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Crypto-currencies Accepted

Daniel Daniel Follow Sep 24, 2019 · 9 mins read
Crypto-currencies Accepted
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Bitcoin (BTC) - 2009 - PoW

Bitcoin is a decentralized digital currency that enables instant payments to anyone, anywhere in the world. Bitcoin uses peer-to-peer technology to operate with no central authority: transaction management and money issuance are carried out collectively by the network.

The original Bitcoin software by Satoshi Nakamoto was released under the MIT license. Most client software, derived or “from scratch”, also use open source licensing.

Bitcoin is the first successful implementation of a distributed crypto-currency, described in part in 1998 by Wei Dai on the cypherpunks mailing list. Building upon the notion that money is any object, or any sort of record, accepted as payment for goods and services and repayment of debts in a given country or socio-economic context, Bitcoin is designed around the idea of using cryptography to control the creation and transfer of money, rather than relying on central authorities.

Bitcoin Wiki

Litecoin (LTC) - 2011 - PoW

“Bitcoin-lite”

Litecoin is a peer-to-peer Internet currency that enables instant, near-zero cost payments to anyone in the world. Litecoin is an open source, global payment network that is fully decentralized without any central authorities. Mathematics secures the network and empowers individuals to control their own finances. Litecoin features faster transaction confirmation times and improved storage efficiency than the leading math-based currency. With substantial industry support, trade volume and liquidity, Litecoin is a proven medium of commerce complementary to Bitcoin.

Litecoin Website

Peercoin (PPC) - 2012 - PoW & PoS

Peercoin was launched in 2012, making it one of the first blockchains to be released. It introduced a number of new innovations which substantially improved on the design of other blockchain protocols that existed at the time, principally Bitcoin’s proof-of-work. Peercoin’s alternative to proof-of-work, proof-of-stake, remains unrivaled to this day as a blockchain consensus protocol and one which is achieving more mainstream adoption with each passing year.

For the newcomer, understanding why Peercoin’s blockchain technology is superior first requires some understanding about blockchains in general, as well as understanding Peercoin’s primary competitor, Bitcoin; therefore we will start by learning what blockchains are, and what they offer. Once we understand this, we’ll cover the main problems behind the world’s first blockchain, Bitcoin, and how Peercoin has fixed these flaws.

You will discover that Sunny King, Peercoin’s original creator, had incredible foresight into the future of proof-of-work networks, and how Peercoin has been designed as a drop-in replacement in preparation for their inevitable decline.

Peercoin Website

Gridcoin (GRC) - 2013 - Scientific Work & PoS

Gridcoin is an open-source blockchain that mints and distributes cryptocurrency in relation to the processing power a network participant directs toward data-driven analysis and scientific discovery. Currently, the Gridcoin blockchain is secured through a proof-of-stake protocol and monitors processing contributions to the distributed computing infrastructure, BOINC.1 BOINC, the Berkeley Open Infrastructure for Network Computing, hosts major institutional computing projects such as IBM’s World Community Grid,2 SETI,3 and data from the Large Hadron Collider,4 alongside projects developed by students, enthusiasts, mathematicians, researchers, and citizen scientists.

Gridcoin Website

Currently using Proof of Stake 2.0 (PoSV2) as introduced by the Blackcoin development team.

AltCoinWiki

Blackcoin (BLK) - 2014 - PoS

Blackcoin is a decentralised digital currency with near-instant transaction speeds and negligible transaction fees built upon Proof of Stake 3.0 (PoSV3, BPoS) as introduced by the Blackcoin development team.

Blackcoin Website

Dash (DASH) - 2014 - PoW and Masternodes

Dash is an open source peer-to-peer cryptocurrency with a strong focus on the payments industry. Dash offers a form of money that is portable, inexpensive, divisible and fast. It can be spent securely both online and in person with only minimal transaction fees. Based on the Bitcoin project, Dash aims to be the most user-friendly and scalable payments system in the world. In addition to Bitcoin’s feature set, Dash currently also offers instant transactions (InstantSend), private transactions (PrivateSend) and operates a self-governing and self-funding model that enables the Dash network to pay individuals and businesses for work that adds value to the network. This decentralized governance and budgeting system makes it one of the first ever successful decentralized autonomous organizations (DAO).

