Questions tagged [alternatives]

Questions about alternative blockchains are off topic unless they are applicable to Bitcoin.

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96
votes
12answers
9k views

Is there a way to set up proof-of-work systems so they would be even more useful?

One of the arguments made against Bitcoin's design choices is that it wastes resources authenticating transactions. In particular, finding small hashes is completely useless for the world. Are there ...
16
votes
5answers
10k views

What Bitcoin-esque alternatives are there? [closed]

I'm seeing lots of bitcoin-esque alternatives mentioned here. What alternatives exist and how do they differ from Bitcoins?
18
votes
1answer
16k views

What are the perceived advantages of bitcoin as a means of exchange?

There are lots of ways to send money - western union, paypal, bank wire, etc that are more established and fairly quick. What are the advantages of using bitcoin from a bitcoin-proponent's point of ...
6
votes
2answers
13k views

What happens if you send Bitcoin to a Litecoin address?

Is it lost forever? What about the reverse: sending Litecoin to a Bitcoin address?
17
votes
8answers
9k views

Why do we need alternatives to Bitcoin?

I don't understand why people need to create alternatives to Bitcoin such as litecoin. Why were these created? What's the point? You can't answer those questions using the same arguments for why ...
17
votes
1answer
1k views

Speed of operations in the Bitcoin network

Did anyone measure how fast transactions spread through the Bitcoin network? For example, how long does it take for a newly generated block to be propagated to most active clients? Mainly asking this ...
4
votes
1answer
387 views

Mini-Blockchain proposal: How is the proof-chain secured against injections?

I have just finished reading the paper Purely P2P Crypto-Currency With Finite Mini-Blockchain by J.D. Bruce. While I got the impression, that the rolling blockchain as an idea might work, I was left ...
2
votes
1answer
539 views

Is Ripple's UNL list maintained by the network?

Who maintains the Ripple UNL list? This says We periodically poll our sources. If they mention a new node with a score over an amount, we add the node to our trusted core set. Who is "we"? Are "...
30
votes
1answer
9k views

What are colored coins?

What exactly are colored coins? I've tried understanding, but I don't quite get it yet . . . Do any examples exist?
4
votes
1answer
433 views

Why is a short blocktime considered to be unsafe?

I've heard a couple of times "a shorter blocktime is unsafe," (first about Litecoin and now Ethereum) but never understood why. Is it the higher probability of a fork? Why do some people consider a ...
13
votes
6answers
1k views

What keeps a dominant Bitcoin client vendor with the majority of the market share from unilaterally changing the protocol?

I've been asking this in the comments, but I'll be more direct. If a third-party Bitcoin client, say "iBitcoin" (for example), becomes the dominant client by acquiring most of the market share, what ...
1
vote
2answers
859 views

How to keep track on new cryptocurrencies

Here is a situation: new cryptocurrencies appears with a huge speed and also most of them are just useless clones, there might be some interesting one with new ideas. I would like be know when they ...
6
votes
3answers
569 views

How to experience the thrill of mining?

Bitcoins are hard to mine now. I've always wanted to actually earn them, but never actually gotten much of anything. I want to create my own blockchain, separate from any other networks, so that ...
5
votes
7answers
11k views

Is there an altcoin that is only feasible to mine by CPU?

I'm interested in mining altcoins, mainly to turn some servers into (literal) space heaters, since it's winter. One thing that really interests me is if an altcoin has been designed to only be ...
3
votes
3answers
2k views

Will bitcoins be devalued by competing digital currencies? [closed]

Bitcoin is becoming more recognizable and trusted. But as it's popularity increases, the supply isn't going to change significantly because the supply is fixed to the internal mining algorithm. This ...
9
votes
3answers
5k views

How to determine what type of coins a wallet.dat contains?

I have a number of wallets. Is it possible to detect the type of (alternative) coin it contains?
7
votes
5answers
6k views

Are there any resources for creating your own coin?

I have some experiments I want to do for creating my own coin. I've seen stuff like coingen.io but I want to do it myself. I also will be messing with other things like the hashing algorithm. Are ...
2
votes
1answer
287 views

If more than one coin did the “mini-blockchain” proposal, would that make the weaker coin vulnerable?

