With the creation of Bitcoin, Satoshi Nakomoto essentially opened up a new stream of innovation. We have seen a number of alternate crypto-currencies or Alt-Coins emerge over the last year – Litecoin, Namecoin, Peercoin, Dodgecoin, Mastercoin and many more. Frankly it was getting suffocating to hear of all those Bitcoin clones. In February 2014 however, a very interesting and innovative new P2P crypto currency was introduced – Huntercoin.
Huntercoin is defined as a human Mine-able P2P Decentralized Crypto Currency & Game. It is a fork of Namecoin that makes use of Namecoin’s protocol to host a decentralized game that is played on top of the blockchain. Namecoin on the other hand uses the protocol to resolve domain names.
What is it exactly?
Huntercoin is the Worlds first peer to peer (P2P) decentralized Massively Multiplayer Online Game (MMOG). It definitely has appeal to both gamers as well as crypto-currency enthusiasts.
Here, players control Hunters which harvest coins in a 2D virtual environment.
The Hunters return to a spawn area after harvesting, where the coins are effectively ‘banked’.
Participants collect Huntercoins (HUCs) inside a virtual environment through the application of strategy, teamwork and human effort.
HUCs have a real world financial value and unlike other crypto-currencies.
Huntercoin is affordably accessible to the majority because dedicated and expensive ‘mining’ hardware isn’t a necessity according to them.
These coins can then be converted into Bitcoins and real world currency.
Basically, you get Paid to Play! And not the other way round as it usually is.
This video gives you an overview of their platform:
Huntercoin effectively provides a distributed decentralised game and currency engine. Every event leading up to the present moment is recorded as a public ledger in the blockchain so your successes, failures, and transactions are immortalised. This also ensures Fair game play. Huntercoin can be merged-mined with both Litecoin as well as Bitcoin miners simultaneously – without the waste of computational power. This provides accessibility to existing Bitcoin and Litecoin miners without the need of extra energy, thus proving to be environmentally friendly.
Some features of Huntercoin:
Instant Peer-to-Peer Transactions
No or Low Transaction Fees
No Central Authority or banks
1 minute transaction times
Human Mine-able – Mine with your mind.
Machine Mine-able – Dual Algo –like Bitcoin and Litecoin
Merge Mineable With Bitcoin and Litecoin
P2P Decentralized Massively Multiplayer Online Cryptocurrency Game – MMOCG
Based on Namecoin – The First Altcoin and enables things such as decentralized DNS – check out.
Huntercoin reached $1m within the first three days of trading. It also has a rapidly-growing community, having accumulated over 5,000 players so far.
A new client is currently being developed for Huntercoin by MithrilMan:
Chiraag Patel is a Senior Reporting Analyst and the Editor of Bitcoin and Virtual Currency channels at Lets Talk Payments. He is an engineer with deep interest in MMORPG, Virtual Banking, Game Currency and Virtual Cash. Chiraag enjoys Reading & Blogging with focus on New Innovation, Technology & Startups in the Payments Space. Twitter:@chiraagpatel21