One of the oldest alternatives to the creation of Satoshi Nakamoto – Devcoin has finally entered a new stage of its existence as a cryptocurrency, after it was pronounced that the largest trading platform for cryptos is now exchanging DVC directly into BTC.
The story of the above mentioned Coin takes its start in summer of 2011, when the Devcoin project began.
It was the period “before cryptocurrencies were cool”, when nothing was heard about the arising substitute for fiat and BTC was not yet the attention sucker of every news portal. Now, when more cryptos arrive every week, seeing a digital coin as senile as this, still working its way up the charts and true to the original design is really heart-warming.
Speaking of the idea, on which Devcoin is based. The DVC is all about proving the starving artist concept wrong. The open source nature of the original Bitcoin, brought together crypto enthusiasts, who made the new Coin all about supporting its developers. Whether one can generate BTC by mining, using energy hungry rigs, Devcoin followers have numerous options of obtaining it, without the necessity to buy it.
The complex algorithm that produces new packages of DVC is designed so that nine out of ten coins would go to people who benefitted to Devcoin associated projects. The good example of such a project is Devtome, which is generally speaking a Wikipedia for Devcoin. Those who contribute to this knowledge collection are being paid their fair share of digital coins.
Nevertheless, the actual number of different things one could buy for Devcoin is not the cryptocurrency’s strong side. The official Devcoin page in the “Spend DVC” section contains literally fifteen places where one can exchange their coins for something useful. And, well, prove me wrong, but I highly doubt that for the person, who spent sleepless nights optimizing code for the new DVC web wallet some of these sites would be of any use.
However, one of the oldest coins has an interesting feature - it is merged mined with Bitcoin. To do that, the digger needs to join the specialized mining pools that allow this option, such as Bitparking.
As for the price of the digital currency, it stays on the level that Bitcoin abandoned three and a half years ago. At the moment of this article being written, the price of one US dollar in Bitcoin is something like 2.5 thousand Devcoin, which amounts to 1.7 million DVC per Bitcoin.
While I am not a big fan of altcoins due to their tendency to popup like rodents from Whack-A-Mole, the age alone is a good enough reason for me to respect this crypto. Can only wish for more projects such as this. Projects that allow people who want to make our world a better place to be rewarded accordingly.