Devcoin: Rewarding All Players Not Just Miners, Added to Cryptsy

Cryptsy has recently added Devcoin (DVC) to its list of over 60 types of Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term traded on its exchange.

Despite getting added for trading only recently, devcoin.org says that the currency itself has been around since 2011, making it one of the longest serving Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term based cryptocurrencies. According to the site, Devcoin is "an ethically inspired cryptocurrency" to "support open source projects by programmers, hardware developers, writers, musicians, painters, graphic artists and filmmakers worldwide". They will appeal to those in need of work, "even if they in an area with more job seekers than jobs".

90% of devcoins generated are invested in open source projects. The remainder are "bounty" to active participants: writers earn by writing, developers earn by developing, marketers by marketing and administrators by helping to administer Devcoin projects.

Bounties are rewarded based on milestones achieved in the cryptocurrency's market cap. When the market cap reaches a certain point, "a massive bounty will be offered for the development of an open source one seater spacecraft which can exit and enter the earth's atmosphere".

The following exchanges currently support Devcoin trading: Vircurex, Cryptsy, and Crypto-Trade. In addition, the site lists a number of merchants already accepting Devcoin as payment.

One devcoin is currently traded at 0.57 μBTC (0.05¢) on Vircurex.

The cryptocurrency currently has a market cap of approx. $2.5M, ranking it 21st among digital currencies.