saffroncoin
Sambacoin
Saturn2Coin
Savecoin
Scotcoin
Securecoin
Sexcoin
SHAcoin
Shadecoin
Shadowcoin
Shadowcash
Sharkfund0
Shibecoin
Shieldcoin
Shinycoin
Shopcoin
Silkcoin
Skeincoin
Skullcoin
Skynet
Smartcoin
Socialxbot
Solarcoin
Solcoin
Solecoin
SonicScrewDriver
Spaincoin
Spots
SSVcoin
StabilityShares
StableCoin
Starcoin
Startcoin
Stealthcoin
Stellar
Sterlingcoin
Storjcoin X
Supercoin
Supernet
Swarm
Sync
Syscoin
Tacocoin
Tagcoin
Takcoin
Talkcoin
Teacoin
Techcoin
TEKcoin
Terracoin
Teslacoin
Theoremcoin
Tickets
Tigercoin
Titcoin
Tomatocoin
Topcoin
Torcoin
Tradercoin
Triangles
Trollcoin
Truckcoin
TrustPlus
UFO Coin
UltraCoin
Umbrella-LTC
Unattainium
UnbreakableCoin
UnionCoin
Universitycoin
Unobtanium
Uro
USBcoin
USDe
Usecoin
Utilitycoin
Vaultcoin
Vegascoin
Veilcoin
Velocitycoin
VeniVidiVici
Vericoin
Vertcoin
Vexcoin
Viacoin
Virtacoin
Virtualcoin
VirtualMiningCoin
Volatilitycoin
Vootcoin
Waccoin Gold
Wankcoin
Wavecoin
WeAreSatoshi
Whitecoin
Wincoin
Worldcoin
X13coin
X14coin
Xanoncoin
X-Children
Xcash
Xcloudcoin
Xcurrency
XenCoin
Xivra
Xuro
XXLcoin
XXXcoin
Yacoin
Ybcoin
Yellowcoin
Zccoin
Zedcoin
Zeitcoin
Zenithcoin
Zetacoin
ZimStake
Zipcoin
 

arrana

Samurai
Reversecoin – First cryptocurrency that allows reverse transactions

The paper on Reversecoin can be found at: https://docs.google.com/document/d/1hMCkEQUYm9oFCQpxtIWFqVpt66pTQn1zCDW8WX0b7hw/edit?pli=1)


From:
http://www.thepaypers.com//cryptocu...llows-users-to-reverse-transactions/757784-39

Reversecoin cryptocurrency allows users to reverse transactions



The Reversecoin cryptocurrency (reversecoin.org)allows users to reverse transactions, bitcoinist.net reports.

Reverse transactions will be possible within a configurable period of time while granting users access to their coins by a combination of the online and offline wallet technology. With Reversecoin users will be able to create two different kinds of accounts: Standard Accounts and Vault Accounts.

The Standard accounts behave very much like Bitcoin accounts and allow users to send and receive money for daily purposes whereas the Vault accounts act like a bank savings account, where users can deposit large amount of coins and keep them safe from hackers. Each vault account has a configurable timeout and is backed by two key pairs, one online and another offline.

Users only need the online key pair to transfer coins from the vault. When users transfer their coins using online key pair, their transactions get confirmed after they stay in the block-chain for an extended timeout period. If someone tries to steal an online key pair and transfer coins into them, the transactions will need to wait in the blockchain for the timeout period, during which, users can use their offline key pair and reverse the malicious transaction and restore his coins to his other address. Users will be also able to use their offline key pair for immediate transfer of coins in his Vault instead of waiting for the timeout period.

The Reversecoin team assures that the software is fully operational for Linux, Mac and Windows. Users’ coins are secured by the Reversecoin TimeVault technology. The Reversecoin Project final version will be based on Bitcoin code, using Proof-of-Stake (PoS) for mining. Reversecoin does not use any central or third party. For reversing transactions, the only requirement is that Reversecoin is not affected by a 51% attack.

(Note: a 51 % Attack is when a group of miners, a mining pool, has enough computing power that they can control 51 % of the blockchain).

