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@ -117,18 +117,18 @@ In this chapter, we will concentrate primarily on the technical characteristics
((("alt coins","monetary parameter alternatives")))((("currencies, alternative","monetary parameter alternatives")))((("monetary parameter alternatives")))Bitcoin has a few monetary parameters that give it distinctive characteristics of a deflationary fixed-issuance currency. It is limited to 21 million major currency units (or 21 quadrillion minor units), it has a geometrically declining issuance rate, and it has a 10-minute block "heartbeat," which controls the speed of transaction confirmation and currency generation. Many alt coins have tweaked the primary parameters to achieve different monetary policies. Among the hundreds of alt coins, some of the most notable examples include the following.
*Litecoin*
===== Litecoin
((("Litecoin")))One of the first alt-coins, released in 2011, Litecoin is the second most successful digital currency after bitcoin. Its primary innovations were the use of _scrypt_ as the Proof-Of-Work algorithm (inherited from Tenebrix) and the faster/lighter currency parameters.
((("Litecoin")))One of the first alt coins, released in 2011, Litecoin is the second most successful digital currency after bitcoin. Its primary innovations were the use of _scrypt_ as the proof-of-work algorithm (inherited from Tenebrix) and its faster/lighter currency parameters.
* Block generation time: 2.5 minutes
* Total currency: 84 million coins by 2140
* Consensus Algorithm: scrypt Proof-Of-Work
* Market capitalization: $160 million USD in mid-2014
* Consensus algorithm: Scrypt proof of work
* Market capitalization: $160 million in mid-2014
*Dogecoin*
===== Dogecoin
((("Dogecoin")))Dogecoin was released in December of 2013, based on a fork of Litecoin. Dogecoin is notable because it has a monetary policy of rapid issuance and a very high currency cap, to encourage spending and tipping. Dogecoin is also notable because it was started as a joke but became quite popular, with a large and active community, before declining rapidly in 2014.
((("Dogecoin")))Dogecoin was released in December 2013, based on a fork of Litecoin. Dogecoin is notable because it has a monetary policy of rapid issuance and a very high currency cap, to encourage spending and tipping. Dogecoin is also notable because it was started as a joke but became quite popular, with a large and active community, before declining rapidly in 2014.
* Block generation time: 60 seconds
* Total currency: 100,000,000,000 (100 billion) Doge by 2015