What is Feathercoin (FTC)?
Future of FTC Cryptocurrency and know how to buy FTC

#1: What is FTC?

FTC: The Basics

Feathercoin is a robust, open source, decentralised and secure cryptocurrency, which at first might seem very similar to other cryptocurrencies such as Bitcoin or Litecoin, but has a lot of advanced technological improvements powering its blockchain network, which make it stand out among other altcoins.

FTC Development

  1. Feathercoin was launched on 16th April 2013 and as developed by Peter Bushnell. It was forked from Litecoin, with the aim of making Feathercoin what Litecoin was supposed to be: a faster, more secure, and stable version of Bitcoin.
  2. The consensus mechanism is based on the Proof of Work (PoW) concept.
  3. The Feathercoin network runs on the NeoScrypt hashing algorithm, making it much easier and faster to mine.
  4. Feathercoin enjoyed rapid adoption by users soon after its launch, gaining immense popularity, and establishing itself as a worthy contender in a BTC/LTC dominated market.

 

#2: What are the benefits of Feathercoin?

FTC Technology

  1. Feathercoin was initially developed to continue and enhance Litecoin’s attempts to be a faster and leaner version of Bitcoin, thus it has employed a ton of technological advancements to its blockchain in order to ensure a secure and robust network.
  2. FTC uses a Scrypt-based hashing algorithm, NeoScrypt to be exact, which is much more memory and processor intensive than the SHA-256 hashing algorithm used by Bitcoin. This means that while the Bitcoin market is saturated with high end machines specifically designed for mining BTC/cryptocurrencies, called Application Specific Integrated Circuit (ASIC) cards, the FTC chain is resistant to such mass mining, due to the very nature of the NeoScrypt algorithm.
  3. There is a 40 Coin reward per block. The block reward halves every 2,100,000 blocks, with the block target being only 1 minute. The maximum number of coins possible is capped at 336 million.
  4. Faster difficulty retargets means that the network is much faster is adjusting to changes in the total hashing power of the network.

Key Features

  1. Stealth Addresses - The FTC wallet support Stealth Addresses, which means that completely anonymous transactions can be made, unlike the public blockchain of BTC.
  2. NeoScrypt Algorithm - The NeoScrypt Algorithm used for FTC is much more memory processor intensive. This is unlike Bitcoin’s SHA-256 algorithm, for which powerful computing machines can be developed, called Application Specific Integrated Circuit cards. It also facilitates easier difficulties, faster block times, and leaner, and more efficient blockchain mining.
  3. Current Gen ASIC resistance - Due to the technological upgrades of FTC over BTC, the hashing algorithm of Feathercoin means that FTC coins cannot be mined using powerful computing systems called ASICs. This means that even the average user still has a chance to mine FTC blocks, whereas, in the BTC network, the market is completely dominated by mining farms using vast arrays of expensive ASIC cards.
  4. Enhanced Hash Rate Compensation (eHRC) - eHRC is an algorithm for adjusting the difficulty of the network dynamically. This protects long-term FTC miners from massive fluctuations in the blockchain difficulty and the network hashrate, which can be caused by, mining farms, or coin-switching multi-pools, manipulating the hashrate of the network for quick profits. This adds stability to the network and encourages long-term mining of Feathercoin.
  5. Advanced Checkpointing (ACP) - This is a solution to the well known vulnerability of the Bitcoin network. Originally developed by Peercoin, the ACP system protects the network from a 51% attack, where someone who is in control of 51% of the total hashing power of the network can essentially double-spend coins. The ACP system avoids this and ensures that the history of the blockchain is preserved.

 

#3: How to Buy & store Feathercoin?

How to buy Feathercoin

Feather coin is available at a multitude of exchanges, with Upbit, Bittrex, and Cryptopia being the largest exchanges by volume. Some other exchanges include Litebit, Coinexchange, and Coinhouse.

Feathercoin can also be bought using fiat currency at Bittylicious.

FTC Mining

Feathercoin can be mined using either processors (CPUs) or graphics cards (GPUs). Due to the hashing algorithm of FTC, it cannot be mined with an ASIC card. Mining software is available for download at their official site.