With Reversecoin, users will be able to transact with their online wallets and also check their offline wallet (cold wallet) when their computer, mobile, online account or exchange gets hacked. It is possible to store online wallets with the users exchange or web wallet and keep their offline wallet with them. This prevents theft even if the exchange or web wallet gets hacked.

The team’s survey on Stolen Bitcoins shows that about 300,000 BTC (worth about USD 100 million) have been stolen so far.
 

arrana

Samurai
Reddit Note Coin

In the Fall of 2015 Reddit may issue its own type of crypto currency coin-the Reddit Note (not to be confused with the Redd Coin) . The first post is Reddit’s official announcement and the second is a commentary from INC Magazine that Reddit Notes are “…not quite currency…..but something of value, like sugar, or gold, or bacon.â€￾

Here is a diagram on how to use these Reddit Notes when they are issued.





From: http://www.redditblog.com/2014/12/announcing-reddit-notes.html

Announcing reddit notes

We raised some funding in September, and we promised to reserve a portion to give back to the community. If you're hearing about this for the first time, check out the official blog post here.

A few weeks ago, we asked you what you thought would be the best ways for us to follow through on the promise. Thank you to the thousands of you who participated. You shared with us a variety of creative ideas - from donating to charities, to crowdfunding community-sourced projects, to customized "thank yous"Â￾ for individual contributions to reddit.

Well, we took these ideas and we'll be making them a reality in the form of something we're calling reddit notes. We've made progress on the specifics, and we're finally able to share with you more of how reddit notes will roll out!

To celebrate all of you and your contributions, we plan to give away reddit notes in a random lottery. As of this point, it looks like we're going to have approximately 950,000 reddit notes to divide among active user accounts. There aren't as many reddit notes as there are accounts, so if you get one, lucky you! Eligible recipients of reddit notes will be determined based on activities before 9/30/14 (when we first announced this project), and we plan to give them away in the fall of 2015.

We're still working out details on both the technological and legal aspects of the project, especially regarding how reddit notes will work within existing government regulations. We look forward to sharing that information with you early next year. If you have feedback or ideas for us, feel free to visit /r/redditnotes - and keep being awesome!


From: http://www.inc.com/christine-lagorio/reddit-note-history-and-future.htm

The Real Story on How Reddit Notes Came to Be
(That plan to fork over $5 million to users? Not only has it been around for years, it's not at all what you expected.)


The concept Reddit unveiled today--non-monetary gifts known as Reddit Notes to be distributed to active redditors in mid-2015--has been years in the making, Inc. has learned. And it will look different than what many users expected.

Reddit announced in September, as it closed a $50 million round of venture-capital funding, that it hoped "to find a way for its users 'to own some of Reddit.'" And it decided at that point to allocate 10 percent of the new funding to making that happen.

A blog post Friday announced a few more details, including that fewer than 1 million of the "digital asset" will be released to more than 6 million eligible active Reddit users, who are known as redditors.

The Bright and Hazy Future

The new post leaves much unclear, however, including how Reddit Notes will be structured; how users will be able to be trade, donate, or cash them in; and whether the Notes will actually have equity backing.

For instance, in early online communications about the company's plans for distributing some portion of the bounty from the September funding round, then-CEO Yishan Wong referred to the units as "a cryptocurrency" "exchangeable (backed) by those shares of reddit."
But in an interview this week, the project leader of Reddit Notes, Daniel Lim, who has been with Reddit for two months, said explicitly that the current iteration of Reddit Notes are not going to have immediate cash value--or equity value.

"It's not a currency. In our minds it's not equity," Lim says. How should redditors think about Reddit Notes? "Think about how other companies reward their customers. Like McDonald's Monopoly game."

Alexis Ohanian, one of the founders of Reddit and company's current executive chairman, explained to Inc. that Reddit has been working with existing government regulations to structure the Notes, and not every detail is decided. "There are still things we have to figure out from a finance perspective," he says.
"In a lot of ways, it's not like a currency. It's something of value, like sugar or gold or bacon," he says. "It can be transferred."

