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"Bitcoin Clone, iXcoin (IXC), Surges To A 3,950% Rise In Value In 3 Months"
iXcoin, a bitcoin clone that has somehow managed to stay under the crypto-gold-rush radar, has had an impressive few months with an explosion in value and network mining power. iXcoin’s market capitalization reached a high of $4.3 million in mid-December 2013, an increase of over 3,950% since September 2013 when it was only valued at $105,800. It has been ranked as high as number ten on coinmarketcap.com, which ranks over sixty crypto-currencies by their market capitalization. Somehow, it has managed this without the hype and popularity of bitcoin and other alternative cryptocurrencies such as scrypt based Litecoin and meme inspired Dogecoin.
iXcoin was released in April of 2011 in a manner similar to Bitcoin. The creator, used the pseudonym of Thomas Nasakioto (an anagram for Bitcoin’s anonymous creator Satoshi Nakomoto) and has kept a very low profile after the first six months or so. It is essentially a clone of Bitcoin, with the same technical characteristics.
What makes iXcoin different from Bitcoin is its merged mining capability. Early in 2012 iXcoin added merged mining to boost its mining support. Some complain that Bitcoin, although revolutionary as a currency, wastes energy because it must be “mined” continuously to produce new coins and to secure it from network attacks. Mining requires significant computing power, but merged mining, it can be argued, puts iXcoin in the green category because it shares mining power with Bitcoin and other merged mined coins. Such mining allows multiple crypto-currencies to be secured by sharing 99% of their computing resources with each other. Thus the “added” computing power required by iXcoin is quite low. Merged mining is green mining.
What sets iXcoin apart from other crypto-currencies? iXcoin is in a unique position. It has a fixed 21 million coin maximum for the number of coins which will ever be created. Many of the other leading coins do not have a fixed cap. A definite maximum gives investors the ability to better gauge long term value, and removes any fear that inflation from oversupply will eat away at the value of their coins. Such has been the dilemma for decades with traditional government backed currencies, and iXcoin will not repeat such mistakes. Furthermore, about 98% of competing coins have lower network hash rates and are therefore less secure. This leaves iXcoin in a unique position of being one of the oldest, most mined, most secure, and most efficient of the crypto-coins.
The popular crypto exchanges Vircurex, Cryptsy and CEX.IO support the trading of iXcoin, and have seen increasing trading volume of late. The recent interest may be attributed in part to a resurgent development team and a new website and forum which came online in December 2013. There is also a new version of the iXcoin client program being tested to bring it up to the latest Bitcoin version. Also important is Bitcoin’s meteoric rise which has helped popularize digital currencies, of which iXcoin is a leading member. iXcoin is currently trading at 11 cents per coin compared to $820 for Bitcoin.
iXcoin’s network mining power, measured in “hash rate”, has been steadily climbing over the last year along with Bitcoin’s. It has been staying around 25-30% of Bitcoin’s, but has gone over 50% at times, meaning over 50% of all Bitcoin miners are at times also mining iXcoin. That’s a tremendous amount of support for iXcoin and produces a coin which is very secure from network attacks. In fact, it has consistently ranked among the top three to four crypto-coins in the world for years now, as measured by network mining power. iXcoin network hash rate is currently 4.5 Peta Hashes/sec, compared to 8.3 Peta Hashes/sec for Bitcoin. From September to mid-December 2013, iXcoin has increased its hash rate by 2,500%.
Proponents rightly point out that the digital currency revolution has the potential to change to world in ways as profound as the internet and the information revolution. iXcoin is well positioned to continue as a leading crypto-currency while the digital currency revolution unfolds. It has been a truly amazing story and has the potential to change the world in ways we can’t yet imagine."
Visit
http://www.ixcoin.co for more information.
Contact Info
David Vlad
14150 SW Bull Mountain Rd
Tigard, OR 97224
Phone: 503-999-9810
iXcoin specs:
Launched (first block mined): April 29, 2011
21 million maximum coin cap
10 minute block times
2016 block difficulty reset period
96 coin block reward