Wallets for FTC can be found over at their official website, including both desktop and mobile wallets. Detailed information about the Feathercoin wallet can be found on Github. [2]

CoinSwitch

While cryptocurrency exchanges provide you with a platform to buy or sell the FTC cryptocurrency, CoinSwitch, the largest cryptocurrency exchange platform, comes in to help you make the right decision by providing the prices for FTC on multiple crypto exchanges. With support for more than 140 coins and 45,000 pairs of cryptocurrencies, you can choose whichever pair you want with your token and compare the prices at multiple exchanges. This way, you can choose the best deal for you!

What’s more - with CoinSwitch, you do not rely on a separate FTC wallet from the exchange to store your FTC cryptocurrency. Instead, all transactions happen to and from your own personal private wallets.

 

#4: What is the future of Feathercoin?

Also Read: Complete Analysis of Feathercoin | Live Feathercoin (FTC) Price Charts And Predictions

Price History

Date

Open

High

Low

Close

Volume

Market Cap

Jun 01, 2018

0.127766

0.133256

0.127041

0.128308

30511

25849200

Feb 01, 2018

0.225166

0.263741

0.184913

0.209362

390795

42831400

Oct 01, 2017

0.047442

0.051999

0.044435

0.04648

89626

8395680

Jun 01, 2017

0.034498

0.040594

0.033149

0.038974

154310

5645810

Feb 01, 2017

0.006073

0.006165

0.005854

0.005959

4390

913860

Sep 01, 2016

0.01212

0.012282

0.011952

0.011998

3940

1619750

Mar 01, 2016

0.005961

0.006006

0.005602

0.005607

1591

675787

Aug 01, 2015

0.010782

0.010856

0.009934

0.009934

4598

784512

Dec 01, 2014

0.02563

0.025726

0.022794

0.023135

7482

1601510

Jun 01, 2013

0.086306

0.088996

0.084617

0.085338

-

573767

  1. With a rapid growth pattern during the initial stages of its launch, Feathercoin remained fairly stable for a while, resisting market fluctuations well.
  2. Recently, there seems to be another growth spurt, with more miners looking for altcoins that are easier to mine and not biased towards mining pools and ASIC miners.
  3. The coin has gone from $0.08 back in June 2013, to $0.127 in June 2018, a return of just over 50% over 5 years. Pretty poor by cryptocurrency standards!

 

#5: How is Feathercoin different from other cryptos?

  1. While initially based off of the same blockchain technology, the improvements and enhancements made to FTC’s code, make it a better choice for miners.
  2. The NeoScrypt algorithm is ASIC-resistant, which means CPU and GPU miners still have a shot at mining coins, and the market is not dominated by mining farms using massive and expensive ASIC setups, unlike Bitcoin, where it is pretty much impossible for CPU or GPU only miners to make a dent in the market now.
  3. The ACP or advanced checkpointing system installed in the network protects the FTC blockchain from 51% attacks, which is a known vulnerability with the Bitcoin network.
  4. According to the creator, John Bushnell, the Bitcoin community and ecosystem is too large for its own good, with most changes to either the main client or technology being resisted by the community due to the fragile stability of the cryptocurrency, but Feathercoin, he says, “by comparison is dynamic and agile. It is hard for people to get involved in Bitcoin in the same way that they could be involved in Feathercoin, we are still young and look to remain open to new people and ideas. Feathercoin has proved that it is able to evolve when faced with problems and looks to become more resilient than Bitcoin.

 

#6: Should you invest in Feathercoin?

  1. While investing in any cryptocurrency is subject to their inherent volatile nature, you may want to skip Feathercoin altogether given its poor performance across the past half decade.
  2. It does have significant technological improvements, along with an active developer community and a robust, lightweight, and secure blockchain network. But this does not seem to have been enough for the crypto market.
  3. Clearly, investors see all these, and perhaps more, qualities in other cryptocurrencies and that’s where all bets have been placed so far.
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