FeatherCoin was first launched in 2013 as an outgrowth of the original Litecoin. This makes it a second-generation cryptocurrency since Litecoin was based directly on Bitcoin. The difference is that it produces 16 times the block reward of Bitcoin and will be capped at around 336 million coins. FeatherCoin has a low level of difficulty for solving blocks and provides a higher level of security compared to other altcoins.
FeatherCoin may seem like a Litecoin copycat, but it has managed to develop on a different track than its originators. The first step was the change to NeoScrypt. Originally, Litecoin and FeatherCoin used the Scrypt algorithm for its mining. Scrypt is a quicker and simpler algorithm than the original SHA-256 algorithm used by Bitcoin.
It is much easier to run on an already existing CPU, and tends to use less energy. This makes it ideal for individual mining since even small miners can generate profit. Neoscrypt, which FeatherCoin switched to in 2014, is even easier to calculate. This makes FeatherCoin faster in dealing with transactions than its predecessors.
FeatherCoin has also developed a wealth of features that make it comparable with some of the altcoins out there. The altcoin allows for user-friendly multisig in its GUI and comments on blockchain functionality. Developers have also added in-wallet plugin architecture for 3rd party services. This has borne fruit in the fact that both Coinnector and Shapeshift have integrated their services to use FeatherCoin.
The base wallet app has also been refined to ensure maximum functionality. Users can print paper wallets straight from the wallet app, while allowing for a Bitmessage plugin that ensures secure communications. The wallet also features enhanced transaction views and reports to help keep track of the transactions.
FeatherCoin did not come this far without the solid support of its development community. The team behind FeatherCoin has dedicated a lot of manpower to deliver an excellent product. Led by Peter Bushnell, the developers have followed a solid development roadmap that keeps FeatherCoin up-to-date and competitive in the altcoin market.
The community has been enthusiastic in its support and has developed a variety of apps to support the main network. This includes projects for taking FeatherCoin into the mainstream like ATM apps and Point-of-Sale terminals. The excitement about the altcoin has already spread to some merchants and services. This includes the altcoin exchange BitGild to the Dahms Franken winery. As the FeatherCoin cryptocurrency develops, it is hoped that more merchants take up the FeatherCoin banner.