Bitcoin Wiki - User contributions [en]

Comparison of cryptocurrencies

2014-08-25T12:56:14Z

Moldic: /* Bytecoin (BCN) */

This article aims to list relevant cryptocurrencies, and [[:Bitcoin:About#Alternative cryptocurrencies|is the only article allowed to discuss altcoins specifically]]. These coins are ordered according to [http://coinmarketcap.com/ market cap].

== Top 10 by market cap ==
=== Bitcoin (BTC) ===
* http://bitcoin.org/
* blocks every '''10 min'''
* coin supply* '''21 million''' coins will be available
* difficulty adjustment* '''2016 blocks'''
* hashing algorithm '''SHA256d'''
* Initial Reward '''50 '''coins per block
* Launch Date: January 3rd, 2009

=== [[Tonal Bitcoin]] (TBC) ===
* (merged mined with BTC)
* (blockchain shared with BTC)
* (automatically converted to/from BTC)
* blocks every '''10 min'''
* Coin supply* '''7.8 tam''' coins will be available
* difficulty adjustment '''2016 blocks'''
* hashing algorithm '''SHA256d'''
* Initial Reward '''1,2905.2''' coins per block
* Launch Date: January 2rd, 2011

=== Litecoin (LTC) ===
* http://litecoin.org/
* blocks every '''2.5 min'''
* coin supply* '''84 million''' coins will be available
* difficulty adjustment '''2016 blocks'''
* hashing algorithm '''scrypt '''
* Initial Reward '''50''' coins per block
* Launch Date: October 2011

=== Peercoin (PPC) ===
* http://ppcoin.org/
* https://bitcointalk.org/index.php?topic=101820.0
* blocks every '''10 min'''
* Coin supply* '''non-deterministic ''' coins will be available
* difficulty adjustment '''each block'''
* hashing algorithm '''SHA-256'''
* Reward '''varies on difficulty''' coins per block
* Mining: Incorporates [[Proof of Stake]] coin Generation, contains central checksums to kickstart the protocol
* Launch Date: approx August 19th, 2012 (date of its [http://ppcoin.org/static/ppcoin-paper.pdf whitepaper])
** The public design phase of this coin was very brief.

=== Nxt (NXT) ===
* http://nextcoin.org
* Pronounced as "Next"
* Blocks every '''1 min'''
* Designed as 100% PoS ([[Proof of Stake|Proof-of-Stake]]) system
* Coin supply* '''1 billion''' coins exist from the start distributed by 74 founding stake holders
* Launch Date: September, 29, 2013

=== Dogecoin (Doge) ===
* http://www.Dogecoin.com/
* blocks every '''1 min'''
* coin supply* '''99 Billion''' coins will be available and 5 Billion added every year.
* hashing algorithm '''scrypt '''
* Initial Reward '''1,000,000 - 0 (Random)''' coins per block
* Launch Date: December 2013

=== Namecoin (NMC) ===
* https://en.bitcoin.it/wiki/Namecoin
* (merged mined with BTC)
* https://github.com/vinced/namecoin
* http://namecoin.info/
* blocks every '''10 min'''
* coin supply* '''21 million''' coins will be available
* difficulty adjustment '''2016 blocks'''
* hashing algorithm '''SHA256d'''
* Initial Reward '''50 '''coins per block
* Launch Date: April 18, 2011

==Top 100==

=== Anoncoin (ANC) ===
* [https://anoncoin.net/ Anoncoin website]
* [https://wiki.anoncoin.net Anoncoin wiki]
* Built in support of I2P and Tor
* 4.2 million total coins
* Block reward 5 ANC, halved every 306k blocks
* Block target 3.4 minutes, difficulty changes every block
* Launched: June 2, 2013

The goal of Anoncoin is to provide a truly anonymous cryptocurrency. The location of the user is concealed by providing built-in support of the I2P darknet and Tor. [[Zerocoin]] will be implemented in an upcoming release, making it impossible to trace transactions in the blockchain.

