Category Archives: Cryptocurrency

BitCoin, LiteCoin, etc.

MazaCoin

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MazaCoin (currency symbol: MZC) has been designed to have a fast-moving, safe yet easy-to-mine blockchain. It has all the standardized features of any other cryptocurrency, with certainmodifications. MazaCoin uses the SHA-256 proof-of-work mining protocol, which helps to reduce clogging of landfills as it encourages the recycling and re-purposing of dated ASIC mining hardware.MazaCoin uses peer-to-peer technology and is a decentralized digital currency, which means that the transactions and issuing of coins is managed collectively by the network.

MazaCoin has been pitched for the long term; thus the prime focus for the developers has been on providing the currency with features like a slow deflationary curve along with stable value retention. It has a block target time of 120 seconds with quick difficulty readjustment (every fourblocks based on the previous 90 blocks). Overall, MazaCoin allows for ease in carrying out everyday transactions, as well as being a stable store of wealth.

The Traditional Lakota Nations landmark decision to adopt a cryptocurrency as its official currency may pave the way for many other types ofcryptocurrency in the times to come.

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MazaCoin

Peercoin

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Peercoinis the first cryptocurrency to introduce a proof-of-stake and proof-of-work hybrid system. The coins are initially mined through the commonly-used proof-of-work hashing process but as the hashing difficulty increases over time, users are rewarded with coins by the proof-of-stake algorithm. Proof-of-stake block generation is based on the coins held by individuals; thus, someone holding 1% of the currency will be rewarded with 1% of all proof-of-stake coin blocks.

Block generation through proof-of-stake requires minimal energy as compared to generating hardware-intensive proof-of-work hashes. Thus as the proof-of-work blocks become less rewarding, there is a transition to using theproof-of-stake portion of the algorithm, which requiresminimal energy for generating blocks. This means that over time, the network of Peercoin will consume less energy. In addition, the hybrid system of block generation also helps to increase security. The use of proof-of-stake system raises the cost of an attack, since acquiring 51% of all existing coins is more difficult than acquiring 51% of all mining power.

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Peercoin

Machinecoin – free and decentralized peer-to-peer cryptocurrency. – Video

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Machinecoin - free and decentralized peer-to-peer cryptocurrency.
The Machinecoin is a free and decentralized cryptocurrency that was created on the basis of Litecoin and Bitcoin. Get your wallet for Windows, Linux, Mac OS X and Android: http://machinecoin.org.

By: Machinecoin

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Machinecoin - free and decentralized peer-to-peer cryptocurrency. - Video

Bitcoin sponsors bowl game

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Updated JUN 18, 2014 3:51p ET

The mysterious cryptocurrency Bitcoin is now the host of a real, actual college football bowl game, named the Bitcoin St. Petersburg Bowl.

Indeed Bitcoin is a cryptocurrency, not a business or sentient body: The money for the three-year sponsorship is actually coming from BitPay, a Bitcoin brokerage startup headquartered in Atlanta that provides payment processing for businesses that accept Bitcoin.

The deal betweenESPN Events and BitPay to replace Beef O'Brady's as the naming sponsor is for three years, from this season's December 26 game and through 2016.According to its new conference affiliation, the bowl features one team from the ACC and an opponent from the American Athletic Conference.

Will the Bitcoin St. Petersburg Bowl enjoy a long-running sponsorship like Tostitos and the Fiesta Bowl for 18 years, or will it go down as a random, comical footnote, like theGalleryfurniture.com Bowl (2001), thePoulan Weed Eater Independence Bowl (a decent six-year from beginning in 1990), or Roady's Truck Stops Humanitarian Bowl (2007-09)?

Bitcoin has been quite volatile thus far, so we shall see. As far as the Bitcoin Bowl player swag bags it could get weird.

[H/T Deadspin]

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Bitcoin sponsors bowl game

Japan’s ruling party drops Bitcoin regulation plans

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Summary: For now, at least, Japanese authorities will not take steps to regulate cryptocurrency.

Japan's Liberal Democratic Party, the current leading power in the country, will not regulate Bitcoin -- at least for now.

After the collapse of once-dominant Bitcoin exchange Mt. Gox, based in Tokyo, Japanese authorities held talks to decide whether the virtual currency required regulation. In February, the Bitcoin trading post suddenly closed its doors after losing approximately 850,000 BTC, worth $450,000 at the time. Several months later, the shuttered exchange which lost customer funds due to years of systematic cyberattacks that went under the radar said it had rediscovered 200,000 BTC in old wallets.

While few details have been officially released concerning the demise of the Bitcoin exchange, it is believed that poor security and flawed accountancy practices allowed such a vast amount of the cryptocurrency to vanish, resulting in the firm's bankruptcy. The company is now officially under US bankruptcy protection, and has also applied for the same protection in Japan.

Governmental bodies around the world are considering how, if at all, to regulate virtual currency. The high-profile failure of the Bitcoin exchange has left regulators concerned about protecting investments, and questioning whether the decentralized currency which is not overseen by any central bank should be brought under control. In Japan, officials have decided that pushing through legislation to control cryptocurrency is not appropriate at least, for now. On Thursday, Takuya Hirai, an LDP lawmaker and leader of the Japanese party's Internet media unit, said:

Basically, we concluded that we will, for now, avoid a move towards legal regulation.

China, however, has taken a hard line with Bitcoin, and has strangled virtual currency-based businesses in the country. The People's Bank of China (PBOC) ruled from April that banks and payment firms had to stop trading in the currency, and all the accounts opened by the operators of websites that trade in cryptocurrency had to close, or be frozen.

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Japan's ruling party drops Bitcoin regulation plans