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Feathercoin

Feathercoin


 
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3.5
Good: Open Source, Secure
Bad: Can't Purchase Bitcoins
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Every merchant knows that the greatest transaction asset in the Bitcoin world is a wallet, in this case, the Bitcoin wallet. This is what enables one to make transactions, calculations and updates. It is also the point from which status can be monitored. In essence, the Bitcoin wallet is like the bank account that holds capital statements and status, but in this case, a memory that gives one the ownership of balances and enables transactions. The Bitcoin wallets can interrelate just like emails and allows owners to quickly send value to virtually anything without any form of centralization. There are other alternatives such as Feathercoin which is also based on Bitcoin’s open source code with enhanced hashing algorithm (Scrypt-based). Since the Bitcoin transactions involve a virtual currency, the wallet is basically a software application which is often offered by expert companies.

Feathercoin services

Feathercoin allows one to have complete control over their expenditure through a digital wallet stored in personal PCs. There are many things one can do using Feathercoin including donations, purchases and transfers. There are certain aspects that distinguish the Feathercoin system as a digital currency which include the following;

Secure transaction

The most important issue that all merchants are watchful about is the security of their transaction particularly since once made, they cannot be reversed. Feathercoin system allows the user to create multiple encrypted backups of their wallets and use various secure locations. It also allows for multiple signatures to further enhance protection against theft. Since this mode of payment is digital and not centralized, all transaction payments are made by the individuals rather than an organization like in credit card cases. This creates a larger risk in theft and unauthorized transactions. Feathercoin establishes sufficient restrictions before anyone is allowed to make a transaction which ensures credibility and safety of all users. There are up to six confirmations that one can subject a transaction to although this increases the time needed for approval. However, it is worthwhile if larger sums like $1000 are involved.

Speed

One of the advantages of Feathercoin is how fast the transactions are secured and approved which enables prompt purchases that can be used to beat deadlines. Since the pricing is very volatile and fluctuates unpredictably, it is unwise to invest in long term retention of the digital currency. This implies that frequent fast transactions are necessary and this is what Feathercoin offers. Once the security scrutiny has been finished, the transaction is immediately accepted and updated in the wallet. The bandwidth packages allow users to quickly make transfers with incredible speeds, thus reducing the delay time, which may present an opening for theft and tapping.

Affordability

One of the major concerns of Bitcoin activities is the hardware requirement which is highly influenced by expensive ASIC. This is the most preferred hardware and generally outperforms the alternative GPU system. Feathercoin uses a Scrypt algorithm which features 80 coin rewards for each block and a total of 336 million coins. Other features include a 1.0 minute block target with reward halves after every 840,000 blocks. Retargeting can be done with average blocks of 15, 120 and 480 with a 25% damping. The transaction charges are also arguably cheaper than other systems. Feathercoin comes with a default network port (9336) as well as an RPC mining port (9337). This hardware is very affordable as compared to the ASIC models and still performs efficiently offering a suitable choice for GPU miners.

Conclusion

Bitcoin ventures have always been considered tricky because it is still young and new which raises uncertainties over whether the security available is sufficient. The inexistence of any centralization further present problems of how secured the transfer and use of this crypto-currency really is. However, Feathercoin provides a viable system which allows for easy monitoring with both online and offline modules that can be saved on personal PCs. The hardware needed is also cheaper when compared to other Bitcoin mining requirement which exhibit marginal superiority at extremely expensive prices. In overall evaluation, it presents a more suitable choice considering the novel nature of this expedition and uncertainties about future business environments. Besides, the value of this currency is far from stable and gradual integration should offer a more practical business ideology which is both precautionary and effective. As this industry expands in terms of acceptance and use, new technologies and capabilities will become apparent and several breakthroughs are yet to be witnessed.


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