So, I was reading this paper as a proposal to the ever growing blockchain problem. In summary, it's security is provided without a full blockchain by having a proof chain with these fields: Previous ...
2
votes
1answer
241 views

Ripple network overhead

I like the way Ripple provides effectively instantaneous transaction verification. When building consensus how much traffic and their equivalent of orphan blocks are accumulated? Is communication ...
0
votes
1answer
630 views

Can two crypto currencies have the same name?

I noted today that coingen.io makes it easy to make crypto currencies. I was wondering if it makes sense to register currencies named after countries, gods and companies to hoard them. AFAIK there is ...
7
votes
1answer
3k views

Can I CPU mine other coins to win Bitcoins?

I have a useless Nvidia, until now, unconfigurable to mine (7300) So, if I mine just with CPU, can I get more coins mining others coins like NMC,LQC,LTC,SC, or whatever, and trading after for BTCs?
5
votes
4answers
7k views

What does Litecoin offer over Bitcoin?

Litecoin is different from Bitcoin in the following ways, however none of them are particularly useful and on the contrary are only less worthy. 84 million vs 21 millions: since Bitcoin is divisible ...
3
votes
1answer
2k views

Which cryptocurrency has the smallest block time?

What is the lowest block time of any cryptocurrency? I don't mean the time of an individual block, but the target time per block. What is the shortest reasonable block interval?
3
votes
4answers
1k views

Are There Examples of Asset Backed Virtual Currencies?

Here is a very natural idea: an entity creates a new virtual currency with the following properties: Only that entity has the capability to issue new quantities of that currency That entity makes ...
16
votes
2answers
772 views

Can Bitcoin technology be leveraged to implement a decentralized trust system (i.e. a replacement to SSL)?

Like Namecoin is intended to replace / augment DNS, can the Bitcoin principles / protocol be extended to support a distributed "trust" mechanism, in a way that no central authority will need to be ...
15
votes
1answer
2k views

What is the “zeitgeist attack”? Does it affect all blockchain technologies?

What exactly is this attack? It would be nice to have a good explanation of how it works and which chains can be effected by this. Does it apply to the bitcoin main chain, or only the newer and ...
10
votes
1answer
1k views

Turing completeness of Bitcoin Script

For me, scripts are one of the most interesting features of Bitcoin. They provide possibilities which have no equivalent in classical currencies. However, the wiki states It is purposefully not ...
7
votes
5answers
1k views

Should fractional reserve banking be prohibited through the bitcoin protocol or otherwise, and how could such a change be implemented?

There's a massive macroeconomic debate between Keynesians, who want central banks to control the money supply, and Austrians who want no central banks doing any such thing--or at least competing ...
9
votes
4answers
18k views

Is there an opensource crypto-currency exchanges engine?

I'm looking for an opensource crypto-currency exchange engine. My preference would be for something easy to use like joomla or drupal. My exchange setup needs support for alt-coins and bitcoin. I ...
13
votes
2answers
3k views

What is Proof of Burn?

Can someone explain me: What is Proof of Burn What is the difference between Proof of Burn and Proof of Work How Proof of burn works Which virtual currency uses Proof of burn technology instead of ...
10
votes
2answers
460 views

Decentralized transactions between two decentralized currencies

Currently, bitcoins and namecoins are implemented using the Bitcoin protocol. And there might be several reason for new block chains to appear, but this is not the subject here. As far as I know, ...
9
votes
1answer
546 views

Different ways to encode Bitcoin Address

What are the different ways to encode a Bitcoin Address (both private and public) and how are they calculated? I've heard of things like firstbits, mini private key format, and I`d like to know how ...
7
votes
2answers
450 views

Is there an easy way to diversify your Bitcoin holding among the other popular forks?

Recently there has been a spread of Bitcoin clones, starting with Namecoin and following with other newer clones. There is a chance these coins will appreciate relative to Bitcoin. Is there an easy ...
6
votes
2answers
755 views

Is there a uniform measure of “difficulty”, that when multiplied by price, will give “profitability of one hour of mining”?

