What You Should Know About (Some) Altcoins

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Before you make an investment decision, it would be best to dig a little bit deeper into the interesting fact, feature, and shenanigans of some coins.

1. Ethereum has 72 million pre-mined coins.

The total supply of ETH started out at 72 million as 5.9 million (the stipulated 9.9 percent of the 60 million raised) was created for 83 early contributors and an equal amount was issued for the foundation. Vitalik got the biggest share of the contributors’ endowment at about 553,000 ether.

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2. Dogecoin has an infinite supply with 10k DOGE/block tail emission

after 100 billion Dogecoins are created, rewards will continue at 10k each block.

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3. Shiba Inu dev sent 50% of token supply to Vitalik Buterin

The Ethereum co-founder was sent 50% of the total SHIB token supply by the token’s creators, raising a stir within the crypto community.…Vitalik Buterin has burned 90% of Shiba Inu tokens in his possession, according to transaction data from Ethereum. The total sum amounts to approximately $6 billion. Buterin will donate the remaining 10% to another charity

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4. Not all NFT images are stored on-chain or even using IPFS.
Tips: look for snow (frozen) icon on opensea.

5. SOL network isn't always working (sometimes slow or even down), but at least they are honest about it.

The Solana Network is currently experiencing degraded performance due to an increase in high compute transactions, which is reducing network capacity to several thousand transactions per second. This is leading to some failed transactions for users.

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Solana Mainnet Beta encountered a large increase in transaction load which peaked at 400,000 TPS. These transactions flooded the transaction processing queue, and lack of prioritization of network-critical messaging caused the network to start forking.

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6. TRON whitepaper has been accused of plagiarism

If we take a closer look at the examples presented, it certainly looks like there’s some foul play involved here.  Even if the text is not rewritten word for word (and in some places, it is), it is too often carelessly copied in some form or other from FileCoin and IPFS’s own whitepapers.  Moreover, the whitepaper copies key ideas without citations, including IPFS’s BitSwap concept.

To make things worse, the TRON team didn’t just nab ideas or verbal explanations of tech; they also stole code from their competitor’s papers.

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The list is incomplete, feel free to suggest one :p

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7. Monero is a Bytecoin fork

Monero was created as a grassroots movement with no pre-mine and no VC Funding, and launched in April 2014 as a fork of Bytecoin.

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8. Riccardo 'Fluffypony' Spagni was arrested for fraud case

The former Monero maintainer was arrested in Nashville, Tenn. on July 20, at the request of South African authorities and charged for crimes unrelated to the crypto industry.

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9. XRP is an unregistered security

According to the SEC's complaint, Ripple; Christian Larsen, the company's co-founder, executive chairman of its board, and former CEO; and Bradley Garlinghouse, the company's current CEO, raised capital to finance the company's business. The complaint alleges that Ripple raised funds, beginning in 2013, through the sale of digital assets known as XRP in an unregistered securities offering to investors in the U.S. and worldwide.

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10. Binance has issues with multiple regulators

In public, Binance said it welcomed government oversight. At the same time, the firm was withholding information from regulators, maintaining weak checks on customers and acting against its own compliance department’s recommendations, a Reuters investigation has found.

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