Digitalcoin (DGC)

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Description

Digitalcoin's backers like to set themselves apart from the other digital currencies out there by the speed and methodology used to confirm transactions using their currency. Transactions can be confirmed by miners (those who process the blocks of data in which transaction information is stored) as quickly as 20 seconds, with an average confirmation time of 40 seconds. Since it's argued by many in the industry that quick transaction confirmations can possibly lead to lower security, Digitalcoin allows its vendors to state how many confirmations they would like per transaction. The higher number of confirmations, the more secure the transaction—though it may take more time to finalize. Digital coin mining uses the Scrypt algorithm, which is recognized as being faster and easier to use by individual miners, since it uses less energy and resources than the SHA-256 algorithm. Both software wallets (for Windows, Mac and Linux) and mobile wallets (for Android) are available for investors to download on Digitalcoin's website.

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History

Digitalcoin was released in May 2013, during what some industry insiders call the “altcoin flood;” several new digital currencies were introduced at this time. As is the case with many alternative currencies, Digitalcoin's chief developer remains anonymous, and goes by the pseudonym “Baritus” on the digital currency forums.