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Devcoin

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Devcoin
Denominations
SymbolĐ, DVC
Demographics
Date of introduction5 August 2011
User(s)International
Issuance
LedgerTransactions are verified and secured by decentralized peer-to-peer network. The Devcoin project regulates and distributes through consensus in protocol.[1]
Valuation
Issuance50,000DVC with every block (approximately every ten minutes).
 SourceTotal DVC in Circulation

Devcoin (DVC) is a cryptocurrency created in 2011 to fund open source work[2] by programmers, hardware developers, writers, musicians, graphic artists and filmmakers.[3] [4]

The Devcoin code is open source[5] and based around Bitcoin. Devcoin can be merge mined with Bitcoin, earned by developing, writing or traded on exchanges.[6]

An auction site for Devcoin users went online in May 2014. Users can pay with BTC, LTC, DVC and PayPal. All profits from Devcoin Auctions will go toward the Devcoin project itself.[7]

Transactions[edit | edit source]

Devcoin is an alternate Bitcoin block chain.[8][9][10][2] The Devcoin daemon is a fork of the Bitcoin daemon and the client is a fork of the Bitcoin wxWindows version.[1]

Purpose[edit | edit source]

The stated purpose of Devcoin is to give money to open source developers for their work in as fair a manner as possible.[11][8]

Open Source[edit | edit source]

Open source is one model of open access and redistribution of time, work and information through collaboration. Devcoin was implemented to enable universal funding in line with this concept.[12]

Distinguishing Features[edit | edit source]

Specifications[edit | edit source]

SHA-256 Algorithm

Merged mined with Bitcoin

50,000 coins per block, 90% goes to funding developers.[2]

Coin supply is constant.[1]

Earnings and Payouts[edit | edit source]

Receiver files are used to load the addresses for payment into the mining operation.[13][14] This is the first use of receiver files in cryptocurrency and allows the distribution of funds to Devcoin recipients.[11] Devcoin is expressly made to compensate individuals for their open source and Creative Commons work, and payments are distributed throughout a round of 4,000 blocks.

Mining[edit | edit source]

Devcoin is merged mined with Bitcoin.[15][16] This enables the currency to be created as a secondary effect of mining Bitcoins, and Devcoin does not rely upon maintaining its own network power and related energy consumption.[17] 50,000 Devcoins are mined per block; of which 5,000 Devcoins remain with the miners>[8] and 45,000 Devcoins are sent to the eligible recipients.

Money Supply[edit | edit source]

The generation rate technicals were developed to pay for ongoing development and to address having to deal in milliDevcoins. Devcoin’s generation is constant at 50,000 coins per block, 1,000 times higher than the Bitcoin starting rate. The rate of growth falls as a percentage of the total each period. The generation is unlimited with no block halving. Devcoin has a marketcap of $348,056 USD as of Nov 11th, 2017.[18]

See also[edit | edit source]


Others articles of the Topics Cryptography AND Economics : Zclassic, Nxt, Bitcoin Private, NeuCoin, BoxyCoin, Vertcoin, Namecoin

Others articles of the Topics Economics AND Free software : Zclassic, BoxyCoin, Nxt, ZenCash (cryptocurrency)

Others articles of the Topics Cryptography AND Free software : BoxyCoin, Zclassic, Nxt, ZenCash (cryptocurrency)

Others articles of the Topic Cryptography : Bitcoin, Namecoin, Vertcoin, Pasaffe, Blockchain, ZenCash (cryptocurrency), Cryptographic hash function

Others articles of the Topic Economics : Digital currency, Australia Cash, Nxt, Namecoin, Zclassic, BoxyCoin, Peercoin

Others articles of the Topic Free software : esoTalk, Free and open-source software, Fresco (windowing system), RandR, KaTeX, ZenCash (cryptocurrency), FlashGot

References[edit | edit source]

  1. 1.0 1.1 1.2 "Technical - Devcoin Wiki". Devtome.com. Retrieved 2013-01-09.
  2. 2.0 2.1 2.2 Brezo, Felix and Bringas, Pablo G. Issues and Risks Associated with Cryptocurrencies such as Bitcoin, SOTICS 2012, The Second International Conference on Social Eco-Informatics, 2012-10-21 (pdf), p. 25
  3. "Devcoin.org". Devcoin.org, January 2014. Devcoin.org. Retrieved 9 January 2014.
  4. "Cryptsy.com have begun to trade Devcoin for Bitcoin". Cointelegraph. 13 February 2014.
  5. "Devcoin Source Code". gitorious.com. Retrieved 2014-01-09.
  6. "Devcoins". Devcoin project. Retrieved 2014-01-09.
  7. "Devcoin Auctions goes live". Cointelegraph. 23 May 2014.
  8. 8.0 8.1 8.2 Siluk, Shirley (2013-05-09). "What other digital currencies are there?". CoinDesk.com. Retrieved 2014-01-09.
  9. Bradbury, Danny (2013-06-25). "Bitcoin's successors: from Litecoin to Freicoin and onwards". The Guardian. Retrieved 2014-01-10.
  10. Bradbury, Danny (2013-06-05). "WhereToMine highlights rich altcoin deposits". CoinDesk.com. Retrieved 2014-01-09.
  11. 11.0 11.1 Buterin, Vitalik (2013-09-24). "Bootstrapping a Decentralized Autonomous Corporation, Part 3: Identity Corp". Bitcoin Magazine. Retrieved 2014-01-10.
  12. Djere, Rex (2013-07-30). "Funding Open Source Projects With Devcoin". linuxtoday.com, beginlinux.com. Retrieved 2014-01-09.
  13. "Github - Devcoin files". github.com. Retrieved 2014-01-09.
  14. "Index of/charity". Retrieved 2014-01-09.
  15. "Merged Mining". dot-bit project. 2013-04-13. Retrieved 2014-01-11.
  16. "Pooled Mining". Retrieved 2014-01-11.
  17. Lawler, Ryan (2013-04-13). "The cost of a bitcoin". techcrunch.com. Retrieved 2014-01-11.
  18. Crypto-Currency Market Capitalizations, 2017-11-11

External links[edit | edit source]


This article "Devcoin" is from Wikipedia. The list of its authors can be seen in its historical and/or the page Edithistory:Devcoin. Articles copied from Draft Namespace on Wikipedia could be seen on the Draft Namespace of Wikipedia and not main one.



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