I recently open Bitcoin Pie, a site that compares crypto-currencies. Given the exchange rate in BTC, I would like to add another column that tells "relative mining profitability", regardless of the ...
4
votes
1answer
153 views

Is there a website that compares the features of different cryptocoins?

Is there any website where I can find a comparison of different altcoins by features? I'm not interested in hashrate, price, difficulty, but rather in implemented features such as: Used difficulty ...
3
votes
3answers
13k views

Where do these coins gain their value?

I have been mining coins for a long time (started with BTC/LTC years ago, moved to altcoins recently) and have realized I am not clear on the actual source of the value. Do the exchanges deem the ...
6
votes
4answers
268 views

Can new types of transactions be included the current block chain?

I was putting an answer for this question together when I realised my idea would require a new type of transaction to be invented and included in blocks. Then I wondered how that could work. There ...
4
votes
1answer
974 views

Ripple Distributed Consensus Algorithm

What kind of a Consensus Algorithms does ripple use? Is that a leader or leaderless distributed consensus algorithm? Then what?
4
votes
1answer
316 views

What client to use for an alternative special purpose blockchain?

Lets say one wanted to create a blockchain for the purposes of providing a scalable back-end for accounting for the trade of some arbitrary unit between people. It would not be a tradeable currency. ...
1
vote
1answer
214 views

Possible to temporarily reduce the supply of a cryptocurrency?

Does a cryptocurrency that can have its supply be reduced based on some factor currently exist? If not, is this possible? If so, how?
7
votes
2answers
434 views

Bitcoin over HTTP?

Are there any implementations of a Bitcoin client that would run over HTTP, allowing one to communicate by, for example, sending raw message bytes as a POST? Edit: I'm not looking for ways to control ...
6
votes
1answer
1k views

List of Bitcoin forks or spinoffs [duplicate]

I've just heard about another digital currency called Litecoin, which I believe to be based on Bitcoin, are there any more alternatives to Bitcoin & Litecoin? Any one got a list? A reason why the ...
6
votes
3answers
697 views

Is there an easy way to check out the market cap of the alternative currencies?

Ideally, I'd like to see a pie chart with the whole pie being "Bitcoin-derived crypto currencies", and each major alternative represented as a market cap in Bitcoins and USD. Currently, from what I ...
5
votes
2answers
547 views

How does Nextcoin convert 256-bit Curve25519 public keys into ~20 arabic numerals?

Nextcoin seems to convert 256-bit Curve25519 256-bit public keys into "account numbers" that have only arabic numbers and seem to only have a length of 20. How is that done? Examples In the ...
3
votes
2answers
3k views

Profitability comparisons for Quarkcoin and Primecoin?

I've found sites where you can put your hash rate for scrypt and SHA-256 to check which cryptocurrency would be the most profitable for you to mine, such as: http://dustcoin.com/ http://www.coinwarz....
2
votes
1answer
212 views

“Instantaneous” transaction verification?

Jan Moritz Lindemann graciously educated me that difficulty is used not only to regulate the creation rate of a cryptocurrency but also to allow for block propagation thus prevent orphaned blocks. ...
2
votes
1answer
497 views

Non bitcoin like blockchains

I have been going through a lot of articles lately which stress on the fact that blockchain technology is going to revolutionize a lot of industries like finance, supply-chain, health care, etc. On ...
1
vote
1answer
677 views

How does estimated coins calculated on Coinotron?

On 'Cointron' their is wallet table after logged in into the site, how they calculate estimated coins per day, estimated rewards, confirmed rewards and unconfirmed rewards? How does Coinotron derive ...
1
vote
1answer
213 views

Is PBFT a consensus algorithm?

Can we consider PBFT (Practical Byzantine Fault Tolerance) as a consensus algorithm ? And if yes, How does it work? And is it similar to other consensuses such as PoW, PoS or PoA ? Or it is totally ...
0
votes
1answer
265 views

Purpose of difficulty?

Is the purpose of difficulty only to manage the rate of a cryptocurrency's creation, or should difficulty also increase over time to compensate for Moore's Law for a consistent level of security? ...