Ok, I am pretty 'new' to the whole cryptocurrency train, I came across this CounterParty Currency that looked like it was trending well as I am curious what else there is to Mine out there.
But after doing some reading I found out that is it not mined, it is created by 'burning' bitcoins, you can read more about that here. https://counterparty.io/docs/faq-xcp/
Anyways I am not here to promote but more so to be educated. I am not sure if there are any other currencies that use this same logic and cannot be mined as this is the first I have come across.
I think the concept is quiet interesting, There seems to be a new currency coming up with there own pitch and concept but most of them using the mining route for creation. And as we can see how quickly this market is booming and the rumours of mega farms in China - Do you think more and more 'new' currencies may take this route making mining less effective?
But after doing some reading I found out that is it not mined, it is created by 'burning' bitcoins, you can read more about that here. https://counterparty.io/docs/faq-xcp/
Anyways I am not here to promote but more so to be educated. I am not sure if there are any other currencies that use this same logic and cannot be mined as this is the first I have come across.
I think the concept is quiet interesting, There seems to be a new currency coming up with there own pitch and concept but most of them using the mining route for creation. And as we can see how quickly this market is booming and the rumours of mega farms in China - Do you think more and more 'new' currencies may take this route making mining less effective?