Neoscoin – Locally Hosted Altcoin Developed in PHP

Journalist:
September 5, 2014

Neoscoin is today’s Random Coin of the Day. It’s the first coin developed in PHP. You don’t need a web hosting account or domain for this as you host it on your computer system, at (localhost or 127.0.0.1). Neoscoin even includes built-in exchange features to communicate with supported exchanges.

Neoscoin is mine-able with three different algorithms, X11, Blake-256, or Sha-256. The wallet also includes anonymity features, the Neoscoin IRC so you can talk to the community, and troubleshooting tickets in case you get stuck.

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Neoscoin Exclusive Review

The following is a review of Neoscoin with information from the coin’s official BitcoinTalk announcement thread.

Market Cap: $190,000
Maximum coins issued: 21 Million
Hash algorithm: Multi-algorithm (your choice of algo): SHA-256, Blake-256, X11
PoW or PoS: POW
Is it able to be mined: Yes
Exchanges: BitTrex, C-CEX
Block explorer: Neoscoin Explorer
Launch date: August 24th, 2014 5PM EST

What is the coin’s purpose?

Neoscoin is the first PHP wallet and provides access to multiple coin exchanges so you can trade directly from your wallet. The built in exchange conforms to a similar look to that of BitTrex so you don’t need to learn a whole new interface. When making transactions, you have the ability to turn on anonymity features. Neoscoin anonymity is achieved by sending your coins to a multi-homed farm that triggers a transaction to the recipient, all of which is done automatically by entering the recipient’s Neoscoin address as the payee. Neoscoin named this feature “Arbitrush.”

Arbitrush allows you to create a one-time key-pair if you wish to. That allows you to view the anonymous transaction later, and you may use it as proof that you actually sent the funds to the recipient if they claim that you never sent the funds.

What problem does it solve?

Neoscoin allows for mining via three different algorithms, X11, Blake-256, and Sha-256, instead of forcing the miners only to use one algorithm to mine. That is a huge improvement for everyone. ASIC miners are more interested in Sha-256, but they don’t drive the difficulty sky-high for GPU miners on Blake-256 and X11.

There has never been a PHP based wallet until Neoscoin came along. The current interface uses the “SB Admin” theme from Start Bootstrap. The Neoscoin wallet also comes in the QT  (Bitcoin Core style) flavor along with the web wallet. The informative Neoscoin video teaches you all about Neoscoin’s capabilities and seeks to clear up any misconceptions some users may have about Neoscoin.

Who are the developers?

Syntaks” is the lead developer of Neoscoin and has been involved with the development of Bellacoin and other various coins as a contract developer. Syntaks works with two other developers to maintain and develop Neoscoin.

What are the coin’s future endeavors and how do they plan on achieving those goals?

Neoscoin is integrating arbitrage trading into the web interface for coin-holders to trade across various exchanges they integrate. Neoscoin has not yet set a date for when they will deliver this new feature.

Disclaimer: I do not own any Neoscoins.

Photo Credit: Neoscoin logo borrowed from the Neoscoin BitcoinTalk thread

Rick Mac Gillis @ManWithNoBrows

Rick Mac Gillis entered the world of Cryptocurrencies in late 2013. He is a controversial journalist committed to investigating and exposing the "dirty bits" of the community. With over a decade of experience in LAMP web development with a focus in custom cryptographic security methods and ethical hacking, Rick Mac Gillis understands the need for proper security standards in cryptocurrency.