Long lasting ethical digital currency Devcoin recently reached its highest dollar value in history – with 1 million Devcoins now worth approximately $900 USD. Devcoin stands out from the other Bitcoin-like currencies because it is the only currency which can be generated by non-miners, as a reward for the open source work they create. It can also be merged mined with Bitcoin so miners are not left out. Devcoin was created with a unique world changing mission in mind – to fund open source development of all kinds; including writing, programming, music composition and other arts, and even cutting edge engineering feats such as 3D printers, and when the market cap reaches a high enough level, a spaceship.
The Devcoin project began in mid 2011 and has been going strong ever since. Devcoin is now close to two and a half years old. As one of the longest running successful digital currencies, it is already showing that it is here to stay and is a relatively safe investment for anyone looking to gain a position in cryptocoins. When investors buy and hold Devcoins they are also supporting the mission of Devcoin which is to support open source development by paying the developers decent wages. Devcoin hopes to bring an end to the all too common starving artist situation. The Devcoin developers believe the world will truly be a better place when artists and developers can actually earn a living through their beneficial work.
One typically acquires cryptocurrencies such as Bitcoin by mining, a process where computing power is put into solving complicated algorithms which support the coin’s network and open virtual blocks, releasing the coins. While in the early stages of Bitcoin anyone with a computer could be a miner, it currently takes expensive specialized hardware and well cooled warehouses to mine with any sort of profit. The Devcoin mining algorithm is structured to give 90 percent of the proceeds to open souce writers, artists and developers to compensate them for their work. Writers can contribute content to the Devtome in exchange for generated (mined) Devcoins. The Devcoins will show up in their wallets a few weeks later. All the writer needs to do is what he or she does best: write. This unique distribution mechanism puts Devcoins into the hands of a wider demographic than the computer mining type. It has also likely fueled the steady increase in value up to this point as the people who earn Devcoins often use their earnings to build up a viable Devcoin economy. The number of merchants who accept Devcoin in payment for their product is 15 and growing, aided by the support of Cryptocurrency payment gateway CoinPayments. Developers who do work other than writing can apply for Devcoin bounties which get awarded upon satisfactory completion of their project.
The Devcoin network is primarily supported by miners who merge mine Devcoins with Bitcoins. These miners view their Devcoin earnings as free additional mining profit and so are willing to continue to support the DVC network, despite only receiving ten percent of what they mine. Consistent miner participation keeps the Devcoin network secure and robust and helps transactions confirm quickly.
With its long successful run of over two years, its secure and robust network supported by miners, its unique feature of allowing open source developers worldwide to earn DVC, and its consistent support of open source projects which will better the life of all humanity: Devcoin stands out as the most original and ethical Bitcoin alternative in existence. Being at its highest dollar value in history, Devcoin shows no signs of slowing.
To learn more please go to: http://devcoin.org
Devcoin Funding For Open Source Projects:
Devcoin Merchants and Services: http://www.devtome.com/doku.php?id=where_to_spend_your_devcoins
Devcoin Payment Processor For Merchant Checkouts And Invoicing:
Current And Future Devcoin Bounties According to Market Capitalization:
Devcoin Accepted Here Button For Merchants Use:
For the technically minded here are the Devcoin (DVC) protocol details:
- Similar to Bitcoin, Devcoin uses the SHA-256 cryptographic algorithm
- 10 minutes block target.
- 50 000 DVC per block reward, to ensure there is no deflation this block reward never decreases. 5000 DVC goes to miners (who can merge mine DVC for free when they are mining Bitcoin), and 45 000 DVC goes to the open source developers and projects on the receiver files.
This Press Release is for informational purposes only and should not be taken as investment advice. Please consult with your financial advisor before investing in DVC or any other digital currency.