IXcoin

iXcoin (sign: I; code: IXC) is a Virtual currency. It is essentially a clone of Bitcoin, with the same 10 minute block times and 21 million coin maximum.
History
iXcoin was released in May 2011 in a manner similar to Bitcoin. The creator used the pseudonym of Thomas Nasakioto and has kept a very low profile after the first six months or so. It is essentially a clone of Bitcoin, with the same 10 minute block times and 21 million coin maximum.
Uses
Network
Mining
iXcoin production and transfer is handled by a Peer-to-peer network similar to that of Bitcoin. A proof-of-work system is used, where nodes search for a small enough hash (SHA-256 - one function of the set of SHA-2 hashing functions) value in a process called mining. When a small enough value is found, the node which found the hash is credited with a set number of iXcoin ( 96 IXC), and the hash, along with any transactions, is added to a decentralized ledger called the blockchain. After several subsequent hashes have been added onto the blockchain, transactions are considered to be irreversible, as an attacker would have to find a new set of hashes to replace all the preceding ones (this would require an infeasible amount of computing power).
iXcoin is merge mined with Bitcoin, which means that a node can mine for both iXcoin and Bitcoin simultaneously at the same rate that they would mine just one.
Addresses
Payments in iXcoin are made to addresses (based on digital signatures) or vouchers (like in the case of CEX.io services). Addresses are human readable strings of 33 numbers beginning with the letters x (in the case of Bitcoin, they start with 1, but this was changed to avoid confusion).
Major Markets
iXcoin can be traded for other currencies through various online exchanges. One such exchange is Vircurex.com
Criticism

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See Also

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