=== Bytecoin (BCN) ===
* '''BCN''' https://bytecoin.org
* '''CryptoNote''' technology https://cryptonote.org/
* Algorithm: '''CryptoNight'''
* Started on July 4, 2012
* Block time: '''120 seconds (2 minutes)'''
* Difficulty retargets each block
* Block reward decreases each block according to the formula: BaseReward = (MSupply - A)/2^18, where MSupply = (2^64 - 1) atomic units and 'A' is amount of already generated coins
* Total 184.46 billion BCN
* '''Forum''' https://bitcointalk.org/index.php?topic=512747.0
* '''Forum''' https://cryptocointalk.com/forum/1362-bytecoin-bcn/
* '''Twitter''' https://twitter.com/Bytecoin_BCN
* '''Block chain''' https://chainradar.com/
* '''Coin features:'''
**Difficult to trace payments by use of ring signature
**Only CPU-mining & ASIC-resistant
**POW mechanism is a voting system for users

=== Devcoin (DEV) ===
* https://bitcointalk.org/index.php?topic=34586.0
* (merged mined with BTC)
* blocks every '''10 min'''
* coin supply* '''constant generation''' coins will be available (???)
* difficulty adjustment '''2016 blocks'''
* hashing algorithm '''SHA256d'''
* Reward '''50,000''' coins per block
* '''EXTRA 90% block subsidy goes to foundation'''

=== FeatherCoin (FTC) ===
* http://feathercoin.com/
* A fork of Litecoin
* 243 million total coins

=== Freicoin (FRC) ===
* http://freico.in/
* http://www.freicoin.org/
* blocks every '''10 minutes'''
* coin supply* '''100 million''' coins will be available
* difficulty adjustment '''2016 blocks'''
* hashing algorithm '''SHA-256'''
* [http://www.freicoin.org/freicoin-generation-graph-t41-20.html#p532 Arithmetically decreasing] reward
* EXTRA:
**4.89% annual [http://en.wikipedia.org/wiki/Demurrage_currency demurrage]
**80% block subsidy [http://www.freicoin.org/application-developer-best-practices-t87.html#p919 goes to foundation for the first 3 years] (about 500 coins for each of first 161280 blocks, total 80m)

=== GoldCoin (GLD) ===
* http://gldcoin.com/
* https://www.gldtalk.org/
* https://bitcointalk.org/index.php?topic=317568.0
* blocks every '''2 minutes'''
* coin supply* '''123 million''' coins will be available
* difficulty adjustment* '''60 blocks'''
* hashing algorithm '''Scrypt'''
* reward '''45''' coins per block

=== IxCoin (IXC) ===
* https://bitcointalk.org/index.php?topic=36701.0
* (merged mined with BTC)
* blocks every '''10 min'''
* Coin supply* '''21 million''' coins will be available
* difficulty adjustment '''2016 blocks'''
* hashing algorithm '''SHA1'''
* Reward '''96 '''coins per block

=== Mastercoin (MSC) ===
* http://www.mastercoin.org
* Coin supply: 619478.59338440 MSC
* Launch Date: September 1, 2013
* Blockchain: Uses Bitcoin for transport, storage and security, inherits Bitcoin Protocol properties
* Extended Properties: Distributed Exchange, Savings & Guardian Addresses, Contracts for Difference, Smart Properties, User Currencies
* Protocol: Master Protocol
* Spec Github Repo: https://github.com/mastercoin-MSC/spec

=== Megacoin (MΣC) ===
* http://www.megacoin.co.nz/
* https://forum.megacoin.co.nz
* Block Target is 2.5 minutes
* Block reward halved every every 420,000 blocks
* 25 coins per block
* 42 Million total coins
* Difficulty changes every block

The implentation of the Kimoto Gravity well retargets difficulty every block. This keeps mining fair and secure for all miners and users of the coin, and prevents the rampant multipool abuse that was (and still is) common with most all other altcoins out on the market today.