As a "digital asset," is it cryptocurrency? While Reddit Notes will likely be based on the evolving block chain protocol, Lim says, well, not exactly.
"I would not call it a cryptocurrency," he says. "I would call it a digital asset and we are building something that will distribute it."

The Idea's Real Roots

According to company executives, including the big gift to the Reddit community in the $50 million funding round was one of the last significant moves by now-former CEO Yishan Wong, who put together the funding round. (Wong departed Reddit last month after a kerfuffle involving his decision to relocate the company from San Francisco to Daly City.)

But Inc. has learned the idea's roots predate Wong's two-year tenure at the company significantly.
According to Ohanian, he'd been mulling the idea of giving back to the Reddit community for years, and brought up the idea to executives at Reddit's parent company around September of 2011.

"After Reddit first spun out, they were looking for a CEO," Ohanian says, of conversations with lawyers and a recruiter after Conde Nast released ownership of Reddit to Conde Nast's parent company, Advance Publications. "I remember talking to all these lawyers about finding a way that users could own shares in the company."
"It's something of value, like sugar or gold or bacon."

The lawyers were not so amenable to the idea from the founder. "They said, 'absolutely not,'" according to Ohanian.
However Reddit Notes actually evolve and are distributed, the company is dedicated to the $5 million idea, from the inside--and outside. Investor Sam Altman, the influential president of startup school Y Combinator, of which both he and Ohanian are alums, said in an AMA that he vehemently supports the creation of the financial distribution to redditors--but hopes to see it grow over time.

We're working on a way to give 10% of our shares from this round to the reddit community. I hope we can increase community ownership over time--I've always thought communities like reddit should mostly own themselves, and that it's time for some innovation around corporate structure here.
Ohanian says regardless of the specific form the Reddit Note takes, the company is going to great lengths to ensure no favoritism of users happens in the distribution of the assets.

"Thinking of Reddit from the very start, I wrote that all redditors are equal; no redditor is more equal than others," he says of an entry on the site's original FAQ section. "Just as long as you are an active, good user, you are equal."
 

arrana

Samurai
Fitcoin- The digital coin mined by exercising!

The Fitcoin application uses your heart rate to mine digital coins! Their website is at http://www.fitcoins.net/

From: http://www.dailymail.co.uk/sciencet...-syncs-activity-trackers-reward-exercise.html

(Note: Check out the comments at the end of the Daily Mail article on ways to “life hack” the Fitcoin app app!) ; D

The app that PAYS you to work out: FitCoin syncs with activity trackers to reward you for exercise

March 16, 2015

  • Concept technology was created by Austin-based Chaotic Moon Studios
  • It syncs with fitness trackers, such as the Jawbone, to monitor heart rate
  • App tracks length of activity to determine how much energy is being used
  • Algorithm then converts this energy into 'CPU time on a Bitcoin mining rig'
  • During a demo the designers earned five cents for four minutes activity
  • And the more energy a user expends, the more digital currency they mine


For some, just the idea of tracking steps and calories is enough to make them exercise - but many of us need much more of an incentive.

So designers in Austin have created a concept app that rewards you for working out by turning your heart rate data into virtual currency.

The FitCoin technology syncs with fitness trackers to monitor how much energy is being used and this energy is converted into Bitcoins.

was created by Chaotic Moon Studios, a technology studio in Austin, Texas and the designers recently demonstrated the app at this year's SXSW festival.

'This concept combines two of our specialties: looking good and making money,' said Chaotic Moon boss, Ben Lamm.

'We're always trying to turn existing habits into new opportunities to make money - this one was an obvious fit.'

WHAT ARE BITCOINS?
A Bitcoin is a piece of data locked in an internet-based network by a complex equation computers can break.

Each Bitcoin is a piece of code that has been generated through computer processing, known as 'mining'.

Once released it can be traded and used online and can be bought with cash.

Bitcoin operates as a two-way currency which can be exchanged for dollars, and vice versa.

