28 January 2014, 15:36

Feathercoin: stable and fast

Feathercoin: stable and fast
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A newcomer to the market, Feathercoin has gained heavy traction since its launch around nine months ago, with many people mining and trading the new version of cryptocurrency.And though it’s still a relative featherweight compared to Bitcoin, no doubt the founder, Peter Bushnell has done a good job of developing it.

Feathercoin, based on Litecoin, produces 16 times as many coins per block solved as Bitcoin, and will have around 336 million coins. It has a low level of difficulty for solving blocks compared to other cryptocurrencies, and the same security as Litecoin.

There’s a lot going on around Feathercoin. It has established its own nascent eBay-style marketplace. There’s a website, enabling people to trade coins directly with each other. A physical version of the coin is being developed, potentially with an NFC reader embedded in it, and another project is to put metadata in the block chain, to assist with the transmission of files.

However, some say it’s a poorly made copy of Litecoin. We’ve got a comment by one of the administrators at bitcoinexaminer.org, Ian Irving.

There have been many instances when it’s been subject to various attacks. A lot of people don’t think it’s very stable. Its key feathure is that it’s very fast.

Its founder, Peter Bushnell, says it’s transparency that differentiates Feathercoin. It is controlled from a house in the sleepy Oxfordshire suburb of Arncott, while its founder until May 2013 ran the IT department at Oxford University’s Brasenose College. He is sure that eventually Feathercoin would become something that’s fit for the mass, for consumers to use. They just have to believe that there is a lot of money in it.

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