=== Netcoin (NET) ===
* Main - http://netcoin.org.uk/
* Forums - http://forum.netcoinfoundation.org/
* blocks every '''1 min'''
* coin supply* '''320.6 million''' coins will be available
* difficulty adjustment* '''60 blocks'''
* hashing algorithm '''Scrypt'''
* Initial Reward '''1024 '''coins per block
* Reward Halves '''Every 3 months or 129,600 Blocks'''
* Market Cap: approx. $200,000 (Dec 4th, 2013)
* Launch Date: Sept 2nd, 2013

=== Terracoin (TRC) ===
* http://terracoin.org/
* blocks every '''2 minutes'''
* coin supply* '''42 million''' coins will be available
* difficulty adjustment '''30 blocks'''
* hashing algorithm '''SHA-256'''
* Reward '''20''' coins per block

==See Also==
* [http://bitcointalk.org/index.php?topic=134179.0 List of all cryptocoins] curated list on BitcoinTalk forum.

[[Category:Alternative cryptocurrencies]]

CryptoNote

2014-05-05T11:45:11Z

Moldic:

CryptoNote is an open-source technology that allows creation of completely anonymous CPU-based cryptocurrencies. It proposes concepts and features, which haven't become mainstream in the altcoins yet. The only known digital currency to be based on CryptoNote is [[Bytecoin|Bytecoin [BCN]]].

== Features ==

=== Untraceable payments ===

Unlike traditional cryptocurrencies that mostly use unambiguous signatures to verify the transfer, CryptoNote utilizes ring signature. Ring signature is a more sophisticated scheme, which in fact may demand several different public keys for verification. In this case the transaction is signed by a group of users. Thus, the verifier may only identify that one of them was a signer, but not who exactly that was. The public key of a user may appear in a large number of ring signatures even if it was already used to sign her own transaction.

=== Unlinkable transactions ===

CryptoNote automatically creates multiple unique one-time addresses for each of the payments, which are created from the single public key. Even though the payment is sent to a public address, in the block chain it appears as if sent to a one-time address.

The sender uses randam data and the public address of the receiver to calculate this one-time key of the payment. The redemption of the funds requires the receiver's private key, so only the latter may receive the money sent to the one-time address. Moreover, no third party can discover the link between the one-time key and the receiver's public address.

=== Double-spending proof ===

In spite of being anonymous, CryptoNote's ring signatures restrict the double-spending attempt by linking the transactions with the same private key. The protocol uses the key image, derived from a private key through a one-way function. All the users keep the list of all the used key images, which are checked against a new transaction. In case there is a duplicate key image, the transaction is rejected as a double-spending attempt. However, the identity of the sender would still be unknown, since it is impossible to get the private key from its image.

=== Block chain analysis resistance ===

CryptoNote creates an obstacle for an analyst by using ring signatures and one-time addresses covered above. Every address of the payment is a unique one-time key, which is created from both the sender's and the receiver's data, and the usage of ring signature hides the exact outputs that have been spent for the input. Therefore, each next transaction increases the number of possible senders and hides the actual connection even more.

=== Adaptive limits ===

There are no hard constants and magic numbers in CryptoNote. Each limit (e.g., max block size, or min fee amount) is re-calculated based on the historical data of the system. Moreover, the difficulty and the max block size are automatically adjusted with each new block.
The main idea of the algorithm is to sum all the work that nodes have performed during the last 720 blocks and divide it by the time they have spent to accomplish it. The measure of the work is the corresponding difficulty value for each of the blocks.

=== Smooth emission ===

The coins are emitted smoothly, as the reward changes with each new block. This allows a predictable steady growth of money supply determined by the formula<ref>hhttps://cryptonote.org/inside.php#smooth-emission</ref>:

BaseReward = (MSupply - A) >> 18
MSupply = 2^64 - 1 (atomic units)

=== Egalitarian proof of work ===

CryptoNote uses [[CryptoNight]] hashing algorithm as its proof-of-work. Its main feature is that it is suitable only for the ordinary PCs, since CryptoNight utilizes built-in CPU instructions, which are too expensive to implement in the special purpose devices. Therefore, unlike Bitcoin, it allows preserving the equality among various users and prohibits centralization of the network in the hands of several miners.

== Origins ==

Little is known about CryptoNote's origins. The official website uses supposedly fake names for the team members, while the white paper's author is Nicolas van Saberhagen, which is also likely to be a pseudonym. The white paper "CryptoNote v 2.0" is dated back to October 2013<ref>https://cryptonote.org/whitepaper.pdf</ref>.