Dash Website

Monero (XMR) - PoW - 2015

Monero was launched in April 2014. It was a fair, pre-announced launch of the CryptoNote reference code. There was no premine or instamine, and no portion of the block reward goes to development. See the original Bitcointalk thread here. The founder, thankful_for_today, proposed some controversial changes that the community disagreed with. A fallout ensued, and the Monero Core Team forked the project with the community following this new Core Team. This Core Team has provided oversight since.

Monero has made several large improvements since launch. The blockchain was migrated to a different database structure to provide greater efficiency and flexibility, minimum ring signature sizes were set so that all transactions were private by mandate, and RingCT was implemented to hide the transaction amounts. Nearly all improvements have provided improvements to security or privacy, or they have facilitated use. Monero continues to develop with goals of privacy and security first, ease of use and efficiency second.

Monero Website

Ethereum (ETH) - PoW & PoS - 2015

Ethereum is programmable, which means that developers can use it to build new kinds of applications.

These decentralized applications (or “dapps”) gain the benefits of cryptocurrency and blockchain technology. They can be trustworthy, meaning that once they are “uploaded” to Ethereum, they will always run as programmed. They can control digital assets in order to create new kinds of financial applications. They can be decentralized, meaning that no single entity or person controls them.

Ethereum Website

Zcash (ZEC) - Pow - 2016

Use Zcash as a fast and reliable, inexpensive means to send money or digitally purchase goods and services. It is supported by top exchanges and wallets. Audit- and regulation-friendly

Private addresses and transactions can be disclosed by Zcash users for information sharing, third-party audits or to comply with regulatory requirements. Decentralized and attack-resistant

Zcash is decentralized and maintained by a wide network of people and machines, instead of a centralized entity, like a bank or government. There is no central database to be hacked and no single point of failure. There is no authority that can shut it down or prevent its use. Private addresses & transactions

Privacy is built into the core of Zcash, allowing people to send and receive Zcash without disclosing the sender, receiver or the amount transacted. Privacy allows good people to transact safely over digital mediums. Transparent addresses and transactions are also available.

Website

EOS.IO (EOS) - DPoS - 2017

Some of the groundbreaking features of EOSIO include:

Free Rate Limited Transactions

Low Latency Block confirmation (0.5 seconds)

Low-overhead Byzantine Fault Tolerant Finality

Designed for optional high-overhead, low-latency BFT finality

Smart contract platform powered by WebAssembly

Designed for Sparse Header Light Client Validation

Scheduled Recurring Transactions

Time Delay Security

Hierarchical Role Based Permissions

Support for Biometric Hardware Secured Keys (e.g. Apple Secure Enclave)

Designed for Parallel Execution of Context Free Validation Logic

Designed for Inter Blockchain Communication

EOS.IO Website

MimbleWimble BEAM (BEAM) - PoW - 2019

Bitcoin was a great blessing, showing people a way to a truly decentralized and deflationary currency and blazing the path towards a future where our money and finances are neither controlled nor scrutinized by anyone. Hundreds of new coins appeared, some of them minor variations of Bitcoin, some offering new possibilities.

However, the fact that transactions on Bitcoin and many of its derivatives are not confidential (all transaction history is stored in a public ledger accessible to anyone), makes cryptocurrency use in real life quite problematic. Can anyone think of a business that would want all its income and expenses to be seen by its competitors?

Privacy coins (like Monero, Zcash and their derivatives) have great merits and technology while providing good confidentiality, but do not fully deliver on scalability and decentralization. Another important quality is auditability - with Monero or Zcash it is impossible to demonstrate a provable transaction graph to an external auditor, which is often needed for businesses. The ideas behind Mimblewimble protocol allow for creation of a coin that is confidential, scalable and optionally auditable. We believe that the Beam coin will serve as a truly usable confidential store of value, with an addition of second-layer solutions like Lightning to allow for day-to-day usage.

We believe that rapid innovation is best achieved in a startup model, where people are 100% focused on the project and are working on it literally 24/7. Also, we feel that some of the technical decisions made by the Grin team are less practical and use more “cutting-edge” technology. Since we are literally building money, we chose a more conservative approach and decided to use more proven technologies instead - that’s why we chose C++ and not Rust, Equihash and not Cuckoo Cycle, etc. That said, we have immense respect for the Grin team and wish them success. We are all working towards the same goal - bringing financial privacy back to people and making cryptocurrency more usable in real-world applications.

BEAM Website

And More!

Get discounts for using the above, but these are also accepted.

All Major Credit Cards - Also Accepted

Daniel
Written by Daniel Follow
Hi, I am Daniel, the founder of Immodestea. I hope you like it!
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