Sunday, August 21, 2011

New Coin Emerges "SolidCoin"

From :

How does SolidCoin differ from Bitcoin?
  • Faster transaction processing
  • Protection against pump-n-dump by large pools
  • Twice daily difficulty retargets
  • 3 minute blocks, 32 SolidCoins per block
  • Maximum coin generation of 18.9 million (18900000) to be reached by ~2022
  • Fixed transactions fees instead of unknown variable fees in BTC
  • Interface improvements
  • JSON API improvements
  • Different address format

But do we need an alternative to Bitcoin?
The answer is simply YES! Bitcoin itself has shown that P2P cryptocurrencies can work and can be relatively secure when it comes to only owners of the coins using them. However it is far from perfect.

As Bitcoin itself and other similar chains have seen, there are numerous vulnerabilities and issues in the protocol, including :-
  • Slow transaction speeds, often making waiting for confirmations unbearable
  • Near complete shutdown of network due to pump-n-dumps by large operators
  • Transaction fee nightmares, no way of knowing what a fee will be until you've tried to send funds
  • Concentration of Bitcoins into elitist early adopters that have no interest or desire to help Bitcoins be used by "normal" people

Now there has been a big boom recently in Coin markets ix coin i0Coin and many more this one foes seem to show some promise in the world of crypto-currencies.  I will be keeping a close eye personally on this currency and have allocated 30% of my Mining resources to it. If your minning SC and like to donate my address is: sVxWe6THu34dzkEFDBGK8UvYpknXWHu7hW 
AS always have fun mining my fellow FairBitcoiners.

For more info check out here:

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