The developers have mentioned at CryptoNote's official forum that the team actually consists of cryptographers, developers, and economists, but their identities have to be concealed currently<ref>https://forum.cryptonote.org/viewtopic.php?f=3&t=21#p61</ref>. It was also mentioned that CryptoNote's team and Bytecoin's team have been developing the technology and the currency in a cooperation, but separated soon after the launch<ref>https://forum.cryptonote.org/viewtopic.php?f=3&t=21#p73</ref>.

CryptoNote has have been under development for some time before Bytecoin's launch on the clearnet in March 2014, but there is no evidence of the exact years of R&D. CryptoNote's website mentions "2011—2014" in the footer.

== Implementation ==

The first alternate currency to be based on CryptoNote is [[Bytecoin]]. CryptoNote forum has a separate branch for those who would like to implement the protocol in another altcoin<ref>https://forum.cryptonote.org/viewtopic.php?f=6&t=7</ref>. However, the reference code is still Bytecoin<ref>https://forum.cryptonote.org/viewtopic.php?f=6&t=6#p8</ref>.

== Philosophy ==

CryptoNote philosophy has several key points: privacy as a fundamental human right; government's influence and control remission as an aim.
The economy should be separated from politics, communities should set new transparent principles, and impartial cryptographic algorithms should control its implementation.

== See also ==

* [[Bytecoin]]
* [[CryptoNight]]

== External links ===

* [https://cryptonote.org CryptoNote website]
* [https://forum.cryptonote.org Official forum]
* [https://github.com/amjuarez/bytecoin Reference code]
* [https://cryptonote.org/whitepaper.pdf White paper]
* [https://forum.cryptonote.org/viewtopic.php?f=3&t=30&sid=fe71718a7198f8ccc9e1319e0b1864b6]

== References ==

<references/>

[[Category:Alternative cryptocurrencies]]
[[Category:Digital currencies]]
[[Category:Anonymity]]

CryptoNote

2014-04-28T11:57:23Z

Moldic:

CryptoNote is an open-source technology that allows creation of completely anonymous CPU-based cryptocurrencies. It proposes concepts and features, which haven't become mainstream in the altcoins yet. The only known digital currency to be based on CryptoNote is [[Bytecoin|Bytecoin [BCN]]].

== Features ==

=== Untraceable payments ===

Unlike traditional cryptocurrencies that mostly use unambiguous signatures to verify the transfer, CryptoNote utilizes ring signature. Ring signature is a more sophisticated scheme, which in fact may demand several different public keys for verification. In this case the transaction is signed by a group of users. Thus, the verifier may only identify that one of them was a signer, but not who exactly that was. The public key of a user may appear in a large number of ring signatures even if it was already used to sign her own transaction.

=== Unlinkable transactions ===

CryptoNote automatically creates multiple unique one-time addresses for each of the payments, which are created from the single public key. Even though the payment is sent to a public address, in the block chain it appears as if sent to a one-time address.

The sender uses randam data and the public address of the receiver to calculate this one-time key of the payment. The redemption of the funds requires the receiver's private key, so only the latter may receive the money sent to the one-time address. Moreover, no third party can discover the link between the one-time key and the receiver's public address.

=== Double-spending proof ===

In spite of being anonymous, CryptoNote's ring signatures restrict the double-spending attempt by linking the transactions with the same private key. The protocol uses the key image, derived from a private key through a one-way function. All the users keep the list of all the used key images, which are checked against a new transaction. In case there is a duplicate key image, the transaction is rejected as a double-spending attempt. However, the identity of the sender would still be unknown, since it is impossible to get the private key from its image.

=== Block chain analysis resistance ===

CryptoNote creates an obstacle for an analyst by using ring signatures and one-time addresses covered above. Every address of the payment is a unique one-time key, which is created from both the sender's and the receiver's data, and the usage of ring signature hides the exact outputs that have been spent for the input. Therefore, each next transaction increases the number of possible senders and hides the actual connection even more.

