Feathercoin is a crypto currency that made its first public appearance on the Bitcointalk forum on April 16th 2013. Its lead coder is Peter Bushnell, an IT officer at Brasenose College, Oxford University. Feathercoin began as a type of imitation of Litecoin and like other crypto currencies has a decreasing generation of new coins, with a 336 million hard limit. Like Litecoin, Feathercoin blocks are confirmed every 2.5 minutes, compared to 10 minutes for bitcoins.
One of the altcoins created during the bitcoin rally of the spring of 2013 that was inspired by the financial crisis in Cyprus, Feathercoin began trading on BTC-e in May 2013, and has since steadily been among the top 10 digital currencies in market cap. However, interest has been dwindling in 2014 with prices declining throughout the year, while volumes have been stagnant.
Feathercoin has the distinction of being one of the first digital currencies to get hit with a 51 percent attack as on June 2013, the Feathercoin network suffered multiple devastating 51-percent attacks. During that time, the attackers gained enough hash rate to create his or her own blockchain. This gave the attacker the ability to bring the authority of the original blockchain into question, and created “orphan” blocks in that blockchain. As a result, Feathercoin still carries along its legacy of being a less secure coin. and Even with the later introduced ACP, this remains a serious issue for Feathercoin, and confirmations should be generally considered much less secure than a comparable number of confirmations on Bitcoin or Litecoin networks.
WEBSITE:
Be First to Comment