Devcoin (DVC) is a crypto-currency based on Bitcoin and uses the SHA-256 algorithm as its proof of work scheme. Devcoin was created to help fund open source projects developed by writers and software developers. Contributors in the Devcoin community earn DVC in exchange for their services. These people earn DVC by applying their time, knowledge and effort to help organize the Devcoin project.
Devcoin (DVC) can be traded over at exchanges like Vircurex, Cryptsy, and Crypto-trade. As of this moment, this Bitcoin-based crypto-currency is included in both Litecoin and Bitcoin trading markets. Having said this, you can trade DVC against LTC and BTC, and vice versa.
If the Devcoin exchange charts are to be analyzed, there’s a clear sign that this crypto-currency has poor exchange rate stability. Its weak price/value can be ascribed to its immaturity in the market; since Devcoin (DVC) has recently opened its doors in the trading industry. Although the Devcoin price/value is far from being stable, you can buy and sell DVC at the expense of BTC and LTC.
What makes Devcoin mining unique and interesting is that it promises very attractive block rewards. There’s no definite number of coins to be issued; however, it offers a massive block reward of 5,000 coins, wherein one block can be generated within a 10-minute interval.
You also have the option to participate in a Devcoin mining pool, where you can earn a percentage of the total coin reward. However, if you wish to participate in pooled mining, you have to consider some factors such as pool fees and transaction confirmations.
The only drawback with regards to mining DVC is that it banners a high Devcoin difficulty of 479138179.3634 with almost 120,000 blocks generated. This crypto-currency poses a strong difficulty fluctuation yet shows poor exchange rate stability in the markets. With a higher difficulty fluctuation, it becomes harder to generate the next block, which slows down the generation process and availability.
When mining, remember that you can calculate your estimated profits through the use of Devcoin calculator. Simply type in the required details such as hash rate, power cost, difficulty, exchange rate among many others to compute how much you’ll be earning, whether in hours, days, weeks, months, or even years.
We know that mining necessitates time, effort and great computing power to be able to earn DVC. But there’s one option left for you to earn small amounts of DVC, and this is through a Devcoin faucet. Take advantage of these faucets to receive free coins, just make sure that you already have your Devcoin wallet with you so you can trade and store your acquired DVC.