I’ll take a break from the usual altcoin bashing and do something a little less abrasive today – talk about a coin with favorable prospects. Digitalcoin (DGC) was one of those coins that was launched during the altcoin flood back in May. While coins of this era were typically defined by egregious premining/instamining and generally poor launches, DGC was about the only one that had a fair launch with no premine. DGC was pre-announced days in advance (a rarity, in it’s time), and it’s launchtime graphs are damn near picture perfect:
A steadily increasing supply along with a steadily increasing hashrate – these are the things indicative of a fair launch. It’s been about 5 months since then, and DGC is still chugging along nicely. The community behind it is among the largest, as evidenced by it’s 200 page long main thread. Many services already exist, among them, payment processing and web wallets.
The developer, Baritus, has remained surprisingly active as well, pushing out incremental updates and working on various projects to further the coin. The most ambitious of these being the Free Bank of Digitalcoin and CryptoAve, an exchange platform. Shares of CryptoAve will be traded exclusively in DGC, which will undoubtedly boost demand for the coin.
About 2.6 million DGC are produced each month (20 coins @ 20 second blocks), and at the current price of 0.00014, this puts ~360 BTC worth of downward pressure on the market. Yet, the price has remained surprisingly stable for a while now, so this indicates that a lot of money is flowing into DGC. It’s important to note that in the upcoming v1.0 update block reward is being slightly reduced and block time is being increased to 40 seconds, effectively halving coin generation. Assuming cash inflow remains the same, the price of DGC should trend upward as a result.
My one real gripe with this coin is that not a whole lot is changed from the litecoin base. Block time and the coin distribution timeline are among the biggest of changes. I’ve talked with Baritus about this, and his design philosophy is such that he doesn’t want to reinvent the wheel, just make a better version of it. So far, I think he’s done a good job at accomplishing that. His involvement with the community and the scope of the projects he’s working on give me little reason to doubt his competence.
Overall, the pros outweigh the cons, and DGC is a good coin. Unlike some other coins out there, no gimmicks are used to lure people in. It’s just a good solid base, with a strong backing behind it. With v1.0 coming soon, and CryptoAve nearing completion, this coin is less of a risky investment than most. It’s one of the few altcoins that meets all my requirements for a good coin: A fair launch, a solid developer, and a good community.
Have a coin that you’d like me to take a look at next? Let me know.