April 26, 2019, 02:07:50 am

Author Topic: Are alternatives the same?  (Read 1249 times)

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Offline 4freedom

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Are alternatives the same?
« on: February 16, 2014, 06:49:46 pm »
Aside from the economic perspective I was wondering if all electronic coins have the same p2p mechanics as the bit-coin but with a different name.

Offline MicroGuy

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Re: Are alternatives the same?
« Reply #1 on: February 16, 2014, 07:26:46 pm »
Yes. For the most part these decentralized currencies work the same in that there is a finite supply, you mine coins by solving math problems, and the master ledger (aka blockchain) is stored on each user's machine.

There are exceptions, but those basics are mostly the same.
"The heart of any cryptocurrency can be found in the spirit of its community."