Other digital currencies, in addition to the bitcoin

Litecoin

This currency electronics uses the same system of bitcoin, but differs in aspects such as: the confirmation of transactions occurs more quickly, since it occurs in less than three minutes.

Additionally, the process of mining can be done with equipment that does not require large capacity and are more common among users.

There are in circulation since 2011, and in the last few months its value has fluctuated considerably, reaching trading some days at US$0.05 and other at US$48. At this time it is US$23.48.

Peercoin
Safety and efficiency are part of the offer of this currency. Both elements are related to the method that includes, known as proof-of-stake, which requires those who carry out operations with the currency, to prove that they are the rightful owners of the same.

This system, in turn, is more “green” because the verification of transactions is simpler than that on a regular basis is used, proof-of-work, which is based on complex algorithms that make the computer to work more.

Other controls that offers help to combat the collective process of mining, which has been catalogd as a failure to Bitcoin because its purpose is to make a profit, which goes against their “democratic principles”. In operation since 2012.

Dogecoin
The parent element that defines this currency are the “meme” of Doge, which are photos of a dog Shiba Inus that accompanied by various messages written in english incorrect grammatically and with different colors, usually with the Comic Sans MS font.

This concept is combined with the operational principles of bitcoin, so that both work similarly, but Dogecoin is identified with the face of the Shiba Inus, a breed originating from Japan. Appeared in 2013.

This Currency Namecoin is characterized by the use of an internet domain that escapes the control of the Internet Corporation for Assigned Names and Numbers (ICANN), which makes it difficult for the operations made with the same can be watched.

The maximum amount that may exist in these currencies is 21 million, is the same limit that is bitcoin, also shares with the latter the system of mining.

A technical fault that he suffered at the end of 2013 the peso depreciated, but in these moments is trading at US$5.82. Its beginnings date back to 2011.

Quark
despite the fact that you have little time available to users – was launched in mid 2013-
performance led to increase its value to 500% in just one week at the end of november.

An important element for Quark is safety, so it uses six different algorithms to protect the information. Bitcoin, for example, he uses one identified as SHA-256.

Transactions are committed in approximately three minutes and, due to their technical characteristics, is accessible to anyone as long as you have a computer. According to the Wall Street Journal, is accepted as a method of payment by 20 retailers.

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