The expectation of every investor is to make a profit. With the emergence of cryptocurrency, a plethora of options has emerged. From Bitcoin to Dogecoin to the newly introduced Earthcoin. There are more than 4,000 cryptocurrencies in existence, at this point, any coin that is not Bitcoin is considered an altcoin, altcoins make up approximately 40% of the cryptocurrency market. With all of the competition Earthcoin is trying to find its way to the forefront of the crypto world.
The Peoples Currency
Being called the peoples currency would make one think this is a coin for the people and it was designed to be just that. The transaction speeds of downloading this altcoin are second to none. Once you pay or get payed with Earthcoin the transaction is equal or faster than a debit card transaction.
The coin was designed with the people in mind, using this coin will allow users to purchase everyday items from local markets. Check out the specifics here. The reason this is so important is because the speed of the transactions gives users the ability to use Earthcoin in any store in the future.
Earthcoin made its debut in late 2013 when the developers went all-in to make this altcoin a success. The coin jumped out of the block quick and fast, it began trading at Cryptsy.com allowing the public to invest in it.
When you mine a cryptocurrency you obtain the coins without paying any money for it. Mining Earthcoin is no different than mining any other crypto, the specifics can be found here. Because Earthcoin is a descendant of Litecoin, it uses a script algorithm to mine the coins. The miner has the possibility of obtaining approximately 32,000 coins per calendar year.
There are incentives in place to allow miners to reap the rewards to help cover overhead costs incurred while mining. Earthcoin has incorporated the moon cycle and the full moon cycle. The full moon cycle or X2 payout, promotes a double release of coins to miners. The moon cycle or month also known as X5 payout releases coins at five times the normal payout.
Earthcoin only allows a certain amount of coins to be released so once miners reach the maximum amount of 13.5 billion coins miners will not be able to find anymore coins until the number is reset.
EarthCoin and LiteCoin
The similarities between Earthcoin and Litecoin are noticeable because they both use a scrypt as proof of work. The Earthcoin is based on the Litecoin software that has already been vetted and proven. It made sense for Earthcoin to be a successful altcoin since it used the Litecoin framework.
Litecoin (LTC) has a Market Cap of $16.2B and it is currently trading at $241.30 giving Earthcoin, its distant cousin, hope to have a successful future in cryptocurrency.
Unfortunately, cryptocurrency is not immune to theft. But, fortunately, wallets are digital solutions for securely storing and managing cryptocurrencies. By using a crypto wallet users are given the ability to receive, spend and even trade cryptocurrencies. Because cryptocurrency wallets are so important for protecting crypto assets there are multiple wallets at your fingertips. The balance ranked the wallets for 2021:
- Best Overall: Coinbase
- Best for Beginners: SoFi
- Best for Mobile: Mycelium
- Best for Desktop: Exodus
Is Earthcoin a Legitimate Alternative to Bitcoin
Bitcoin has been the biggest success of the cryptocurrency arena. The stability of bitcoin is far superior than the competition. Bitcoin is the elder of the group making it a more attractive investment even though, the smaller alt coins have a sizeably smaller investment cost. With the success of Bitcoin large companies such as Tesla, Paypal and Microsoft have started to accept the crypto as a form of payment. This of course makes it a more attractive investment.
Earthcoin has the ultimate desire to make it a commonly used form of currency as well. Replacing the dollar as the sole currency of the people is where all digital currency backers want to be.
Is Cryptocurrency a Bad Thing?
The naysayers of cryptocurrency have stood by the argument that criminals use crypto to do illegal dealings because the transactions cannot be tracked by the government. In defense of this, the government introduces regulations on cryptocurrency to make it difficult to do anything with it. The deniers believe that cryptocurrency is extremely volatile and unsafe for investors. Bitcoin has hit an all-time high of $60,000 proving investors are not interested in the naysayers but, they believe this is the way of the future.
US Dollar vs CryptoCurrency
The main competition to cryptocurrency has always been the possibility of the US Dollar becoming digital. If this happens the world of crypto might end abruptly. There have already been some cashless systems in place, according tofanfoodapp, there were five stadiums that tried this cashless way of life in 2019. With the way to world is evolving, this seems inevitable. The thought process of sports stadiums going cashless is shorter lines and faster transactions so fans can get back to their seats and enjoy the event. This does not open the door for cryptocurrency to take control but, it does make the US Dollar work harder to keeps its’ seat at the front of the table.
The price of Earthcoin sits right now at $0.00429873 and it is traded at Coingecko, using the ticket symbol EAC. Its market cap is ranked at #528, the source code can be found at Github. Earthcoin was released under the terms of the MIT license. There are multiple communities in place for Earthcoin such as Reddit, Twitter, Facebook, earthcoin.io etc.. There has been a slow and steady rise in the price of Earthcoin making it an attractive altcoin to invest in.