It looks like today could be another slow news day, but that does give us the opportunity to look at some of the recently released coins, like SIngularity. An anonymous dual-algorithm digital currency? Now I am really intrigued!
Singularity labels itself as “Anonymous dual-algo Scrypt/X13 GPU/ASIC friendly”. Okay, first things first. You can mine Singularity by using either the X13 or Scrypt algorithm, which means my small Scrypt ASIC will be of use. Liking the coin already.
The reason for making Singularity dual-algorithm, is so we can have a word where Scrypt ASICs and Graphics Cards can co-exist peacefully. As users can mine the algorithm of their choice, no one is being left out. An interesting approach to say the least.
Being (ninja) launched on June 29th, Singularity is officially two days old (as of this writing). In that short amount of time, a lot of people have taken an interest in this digital currency, and the network hashrate is quite high already.
Now I did mention Singularity will offer anonymous transactions as well. As we have seen a few other digital currencies do lately, the Singularity client also has the Tor protocol built-in. As there is still a lot of controversy around what Tor does and doesn’t, you might want to read this article:
There are a few long-term goals announced for Singularity, such as partnering with a marketing firm to gain mainstream acceptance, adding a chat feature in the client, and creating the very first anonymous mobile wallet for digital currencies!
The developer team is well aware these objectives are quite ambitious, which is why bounties from the Singularity pre-mine (0.7%) will be used to attract marketing and professional PR agents. Interested parties can always get in touch with the developers on BitcoinTalk here.
Let’s take a look at Singularity’s technical specifications next :
Exchange Symbol: (SING)
Total Coins: 2,944,000 (2.944 Million)
Miner’s choice Multi-Algorithm (M.C.M.A): use X13 OR Scrypt
Proof of Work
Block time: 3.5 mins
Block reward: 32 SING
Pre-mine : 0.7%
Since yesterday, Singularity has been added to the BitTrex exchange, where it is currently trading at a price of 0.002 Bitcoin per SING.
Singularity donations : SNKnxT7jnatNRwBFUxaNBdEZRqB1L4WLaN
You can find out more about Singularity through the following sources :
Singularity on BitcoinTalk : https://bitcointalk.org/index.php?topic=670533.0
Singularity on Twitter : https://twitter.com/SingularityCoin