Infinitecoin

infinitecoin_crypto

Created in June 2013, this cryptocurrency catches the attention of consumers with the tagline “Get real money with infinite possibilities.” The real money part is certainly true, but the “infinite possibilities” may not stand up to scrutiny. There are hundreds of new cryptocurrencies every year, so why is this one having so much success recently?

Infinitecoin is a decentralized entity, meaning that it is not concentrated on a few computers or servers, but is distributed evenly among its users. This both increases security and ensures that no one user can disrupt the block chain because every other user is checking them periodically. Security is essential in a successful coin, a fact that does not change with Infinitecoin. The makers of this coin have ensured that every user will get their fair share and nothing more.

Mining coins can be a struggle if there is a low volume of coins in circulation. Infinitecoin bypasses this issue by simply circulating a huge amount of coins, around 90.6 billion. Each coin is worth 0.000036 US dollars, a seemingly small amount, but adjusting for the huge number of coins it comes out to around 3.2 million dollars in total monetary value of all coins. To keep up with the value and availability of Infinitecoin, you can check here.

Infinitecoin was created as an alternative to Bitcoin and other popular cryptocurrencies, because the creators of Infinitecoin believe that the mining out of currencies with low coin numbers will cause a dangerous upswing in their value, moving them out of the reach of the average consumer. Those who share this fear have put stock in Infinitecoin and other high-coin currencies, because the future of those coins is more secure and more stable than that of Bitcoin and others. While altcoins may be slow to gain popularity and users, they present a good, safe supplement to the online market, an important factor in the years to come.

Infinitecoin uses Scrypt as its proof-of-work authentication system. Scrypt is a very secure function that uses a time-memory trade off to ensure that an illicit activities would take a very long time to complete. For a legitimate user, the transaction would take a little under a second, so the security does not interrupt the activities of a regular consumer. More information on Scrypt and other cryptocurrency security options can be found here.

To mine Infinitecoin, one needs to simply download the specific client designed for one’s system’s specification. Then run the program and select the mining option. The computer will begin mining immediately. Setting up an Infinitecoin wallet is an essential part of this mining process, as it is used to store the coins. Create a wallet on an offline computer with a good passphrase, so that its passwords cannot be taken through the internet. Then be sure to back up the wallet to some sort of secure device or external storage apparatus. This is important because losing money is a distinct possibility without a good security setup.

Choosing a pool to mine in should be a thoughtful decision, as different pools offer different levels of security, payouts, and deductions. Pools of Infinitecoin have deduction percentages from zero to two percent, and use either proportional or PPLNS payout systems. Doing research before joining is advised, because different users and different computers may be suited for different kinds of pools.

All in all, this currency is joining the market in a time of growth, which is good for it and for its users. Its success, however, is based entirely around the joint effort of the cryptocoin community and its creators. Only with cooperation and community can Infinitecoin and the wider cryptocurrency world succeed.

Links:

Mining Guide

Wallet Info

Infinitecoin subreddit

Coin infographics

Justin Poiroux

Computer Engineer at Auburn University with passions in technology such as CryptoCurrencies, 3D Printing, Smartwatches, and Computers.

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