Darkcoin

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This article was considered for deletion at Wikipedia on June 5 2014. This is a backup of Wikipedia:Darkcoin. All of its AfDs can be found at Wikipedia:Special:PrefixIndex/Wikipedia:Articles_for_deletion/Darkcoin, the first at Wikipedia:Wikipedia:Articles_for_deletion/Darkcoin. Purge

Template:Infobox currency

Darkcoin is a privacy-centric peer-to-peer crypto-currency, with anonymous block transactions powered by a system called DarkSend.[1]

By late May 2014 it had overtaken Peercoin and Dogecoin to become the third largest crypto-currency by market capitalization, behind Bitcoin and Litecoin. Darkcoin jumped 82 per cent in just 24 hours to achieve a market capitalization close to $60 million.[2]

Darkcoin uses a new chained hashing algorithm approach, with many new scientific hashing algorithms for the proof-of-work. Instead of using the Secure Hash Algorithm (SHA) 256 it uses 11 rounds of different hashing functions.[3]

With chained hashing, high end CPUs give an average return similar to that of GPUs. Another side effect of the algorithm is that GPUs run at about 30% less wattage than scrypt and 30% to 50% cooler, putting less stress on the computing setup and ensuring lower energy bills for miners.[4]

References

  1. Greenberg, Andy. Bitcoin's nefarious cousin Darkcoin is booming Wired, San Francisco. 22 May 2014
  2. Bentley, Guy. Darkcoin races past Peercoin with 82pc surge, City AM, London. 30 May 2014
  3. Bentley, Guy. Darkcoin: The cryptocurrency putting privacy first, City AM, London. 12 May 2014
  4. Duffield, Evan. Darkcoin Whitepaper, Phoenix, Arizona. 18 March 2014