It seems like every day a new alt coin is released to the public. Many of these are nothing more than a simple clone of Bitcoin or Litecoin, offering nothing new other than revised block times or difficulty retargetting algorithms. The crypto coin world hasn’t seen anything really innovative in quite some time. However, there are a few projects out there that are planning to revolutionize the way we look a virtual currencies. This is a testament to all the great ideas and wonderful people in the alt community. People are always willing to bring things to the next level. The following is a list of 5 currencies currently in development that are all significantly different from their counterparts and truly set themselves in a pack of their own.
eMunie is planned for a September 2013 launch and includes many innovations that should help push crypto to the next level. It is a self regulating, energy efficient that discourages hoarding. eMunie is similar to the current cryptocurrencies with the use of a public ledger storing transaction details. What differs, is that the p2p network will consist clients, seeder and hatchers. Any peer will be able to perform one or more tasks depending on which role the user wishes to assume. This different model makes also makes this coin resilient to attack and double spending hacks. The system will constantly “audit” itself and perform rigorous testing to ensure that all nodes are honest and that it is working correctly. This currency will feature a built in, secure anonymous messaging system will allow for untraceable communications between 2 or more parties. eMunie is also planning on developing the first true P2P decentralized exchange service with a lself regulating supply determined by demand signals. It will also include proof of stake interest.
The primary focus for decrits is to develop a virtually attack proof coin that is both energy efficient and profitable. The network is secured by a ledger system which is basically a ledger of account balances. This alone will use a much less energy that Bitcoin. Energy costs will be so low because of this ledger aspect that it will allow more people to participate. Much like Bitcoin, the p2p nodes will be responsible for transmitting the transaction data and ensuring anonymity. You will also get paid dividends for securing the network. Decrits have anti-hoarding and minting features that will benefit people that actually spend the currency. This will encourage both spending and accepting the currency.
Netcoin aims to truly improve the features of all existing crypto currencies by combining the best features from all of them and leaving out the bad. It also aims to bring forth new concepts to the crypto world. Netcoin uses a modified proof of work algorithm in an effort to make this the most ASIC/FPGA resistant cryptocurrency to date. The currency will also use a ligher version of the blockchain to ensure for faster sync times and faster transactions. There will also be a built in voting system to allow users to vote on the direction and decisions for the coin going forward.
ZeroCoin is an add-on to the Bitcoin protocol. It has the ability to render all transactions completely anonymous using provably fair cryptographic techniques. It’s widely known that Bitcoin transactions are all fully viewable by anyone in the world. Zerocoin will be merge mined along with Bitcoin. This will require editing to the core Bitcoin code to be successfully implemented which is no easy task as Bitcoin is already into full swing. A lot of things will need to happen before Zerocoin becomes a reality, however, there is a growing number of supporters out there for this project.
5. Mini-Blockchain Project
This is a protocol and not a coin. This project aims to solve the large blockchain issue that is currently affecting Bitcoin. With so many transactions, it can take up to 24 hours to sync a Bitcoin wallet for the first time. They will attempt to solve this problem by using a finite mini-blockchain ensuring consistently fast synchronization times, faster transactions and lower fees.
Be sure to keep an eye our for these new and interesting projects.
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