=== Adaptive limits ===

There are no hard constants and magic numbers in CryptoNote. Each limit (e.g., max block size, or min fee amount) is re-calculated based on the historical data of the system. Moreover, the difficulty and the max block size are automatically adjusted with each new block.

=== Smooth emission ===

The coins are emitted smoothly, as the reward changes with each new block. This allows a predictable steady growth of money supply determined by the formula<ref>hhttps://cryptonote.org/inside.php#smooth-emission</ref>:

BaseReward = (MSupply - A) >> 18
MSupply = 2^64 - 1 (atomic units)

=== Egalitarian proof of work ===

CryptoNote uses [[CryptoNight]] hashing algorithm as its proof-of-work. Its main feature is that it is suitable only for the ordinary PCs, since CryptoNight utilizes built-in CPU instructions, which are too expensive to implement in the special purpose devices. Therefore, unlike Bitcoin, it allows preserving the equality among various users and prohibits centralization of the network in the hands of several miners.

== Origins ==

Little is known about CryptoNote's origins. The official website uses supposedly fake names for the team members, while the white paper's author is Nicolas van Saberhagen, which is also likely to be a pseudonym. The white paper "CryptoNote v 2.0" is dated back to October 2013<ref>https://cryptonote.org/whitepaper.pdf</ref>.

The developers have mentioned at CryptoNote's official forum that the team actually consists of cryptographers, developers, and economists, but their identities have to be concealed currently<ref>https://forum.cryptonote.org/viewtopic.php?f=3&t=21#p61</ref>. It was also mentioned that CryptoNote's team and Bytecoin's team have been developing the technology and the currency in a cooperation, but separated soon after the launch<ref>https://forum.cryptonote.org/viewtopic.php?f=3&t=21#p73</ref>.

CryptoNote has have been under development for some time before Bytecoin's launch on the clearnet in March 2014, but there is no evidence of the exact years of R&D. CryptoNote's website mentions "2011—2014" in the footer.

== Implementation ==

The first alternate currency to be based on CryptoNote is [[Bytecoin]]. CryptoNote forum has a separate branch for those who would like to implement the protocol in another altcoin<ref>https://forum.cryptonote.org/viewtopic.php?f=6&t=7</ref>. However, the reference code is still Bytecoin<ref>https://forum.cryptonote.org/viewtopic.php?f=6&t=6#p8</ref>.

== Philosophy ==

CryptoNote philosophy has several key points: privacy as a fundamental human right; government's influence and control remission as an aim.
The economy should be separated from politics, communities should set new transparent principles, and impartial cryptographic algorithms should control its implementation.

== See also ==

* [[Bytecoin]]
* [[CryptoNight]]

== External links ===

* [https://cryptonote.org CryptoNote website]
* [https://forum.cryptonote.org Official forum]
* [https://github.com/amjuarez/bytecoin Reference code]
* [https://cryptonote.org/whitepaper.pdf White paper]
* [https://forum.cryptonote.org/viewtopic.php?f=3&t=30&sid=fe71718a7198f8ccc9e1319e0b1864b6]

== References ==

<references/>

[[Category:Alternative cryptocurrencies]]
[[Category:Digital currencies]]
[[Category:Anonymity]]

CryptoNote

2014-04-28T11:50:10Z

Moldic:

CryptoNote is an open-source technology that allows creation of completely anonymous CPU-based cryptocurrencies. It proposes concepts and features, which haven't become mainstream in the altcoins yet. The only known digital currency to be based on CryptoNote is [[Bytecoin|Bytecoin [BCN]]].

== Features ==

=== Untraceable payments ===

Unlike traditional cryptocurrencies that mostly use unambiguous signatures to verify the transfer, CryptoNote utilizes ring signature. Ring signature is a more sophisticated scheme, which in fact may demand several different public keys for verification. In this case the transaction is signed by a group of users. Thus, the verifier may only identify that one of them was a signer, but not who exactly that was. The public key of a user may appear in a large number of ring signatures even if it was already used to sign her own transaction.

=== Unlinkable transactions ===

CryptoNote automatically creates multiple unique one-time addresses for each of the payments, which are created from the single public key. Even though the payment is sent to a public address, in the block chain it appears as if sent to a one-time address.

