what is devcoin

Devcoin is an ethically inspired cryptocurrency created in 2011 to support open source programmers and writers worldwide. Devcoin will eventually fund all types of developers including hardware developers, musicians, painters, graphic artists and filmmakers. Devcoin is one of the longest running blockchain based digital currencies.

Devcoins can be merge mined with Bitcoin, earned by developing, writing or completing tasks known as bounties, or purchased on various exchanges.

The Litecoin blockchain is capable of handling higher transaction volume than its counterpart - Bitcoin. Due to more frequent block generation, the network supports more transactions without a need to modify the software in the future. As a result, merchants get faster confirmation times, while still having ability to wait for more confirmations when selling bigger ticket items.

How to earn Devcoins

90% of Devcoin generation goes to open source projects with bounties for accomplishments and regular payments for active developers. Writers earn Devcoins by writing, developers earn Devcoins by developing, marketers earn Devcoins by marketing, and administrators can earn Devcoins by helping to administer the Devcoin project.

How to get a Devcoin wallet

The Devcoin Wallet is free, open source software. You may download the Devcoin source code to compile the wallet yourself, or you may download a precompiled binary for your operating system. Devcoin GUI is the client, Devcoind is used for mining Devcoins.

Where to spend Devcoins

Devcoin has a healthy and growing ecosystem with over 15 merchants and exchanges supporting DVC. Books, precious metals, jewellery, computer hardware, hard cash, press releases, writing services, lotto tickets, digital currency investments and much more can all be purchased with DVC.

Getting started with Devcoin

It is very easy to start using Devcoin.

What is Devcoin mining?

If you have never mined Devcoins before then this may be a problem.

If you want to mine Devcoins with your CPU, double click on the file "MineWithCPU.bat" from the folder "Mine Devcoins with CPU". If your hardware can handle it, your computer will begin mining Devcoins for a test worker I've set up at the mining pool Bitparking. It could take hours before you get a share though. Mining Devcoins with your CPU isn't effective, but you can experience how it works by executing this file.

If you want to mine Devcoins with your GPU, double click on the file "MineWithGPU.bat" from the folder "Mine Devcoins with GPU". If your hardware can handle it, and the miner I've included recognizes correctly the graphical card you've got on your computer, it will begin mining Devcoins for the same test worker I've set up at the mining pool Bitparking. It could take minutes before you get a share though. Mining Devcoins with your GPU is far more efficient than doing it with your CPU, but still not good enough in a world where ASICs made specifically to mine Bitcoins contribute most of the mining power to the Bitcoin network. And since Devcoins and Bitcoins are usually mined together, you might not get many Devcoins with your GPU. You can experience how GPU mining works by executing this file though.

Now that you have tested your hardware and know you can mine Devcoins correctly, you may join a mining pool and change the name of my workers and the URL of Bitparking which you can see if you edit the files "MineWithCPU.bat" and "MineWithGPU.bat". Write instead the names of the workers you created on your pool of choice and its URL:port so as you can mine Devcoins for yourself (this URL:port information is given to you when you make an account on a mining pool).

If you don't know how to join a mining pool, read (not necessarily follow, but READ, since all pools work the same way) my tutorial on this topic: How to Join a Mining Pool

If you want to mine Devcoins solo (which is not recommended, because it's extremely difficult that you ever find a block on your own), follow these steps:

Copy the file "devcoin.conf" provided in this package to your Devcoin working directory (most likely "C:\Users\YOURNAME\AppData\Roaming\Devcoin"). Now navigate to the directory where Devcoin was installed (most likely "C:\Program Files (x86)\Devcoin\") and execute devcoin.exe. Wait until you are fully synchronized with the network.

Execute the file "SoloMineWithCPU.bat" from the folder "Mine Devcoins with CPU", the file "SoloMineWithGPU.bat" from the folder "Mine Devcoins with GPU" or both of them. Your computer resources will begin mining Devcoins. It could take you a LOT of time before you find a full block. Or maybe you are extremely lucky and find one in one minute. It's impossible to know!

Note 1: the miner provided for CPU mining is Pooler's CPUminer 2.3.2 and the one for GPU mining is CGMiner 3.7.2. Other miners exist which might suit your hardware better and increase your mining speed.

Note 2: some antivirus programs consider all cryptocoin miners malware. They are not! The problem is that some bad people included them inside other legit packages of software so as they would mine for them on other computers without their owner's knowledge. When they were found, antivirus companies labeled them as malicious software.