As an open source digital currency platform, Feathercoin or FTC offers denominations linked to Bitcoin and many other alternative coins like Litecoin but it offers quite a different experience that many users have come to appreciate. Adopting the blockchain technology with the aim of making it open for all to participate, this currency platform, which evolved from Litecoin has gone on to design and develop its own protocol which is comparable if not better in some respects to Bitcoin and Litecoin. The most exciting part of this versatile platform is its NeoScrypt algorithm which has met with a good deal of success since the platform was first launched.
A user can look forward to Feathercoin for its relative ease of use. First a user needs to get a wallet, which will have configuration for different operating systems like Mac, Linux, Android and Github. The wallet is needed for storing of the FTC currency which is fast gaining acceptance across a large number of merchant sites all over the world. Since the transaction charges are negligible, the merchant sites can’t pass on these charges to the end user as they do on most other platforms. This currency platform is quite fast and secure for payments made globally.
Mining of Feathercoin is done differently from that of Bitcoin; in the case of the latter, the algorithm SHA-256 is used, while in the case of the former, the password-protected algorithm, NeoScrypt is used. It has been designed as a lighter value currency which is easier for both users and miners who can then collect the coins on their wallets for multiple uses. These lighter currencies are ideal for users who don’t have deep pockets and are happy to operate with smaller amounts. However, currency platforms can’t afford to ignore such users because collectively these smaller users help businesses acquire scale.
The NeoScrypt algorithm is said to have some limitations with encryption technologies although it has performed better than expectations for Feathercoin till now. The currency platform has grown much larger than Litecoin and there has been a sharp increase in the level of its ‘difficulty’ (difficulty indicates the computing effort needed to locate newer mining blocks in a currency platform). The difficulty levels also indicate how fast a particular currency has been able to grow since it is proportional to the number of users on the platform at any point of time. FTC’s difficulty metrics of its first week equaled that of Litecoin’s entire first year’s difficulty and this undoubtedly indicates exponential growth.
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