The sender uses randam data and the public address of the receiver to calculate this one-time key of the payment. The redemption of the funds requires the receiver's private key, so only the latter may receive the money sent to the one-time address. Moreover, no third party can discover the link between the one-time key and the receiver's public address.

=== Double-spending proof ===

In spite of being anonymous, CryptoNote's ring signatures restrict the double-spending attempt by linking the transactions with the same private key. The protocol uses the key image, derived from a private key through a one-way function. All the users keep the list of all the used key images, which are checked against a new transaction. In case there is a duplicate key image, the transaction is rejected as a double-spending attempt. However, the identity of the sender would still be unknown, since it is impossible to get the private key from its image.

=== Block chain analysis resistance ===

CryptoNote creates an obstacle for an analyst by using ring signatures and one-time addresses covered above. Every address of the payment is a unique one-time key, which is created from both the sender's and the receiver's data, and the usage of ring signature hides the exact outputs that have been spent for the input. Therefore, each next transaction increases the number of possible senders and hides the actual connection even more.

=== Adaptive limits ===

There are no hard constants and magic numbers in CryptoNote. Each limit (e.g., max block size, or min fee amount) is re-calculated based on the historical data of the system. Moreover, the difficulty and the max block size are automatically adjusted with each new block.

=== Smooth emission ===

The coins are emitted smoothly, as the reward changes with each new block. This allows a predictable steady growth of money supply determined by the formula<ref>hhttps://cryptonote.org/inside.php#smooth-emission</ref>:

BaseReward = (MSupply - A) >> 18
MSupply = 2^64 - 1 (atomic units)

=== Egalitarian proof of work ===

CryptoNote uses [[CryptoNight]] hashing algorithm as its proof-of-work. Its main feature is that it is suitable only for the ordinary PCs, since CryptoNight utilizes built-in CPU instructions, which are too expensive to implement in the special purpose devices. Therefore, unlike Bitcoin, it allows preserving the equality among various users and prohibits centralization of the network in the hands of several miners.

== Origins ==

Little is known about CryptoNote's origins. The official website uses supposedly fake names for the team members, while the white paper's author is Nicolas van Saberhagen, which is also likely to be a pseudonym. The white paper "CryptoNote v 2.0" is dated back to October 2013<ref>https://cryptonote.org/whitepaper.pdf</ref>.

The developers have mentioned at CryptoNote's official forum that the team actually consists of cryptographers, developers, and economists, but their identities have to be concealed currently<ref>https://forum.cryptonote.org/viewtopic.php?f=3&t=21#p61</ref>. It was also mentioned that CryptoNote's team and Bytecoin's team have been developing the technology and the currency in a cooperation, but separated soon after the launch<ref>https://forum.cryptonote.org/viewtopic.php?f=3&t=21#p73</ref>.

CryptoNote has have been under development for some time before Bytecoin's launch on the clearnet in March 2014, but there is no evidence of the exact years of R&D. CryptoNote's website mentions "2011—2014" in the footer.

== Implementation ==

The first alternate currency to be based on CryptoNote is [[Bytecoin]]. CryptoNote forum has a separate branch for those who would like to implement the protocol in another altcoin<ref>https://forum.cryptonote.org/viewtopic.php?f=6&t=7</ref>. However, the reference code is still Bytecoin<ref>https://forum.cryptonote.org/viewtopic.php?f=6&t=6#p8</ref>.

== Philosophy ==

CryptoNote philosophy has several key points: privacy as a fundamental human right; government's influence and control remission as an aim.
The economy should be separated from politics, communities should set new transparent principles, and impartial cryptographic algorithms should control its implementation.

== See also ==

* [[Bytecoin]]
* [[CryptoNight]]

== External links ===

* [https://cryptonote.org CryptoNote website]
* [https://forum.cryptonote.org Official forum]
* [https://github.com/amjuarez/bytecoin Reference code]
* [https://cryptonote.org/whitepaper.pdf White paper]

== References ==

<references/>

[[Category:Alternative cryptocurrencies]]
[[Category:Digital currencies]]
[[Category:Anonymity]]