DescriptionOn its surface, RonPaulCoin looks very much like a “Bitcoin clone;” it uses the more popular currency's basic coding, though it also implements the easier-to-use Scrypt mining protocol, like currencies such as Litecoin. What sets this currency apart is that it's the first to capitalize on the reputation and recognition of a well-known person. As the currency's website says, it is “in tribute to Ron Paul, the leading champion of financial freedom and economic transparency for the past 30+ years.” It should be noted the famous Libertarian politician is not involved in any way with the currency, nor does he directly endorse it. Paul told Mining.com that he supports the concept, but he himself is not investing in digital currency at this time. Be that as it may, the founders of RonPaulCoin set themselves apart from other cryptocurrencies with their low mining cap of 2.1 million coins—about one-tenth that of Bitcoin—evoking the concept that scarcity will equal higher value over time for their currency.
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