Bitcoin

Most popular cryptocurrency, which initiated the development of all these digital money. Creator is a certain group of people, called Satoshi Nakamoto. The creators of the open source have provided BTC for his creation, which will continue to have other programmers to create on this basis, other top cryptocurrency and develop them. One of the names bitcoin, «e-gold", appeared in considerable due to the high cost of the same coin and complexity of mining new. Issue of Bitcoin is limited to 21 million.

To generate the currency used for solving complex formulas and calculations, complex and often of the same type, and calculating hashes, as evidence of the work done by each node of the network involved.

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Dogecoin

Dogecoin, DOGE, Dogkoyn - digital cryptocurrency. Copy the entire algorithm Litecoin with some modifications. The popularity is due to large investments in advertising and symbol-pictures of the famous dog known and respected in the narrow circles of Internet geeks. Emission Dogecoin limited to 100 billion. Coins. Premayn 6% of the total. The award for the block is not fixed from 0 to a certain value and distributed as follows:
 
1 to 100,000 unit: 0 - 1000000 coins
100001 to 200000 on the unit: 0 - 500000 coins
200001 to 300000 on the unit: 0 - 250000 coins
300001 to 400000 on the unit: 0 - 125000 coins
400001 to 500000 on the unit: 0 - 62500 coins
500001 to 600000 on the unit: 0 - 31250 coins
600001 block with further 10000 coins

When calculations on calculators and pools, please note that they consider for maximum reward for the block. Dogecoin exchanged for other cryptocurrency many online exchanges.

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Litecoin

Laytkoyn based Charlie Lee, who previously worked on Google, was launched in 2011. The basic idea of the top cryptocurrency - to become a similar alternative to silver in the market of digital money, given that bitcoin is associated with the price of gold. It was attached cryptocurrency LTC has the popular name of "electronic silver." The cost lower and is about $ 33. The emission is limited in the amount of 84 million.

In the process of mining used a simple list of calculations cryptocurrency and encryption, allowing you to speed up the time of receipt of the same coin is about four times. In addition the program are constructed to not to provide distinct advantages to owners of specialized computer systems, put on a par with ordinary users.

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Primecoin

Created Sonny King, Praymkoin XPM is a deep processing of Bitcoin and started without pre-generated blocks in the summer of 2013. The main difference, if the comparison cryptocurrency - this utility payments conducted during of mining. We solve the problem of prime numbers and sequences Kunningama. Price is at the level of $ 3.56.

The question of finding prime numbers and the actual demand for cryptography, many branches of mathematics, and a whole list of other fields of science. To stimulate interest in such an approach are also large monetary rewards for the search and finding prime numbers that are greater than 1, 10, 100 million, 1 billion decimal places. Naturally the process of mining extremely difficult load custom computing power.

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Peercoin

The third most popular top cryptocurrency PPC was established on the basis of open source Bitcoin is a direct heir of his. In comparison with the rest of the list cryptocurrency Praymkoin has no limit on the number of coins created. The limiter serves as the annual inflation rate of 1%.

Attractive to users is an approach which resulted in income of each coin is distributed not only among miners, and all other participants in the system, that is, their respective owners. The price fluctuates around 6.04 dollar values.

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Namecoin

Neymkoin was founded in 2011 on the basis of alternative servers DNS. At the moment, it has a rate of $ 8 and is in the top cryptocurrency. Limiting the total number of coins - 21 million.

Interest NMC virtual currency in comparison with other causes that acts as an alternative to the international system of distribution and control of domain names ICANN. If the organization is able to confiscate voiced any domain name, thanks Neymkoynu users can purchase for yourself a domain name in a zone .bit, not to worry about its safety. Secure cryptographic encryption provides total security against any attempt to block or change other than the owner. Cryptocurrency serves as payment for registration and maintenance of the name.


The process of generating a digital representation of the creation of a list of domain names and sites, which are then distributed among the participants. The calculations is somewhat more complicated than that bitcoin, which is a fork from Namecoin.

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Feathercoin

A copy that is a fork from the original top cryptocurrency bitcoin and litecoin, appeared in 2013. Positioned as the successor laytkoyna it only has increased four times the emissions and a much lower price - 0.5 dollars.

To make the currency more popular FTC was launched and distributed information about the burglary at the dawn of its emergence, this despite the fact that originally it was identical as in the base currency bitcoin. This was followed by a statement that the principle of the creators of the redesigned security have compared all systems and said that now is the most secure fezerkoin cryptocurrency. In parallel with these statements is constantly spreading messages about vulnerabilities and laytkoyna Bitcoin.

The point of vulnerability lies in the fact that the system is easy to crack, having control of 51% of its productive capacity. In a real situation, it is not achievable idea, because the performance is already widespread Bitcoin hundreds of times greater than the overall performance of supercomputers.

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Freicoin

Fork on Bitcoin, founded in 2013. The basic idea cryptocurrency FRC is to solve the problem of excessive accumulation of currency without constant reinvestment. For this purpose, a tax rate of 5% for the simple virtual money in the hands. The tax is collected in the form of commission on each transaction. The present value of $ 0.7 freykoin by limiting the emission of 100 million.

Attracting new members is also carried out the policy of the distribution of income from the currency. 80% of all profits go to the charity fund Freicoin Foundation in the form of donations. 20% of the list is distributed among all users, providing its computing power.

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Bitcoin Mining

One of the most unique aspects of Bitcoin is that you can generate it through the process of mining, which is something anyone with a computer can do. This is unlike fiat currency which can only be printed by the government. This makes Bitcoin somewhat similar to gold and other precious metals, since they can only be mined, not printed on demand. Bitcoin mining is far different than extracting resources out of the Earth however. Instead it involves your computer solving complex equations. The equations solved during Bitcoin mining are cryptographic hashing functions, which are usually referred to as hashes. Here are some photos Bitcoin Mining farm:

What is a Satoshi?

A Satoshi is the smallest fraction of a Bitcoin that can currently be sent: 0.00000001 BTC, that is, a hundredth of a millionth BTC. Use the Converter to find out how much your balance is worth!

  • 1 Satoshi = 0.00000001 
  • 10 Satoshi = 0.00000010 
  • 100 Satoshi = 0.00000100  = 1 Bit
  • 1,000 Satoshi = 0.00001000 
  • 10,000 Satoshi = 0.00010000 
  • 100,000 Satoshi = 0.00100000  = 1 mBTC
  • 1,000,000 Satoshi = 0.01000000  = 1cBTC
  • 10,000,000 Satoshi = 0.10000000 
  • 100,000,000 Satoshi = 1.00000000 BTC

Who controls the Bitcoin network?

Nobody owns the Bitcoin network much like no one owns the technology behind email or the Internet. Bitcoin transactions are verified by Bitcoin miners. While developers are improving the software they cannot force a change in the Bitcoin protocol because all users are free to choose what software and version they use.

In order to stay compatible with each other, all users need to use software complying with the same rules. Bitcoin can only work correctly with a complete consensus among all users. Therefore, all users and developers have a strong incentive to protect this consensus.

Is Bitcoin really used by people?

Yes. There is a growing number of businesses and individuals using Bitcoin. This includes brick and mortar businesses like restaurants, apartments, law firms, and popular online services such as Namecheap, WordPress, and Reddit. While Bitcoin remains a relatively new phenomenon, it is growing fast. At the end of August 2013, the value of all bitcoins in circulation exceeded US$ 1.5 billion with millions of dollars worth of bitcoins exchanged daily.

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