Alphacoin (ALF) is a new and innovative decentralized crypto-currency based on Litecoin. The former is using the same scrypt algorithm and has a relatively faster transaction confirmation time. Given this fact, Alphacoin (ALF) is an operational crypto-currency that can be used in real-time transactions.
How to get Alphacoin
Before you get started using Alphacoin, you need to have an Alphacoin wallet first. Your digital wallet is what allows you to transact with other users. Once you have your wallet, you can send and receive coins easily and hassle-free.
There are several ways to obtain Alphacoin; however, the most popular method is to do Alphacoin mining. In order to start mining, you will need to download the software and have it installed in your computer. Once the software is installed and configured, create an Alphacoin address to receive payments.
Meanwhile, pool mining is a way for multiple users to work together to mine Alphacoin, and to share the benefits fairly. Alphacoin (ALF) is ordinarily only ever created in chunks of 50 at a time, with the whole 50 paid to a single person. Furthermore, mining is more like a business and the competition gets tougher every passing day. Hence, if you set mining on your own, it may be a long time before you can make profits. With Alphacoin mining pool, you can receive smaller, steadier, and more frequent payouts instead. If your computer has lower specifications, then pooled mining may be the only way that you will ever mine any coins at all.
On the other hand, if you are new to using Alphacoin, you can try your hand with Alphacoin faucets to obtain free coins. These “faucets” are basically websites that give you a small amount of coins for free. IP addresses that receive free coins were recorded, so that coins were given only once to each address.
The Alphacoin difficulty retargets every 30 minutes. If you successfully solve the algorithm, you will be rewarded 1 block which is equivalent to 50 coins. Additionally, 4 confirmations are required for each transaction; so every transaction will be confirmed in 2 minutes.
If you’re into pool mining, the estimated expected earnings can vary greatly depending on the pool’s efficiency. If you’re mining solo, the estimated rate of earnings can vary greatly depending on your luck and orphan rate. The results are determined through the use of Alphacoin calculator. Just like Bitcoin calculator, the former computes the mining results that you can achieve with a given hardware setup. It helps users determine the potential income per day, as well as the number of days needed to generate one block.
Cryptsy is one of the most popular Alphacoin exchanges online. It has a lot of markets to trade on and offers an easy way to get started. In this site you can view Alphacoin’s price/value as well as its trading volume for that specific month. The high, low, open, and close positions are indicated on the charts for your reference. All the information you need is provided to ensure you are properly guided during your trading session.
Alphacoin and Bitcoin
Alphacoin and Bitcoin have a lot in common; this is because the former is based on the latter’s technology. One possible way to view Alphacoin is as silver to Bitcoin’s gold; in the sense that it is a relatively less valuable cryptocurrency that is easier to acquire and transact with. The market entry costs for Alphacoin mining are cheap; hence, anyone with a computer connected to the Internet can do mining in order to make profit. Even CPUs can be used to mine Alphacoin, albeit less effectively than modern GPUs.