Feathercoin (FTC for short) is an encrypted currency based on the scrypt algorithm. Its mining methods and system functions are similar to Bitcoin and are considered to be the digital currency closest to Bitcoin. Like Bitcoin, there are many mining pools for miners to join. Both Bitcoin and Litecoin can be purchased with Feathercoin.
Feather coins come from the ancient Roman coin prophecy that the white pigeon queen created feather coins. In a nutshell, Feathercoin is similar to the current popular Bitcoin. It is based on a set of cryptographic codes and generated through a complex algorithm. This rule is not subject to interference by any individual or organization and is decentralized; anyone can download and run the Feathercoin client to participate in the manufacture of Feathercoin; Feathercoin uses electronic signatures Ways to achieve circulation, through the P2P distributed network to check repeated consumption. The generation and consumption of each feather coin will be recorded and notified to the entire network through the P2P distributed network, and there is no possibility of forgery.
Feather coin, referred to as FTC in English. It was released on April 16, 2013 and is a new virtual currency based on Litecoin, an open source Internet currency. The total amount is 336 million, which is 4 times (84 million) of Litecoin and 16 times (21 million) of Bitcoin. The algorithm is scrypt, the difficulty is adjusted every 2016 blocks, and each block produces 200 FTC.
Feather Coin does not rely on specific currency institutions to issue. It is generated by computer calculation through the scrypt algorithm. Feather Coin Economy uses a distributed database composed of many nodes in the entire P2P network to confirm and record all transaction behaviors.
Scrypt
In cryptography, scrypt (pronounced “ess crypt”) is a key derivation function invented by Colin Percival in 2009. It was originally designed to be used on the Tarsnap service he created. Considering large-scale customized hardware attacks during design, deliberate design requires a lot of memory operations. In 2016, the scrypt algorithm was published in RFC7914. A simplified version of scrypt is used in Proof-of-Work for several cryptocurrencies.
The reason scrypt requires a large amount of memory comes from the generation of a large amount of pseudorandom (English: pseudorandom) data as the basis for algorithm calculations. Once these data are generated, the algorithm will read these data in a pseudo-random order to produce results. Therefore, the most direct implementation method will require a large amount of memory to store these data in the memory for algorithm calculations.
On the other hand, since the pseudo-random data is generated through algorithms, in practice, it can also be calculated when it needs to be accessed to reduce memory usage. However, due to the high computational cost, this implementation method will greatly reduce the speed of the algorithm.
This is the Space-time tradeoff considered in the design of scrypt. Attackers can use the latter method but the calculation speed is very slow, or use the former method but it is difficult to massively parallelize due to the memory cost.
The Comparison Of Feathercoin And Bitcoin
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Currency
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Number of Coins Available Per Block
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Average Transaction Verification Time
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Monetary Aggregate
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|---|---|---|---|
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Feather coin
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80 Set
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2.5 Minute
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3.36m
|
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Bitcoin
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50 Set
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10 Minute
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The Features Of Feathercoin
- Resist 51% Attacks:On August 28, 2013, the FTC implemented advanced dynamic checkpointing technology to keep away from 51% threats and ensure the security of online transactions. Advanced checkpoints allow us to issue checkpoints dynamically in real time, without the need to change the Feathercoin client again. This mechanism has a’master node, which checks every block it sees on the network and protects it from attacks. This checkpoint is then adopted by the rest of the clients on the network, which will ignore any blocks produced by the 51% attack. This will protect merchants from the risk of rolling back transactions and also protect miners from losing newly mined bitcoins. With advanced checkpoints, Feathercoin will become the most secure cryptocurrency among all Scrypt algorithm cryptocurrencies. Currently Bitcoin or Litecoin does not have such protection.
- Fast Payment:Feathercoin can handle a larger transaction volume than its rival Bitcoin. Since data blocks are generated more frequently, the network can support more transactions, and there is no need to modify the software in the future. Therefore, merchants can obtain faster transaction confirmations and can still wait for more transaction confirmations when selling large-value commodities.
Feathercoin Wallet Client
In order to reduce the violent fluctuations in difficulty, a new version of the latest version of the FTC 0.6.4.4 client was released on September 27, 2013. This update is mainly to further refine the adjustment strategy of difficulty. Although the current FTC difficulty adjustment strategy has allowed us to get out of the predicament, in the long run, miners experience 41.4% fluctuations every time they adjust, which is unfair to them. The new version of the client will adopt a more frequent difficulty adjustment strategy, that is, the difficulty is adjusted once every 126 blocks, and the difficulty fluctuation range is about 9%. In order to prevent the difficulty from rising and falling too fast, continue to maintain the current 504 block cycle and introduce damping to reduce fluctuations between extremes.
Computer Mining Feather Coins
The difficulty of mining Feathercoin in 2013 is not too great. If you have a high-end graphics card, you can mine Feathercoin. The general procedure is to register a mining pool account and use general mining software, such as CG, to mine feather coins.
Market Buy Feather Coins
At present, Feathercoin has realized global online trading, exchange, and settlement. It can be purchased in RMB in the domestic market, and it can also be purchased in US dollars and Bitcoin in the international market.
How To Use Feather Coins
Each Feathercoin wallet client generates a unique Feathercoin address by default. Regardless of whether you purchase or mine Feather Coins, you need to remit the coins to this address so that the Feather Coin wallet client can receive and store your Feather Coins. Feather coins are sent from one wallet to another, which requires 6 confirmations. Generally, the transaction is confirmed within 2.5 minutes.
How to mine Feathercoin?
Since Feathercoin (FTC) is an electronic currency derived from secondary development on the basis of Litecoin (LTC), in terms of mining methods, Feathercoin’s mining method is almost the same as that of Litecoin, and different places are also Only the port number is different. If the user already understands the mining method of Litecoin, then I believe that the mining operation of Feathercoin will be very simple, so you can directly perform the mining operation of Feathercoin.
If the user is not so familiar with Feathercoin (FTC), you can first learn more about what Feathercoin is? What’s the use? If the user has some understanding of Litecoin before operating Feathercoin, then you can start Feathercoin Of mining.
- Step 1: Click to download the Feathercoin FTC mining software CGMiner.
- Step 2: If you want to have high mining efficiency, you must first find a good Feathercoin (FTC) mining pool. If the user does not plan to find other Feathercoin (FTC) mining pools, then this step is to find a new mining pool. It can be omitted.
- Step 3: If the graphics card used by the user is an NVIDIA series graphics card, this step can be skipped, but if the graphics card is an ATI series graphics card, you must first update the graphics card driver to the latest version, and then download and install one AMD SDK
- Step 4: Unzip the previously downloaded CGMiner to a certain directory, then enter the cgminer folder, in the cgminer folder, create a new text file (TXT), the content is written as cgminer –scrypt -o http:/ /204.10.105.113:9377 -u XXXXXX -p btc38, change the above XXXXXX to your FTC wallet collection address, and then save it.If you don’t know what the FTC wallet address is, download a Feather Coin (FTC) wallet client first. At this time, you can see your own wallet address from the receiving currency in the client.
- Step 5: Change the .txt suffix of the newly created TXT text file to .bat suffix.
- Step 6: Double-click to run the bat file that was prepared before. At this time, cgminer is officially running, which means that mining has started. Then try to wait for a few hours, and then look at Feather Coin (FTC) How much has the FTC balance in the wallet increased. Sometimes because there are more people mining now, the difficulty of mining will be higher, so if the performance of the personal graphics card is not good, it may take a while to get FTC income.