The finite nature of Bitcoins means it performs more like a commodity, such as gold.

Bitcoin first emerged in 2008 and launched as a network in 2009.

It was created by a hacker whose identity is a mystery, but is known as Satoshi Nakamoto.

This is thought to be a pseudonym for the person or group who created it.

Users choose a virtual wallet which enables them to receive, give and trade coins from other users.

The app only works with fitness trackers that monitor heart rate and have open source software, which includes the Jawbone UP3 and Mio.

As the wearer exercises, the fitness tracker sends the heart rate data and length of activity to the app which then determines how much energy is being used.

An algorithm then converts this energy into 'computer processing time on a Bitcoin mining rig' - or how much computer power would be needed to mine the virtual coins.

A Bitcoin is a piece of data locked in an internet-based network by a complex equation computers can break.

Once released it can be traded and used online and can be bought with cash.

In particular, each Bitcoin is a piece of computer code that has been generated through computer processing, also known as 'mining'.

During the demonstration, designer Grant Nicol wore a Mio band and ran on a treadmill for three minutes and 40 seconds.

His heart rate raised to 115 beats per minute and this mined around five cents.

Although this is a low amount, the technology is a concept so needs some refinement. Plus the more energy a user expends, the more money they make.

As the wearer exercises, the tracker sends heart rate data and length of activity to the app which then determines how much energy is being used. An algorithm converts this energy into 'computer processing time on a Bitcoin mining rig' - or how much computer power would be needed to mine the virtual coins

Users can choose a virtual wallet to receive the money and can then trade coins with other users or with retailers who accept them, such as eBay and Microsoft.

FitCoin gives users real-time notifications and earnings updates as well as a dashboard to track how both their body and their bank account are progressing.

Chaotic Moon is also hoping that the technology could lower health insurance rates.

For example, monthly rates could drop based on the amount of activity the user does.

Or sportswear firms could offer discounts when bought using virtual currency earned through the app.
 

arrana

Samurai
LEOcoin: Second Largest Digital Currency Launched in the UK

The world's second largest digital currency, LEOcoin, was launched today (25 March 2015). The LEOcoin website is at leocoin.org.

From: http://www.newsbtc.com/2015/03/25/bitcoin-braces-up-for-rival-leocoin/

UK-based Learning Enterprises Organisation (LEO) has launched a completely anonymous digital currency LEOcoin to rival the industry leader Bitcoin. The Bitcoin alternative launched in London on Wednesday will officially begin trading on a Hong Kong-based, global LEOcoin exchange from April 2. The coin will be recognized by other exchanges as well.

Dan Andersson, the co-founder of LEOcoin believes that the new currency will have “greater usability and accessibility than other cryptocurrencies.

To promote wider usability, the organization has launched wallets for different operating systems: Windows 32 bit Wallet, Windows 64 bit Wallet, MAC OS Wallet, and Linux Wallet.

Interested parties can buy LEOcoins, mine them on a computer, join a mining pool, or trade them. LEO has also rolled out a “merchant program” for those willing to access the global LEO Marketplace.

The use of both Proof-of-Stake and Proof-of-Work validation puts LEOcoin in the league of most secure digital currencies.

The organization has promoted the concept to its 131,176 clients thereby essentially making it the “second largest cryptocurrency" in the world.

The launch of LEOcoin is a very risky gamble considering that the same organization commissioned a survey of 1000 small- and medium business owners which revealed that a huge 85% of the respondents are either “not very likely” or “not at all likely” to accept cryptocurrencies like Bitcoin, Litecoin, Dogecoin and others in the future.

The study conducted by YouGov also brought to light that higher awareness has failed to push mainstream adoption of digital currencies. With an awareness level of 86%, a mere 2% were ready to accept a digital currency.

To this, Dan Andersson said that, “the industry needs to do much more to establish its credibility.”

On a positive note, LEOcoin’s aim to boost cryptocurrency usability and accessibility for potential users seamlessly aligns with the primary motive of the whole digital currency industry.
 
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