Inifinitecoin Alternative Coin
What is a Infinitecoin?
Infinitecoin, also known as IFC, is an alternative cryptocurrency coin that was created in June of 2013 and has due to its massive amount of coins managed to become a very popular coin. It was created by a user on Bitcointalk known as fisheater and resembles the Bitcoin in many areas, such as decentralization and anonymity, but also has its own new things to bring to the cryptocurrency industry. The creator wanted to make a better version of the Litecoin and uses the same proof-of-work scrypt for mining, with the main difference being that there will be 1142.86 times as many Infinitecoin's going into circulation.
The Infinitecoin doesn't stand out from the crowd very much, in comparison to some of the other cryptocurrencies that has been launched the past year. It is basically a newer version of the Litecoin, with a lot more coins going into circulation and with a very small value per coin. It is scrypt based, has a 30 second block speed and retargets the difficulty every hour of mining. For every 86.400 blocks mined, the reward will be cut in half, starting with 524,288 coins in rewards for each block. There were no coins pre-mined and the transaction fee is optional up to 10 Infinitecoin, where after it will be charged with 1% on all transactions.
Transactions are very fast compared to Bitcoins and takes only a few minutes in total from the coins have been sent until they are received in the other end. It is relatively easy to mine the coins and with the huge rewards it provides for the miners it has been mined out right from the start.
Infinitecoin is currently the 13th biggest cryptocurrency in the world, measured by market capitalization value. There is a massive 90,103,600,000 Infinitecoin's in circulation currently, having a very small value of $0.0001 per coin providing a total of $9,289,335 worth of coins in total. It is not expected to grow very much in value over the next period of time, simply because it doesn't bring a whole lot of new things to the community. You can buy Infinitecoin's in cryptocurrency exchanges with Bitcoins and you can otherwise mine them through the Infinitecoin wallet.
You can see a video presentation of Infinitecoin by clicking the link below:
What Can I Use it For?
Infinitecoin can be used as a payment method for the online stores that have chosen to accept the new cryptocurrency, however it is not very many so far. Furthermore the coin can be used to invest in cryptocurrencies, only problem with doing so is that it is so stable in value that it is difficult to turn a large profit. There are no gambling sites currently accepting Infinitecoin's as a payment method, making it not one of the most usable coins out there.