Review on Mincoin by Pedro O. Alvino M.
peer-to-peer cryptocurrency using scrypt
Mincoin a peer-to-peer cryptocurrency that is designed under the characteristics of Bitcoin and Litecoin, its main objective is to offer a stable network for consumers who can count on fast transactions with a minimum of transaction cost, since it is active Since 2013 you still have plans for this year to continue improving its network and other secondary characteristics.
By using the same Litecoin algorithm that in this case is scrypt as proof of work, where they also optimized the block temp to make transaction processing even faster, which in this case the Mincoin network can support intervals of 60 seconds, for the distribution of transactions and blocks, making the network more efficient and there is no delay in the network.
Despite having time in the market, its community is not very large, let's say, unlike Bitcoin and Litecoin, which is a cryptocurrency that is based on these two projects, but more optimized, it does not have a respectable community, put over time the price of the coin has not paid off as it wanted.
Pros
- It has a long history in the cryptocurrency market
- Open source project under MIT / X11 license.
- Supports a high volume of transactions without the need to modify the software in the future.
- The wallet that provides highly secure encryption that protects against Trojan malware and viruses
- Use scrypt as a proof of work algorithm. Cons
Cons
- Consists of very low cryptocurrency trading volume.
- It does not have a respectable community despite having a considerable track record in the market
- The mining reward is not usually profitable due to the low price of the currency.
