Thursday, February 27, 2014

[grmyeunc] Ranking cryptocurrencies

Cryptocurrencies such as Bitcoin and Litecoin may be fairly easily objectively compared with each other by the amount of computation being currently expended on confirming its block chain.  We care about actual wall-clock time on the type of hardware that each cryptocurrency prefers.  Or perhaps electricity usage?

For Scrypt-based cryptocurrencies (e.g., Litecoin, Dogecoin), I would like to see a comparison of the Scrypt parameters: how much memory required per thread.

I would also like to see a comparison of how many units were mined (presumably by the creators) before each cryptocurrency was made public.  Bitcoin rates poorly in this regard.  ( Previously, a way to avoid this problem.)

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