It’s been a while since I’ve done an article where I speak kindly of a coin, but this is one of the rare occurrences that I find something worthy of my praise. I’d like to introduce you all to HunterCoin. This is by far the most interesting and inventive altcoin I’ve seen in the past year, but it has remained largely unnoticed amongst the flood of litecoin clones and pump&dump coins. HunterCoin is a fork of Namecoin that uses namecoin’s protocol not to resolve domain names, but to host a decentralized game that is played on top of the blockchain. Instead of mining, people can earn coins by playing the game.
This is one of the rare coins that I don’t have a lot of negative things to say about. The concept is really cool and unique. A bit silly, perhaps, for a currency, but I have no doubts that this coin will be popular. Even the mining aspect of this coin is unique. It can be mined via SHA256 or scrypt, and has seperate difficulties for each. This means that both ASICS and traditional GPU mining rigs are on equal footing here. Very cool.
However, I do have a gripe with the particulars of how it was implemented. The difficulty adjustment is based off the previous 2000 blocks and because of this, adjusts painfully slow. This caused it to be instamined to a very large degree. With a block time of 60 seconds, there should be about 9000 blocks out there right now… But due to the slow difficulty adjustment, there’s currently 39000 blocks. I generally hate this sort of thing, but I’m willing to overlook it due to the overall uniqueness of this coin.
HunterCoin has an extremely low block reward of 10 coins per minute, and there’s under 500,000 of them out there right now. At the current price of .0017 BTC, this gives it a current market cap of about $550,000. Compared to garbage litecoin clones like KittehCoin and Mooncoin which have over $2,000,000 market caps, HunterCoin is very underpriced in comparison. This is largely because it’s not on coinmarketcap or cryptsy yet, so it has little exposure. When it gets listed, watch the price explode. I’ll be stocking up in the meantime. This coin is a no-brainer for me. Unique concept + low market cap is what I love in a potential investment.