Information Technology Reference
In-Depth Information
table 10.1
Some of today's Virtual Currencies
Name
Characteristics
Altcoins
This is a generic name for alternative virtual
currencies, most of which use the same software
but change a number of economic parameters for
it to be generated.
Litecoin
Litecoin has the biggest market capitalization next
to bitcoin. It is created every 2.5 minutes, on
average, compared with every 10 minutes for
bitcoins. It is cheaper in value and easier to
generate.
Peercoin
Peercoin is mined, distributed, and validated
differently from bitcoins.
Freicoin
Freicoin encourages users to continuously spend
this type of money. The fixed supply of bitcoin
encourages hoarding, which freicoin does not by
keeping it circulating.
Ripple
Ripple has a distinct protocol that allows it to bill
itself as a payment system as well as a currency
and distributed currency exchange.
Linden Dollar
The Linden dollar was first used in 2003 for the
three-dimensional virtual world called Second Life
for buying goods and services.
PED or Project Entropia
Dollar
This virtual currency of the virtual world
Entropia Universe, popular in Europe, does not
float but is fixed to an exchange value with the
dollar.
Dotori
Dotori, literally meaning “acorns,” is the currency
in another virtual world called Cyworld.
Simolean
This is the online currency in The Sims Online, a
massive multiplayer online real-life game.
QBCoins
This is a virtual currency distributed by the
Chinese Internet conglomerate Tencent Holdings,
Ltd.
WoW Gold
This is the currency used in the WorldOfWarcraft
.com gaming community.
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