Digitalcoin (DGC) is an open-sourced decentralized digital currency encrypted by Scrypt hashing algorithm and a Litecoin fork with improved technical features. It is mineable with Scrypt, SHA-256, and x11 algorithms.
Transaction protection and network operability are ensured through constant work of network members’ computing equipment: miners who get a certain amount of generated coins as a reward for each found block (a set of transactions). Average time of finding a new block is almost four times lower than that of Litecoin which allows for almost instantaneous transaction processing and at the same time ensures that production of secondary chains is minimized. All coins are and were from the start available for mining as there was no premine. Long intervals between reward decrease are expected to cause a stable interest in the coin and constant mining of new coins. Advanced technical properties, principles of openness, continued support of the developers and community determined a firm launch and popularity of the coin.
Digitalcoin was announced on May 18th 2013 on the Bitcointalk.org forum by its developer known by his nickname Baritus (presumably Andrew Davidson) also known as the developer of Securecoin (SRC) and Argentum (ARG) cryptocurrencies (in the case of ARG he provided development support, not the idea authorship). The coin was launched two days later on May 20th 2013 and has demonstrated a good start. It was similar in characteristics to the Wordcoin (WDC) that was launched a week earlier and also proved fairly successful but the DGC can hardly be called its imitation.
May-June 2013 were accounted for a peak of new forks appearance which followed the April’s sharp rise of Bitcoin price. The topic on Bitcointalk gathered 55 pages of replies in just two days. The coin has already entered the Cryptsy exchange trading on 23rd May. In the following two weeks DGC has appeared on other exchanges. For some time the price, just as with almost any other recently launched fork, was fluctuating but has overall remained at a fairly high rate. Worth mentioning is a significant rise on 10th-12th July when it reached 0.7 mBTC. A prolonged decline started after that period which is characteristic to most forks. Under the conditions of declining public interest in Bitcoin after the April’s events it was hardly able to hold at a stable price.
On the August 30th the price fell below the point of 0.2 mBTC despite the fact that it was below that point for only 4 days since launch. In September and October the price kept decreasing slowly until it reached the minimal point of 0.031 mBTC on November 13th.
A significant push to the price was given by Bitcoin when its price has risen from $150 to $1000 in the end of November. Other forks have grown following Bitcoin showing double profitability: an increase of price compared to USD was achieved not only through the BTC price increase but also in relation to it. Historical maximum was reached by DGC on December 14th when a single coin was exchanged for 0.9 mBTC. After that the DGC price was falling up until current moment (end of April) but overal the spead of decrease is falling.
During the coin’s existence a large number of services, markets and exchanges were opened. The long-awaited launch of CryptoAve.com exchange with trading in BTC to USD by the developers has been an important event.
Digitalcoin price (DGC)
There is an online price of Digitalcoin (DGC coin) on BitcoinWiki:
The Digitalcoin cryptocurrency is traded on Cryptopia, CoinExchange, Bluetrade, Novaexchange and other crypto exchanges.
The relevant Digitalcoin mining pools can be found at the official website in the «Miners» folder and on official forums.
One of the main problems to the DGC coin were multipools that automatically switch to the most profitable coin. One-time additions of significant computing power led to the difficulty multiplier rising from 2 to 5 times during next difficulty adjustments which caused prolonged periods of low power mining. Naturally such mining wasn’t profitable for regular miners, even besides that the multipools weren’t gaining maximum profit either because of large number of orphan blocks. To somehow fix the issue and increase the price the developers resorted to radical measures: on October 19th an update was released that changed the coin’s generation parameters.
New block generation time was increased twofold from 20 seconds to 40, the block reward was in turn decreased from 20 to 15 DGC. These steps have raised mining difficulty and were supposed to contribute to increase in price. The intervals between difficulty adjustments were also lowered 10 times from 1080 to 108 blocks (72 minutes) and a maximum difficulty change was limited to 36% (in both directions). The maximum supply is approximately 48,166,000. On March 23rd 2014 a new update was announced that would bring difficulty recalculation interval down to 8 blocks. Consequently the difficulty is now recalculated approximately every five minutes. This provides additional protection from multipools.
|May 20th 2013
|Total number of coins:
|Every 108 blocks
|every 3 years