asiccoin-asc-cryptocurrency-logo

AsicCoin (ASC) currency rating

AsicCoin (ASC) currency rating

Community
Presence on exchanges
Technology
Overall
Asiccoin is a bitcoin fork with faster transaction times. That's not enough to give it true staying power.

2

on a scale of 0 through 5

This post is part of a rating series where I’m trying to rate every major cryptocurrency on the market. See our full list of cryptocurrencies to find other ratings.

asiccoin-asc-logoRating summary: Asiccoin launched on Sept. 11, 2013 as a cryptocurrency designed to be mined on a specific type of processor called an ASIC (Application-Specific Integrated Circuit).

AsicCoin (ASC) Currency Review

Asiccoin was inspired by bitcoin and drew sourcecode from bitcoin version 0.8. Mining is intended to be done on ASIC processors, specialized hardware designed from the ground up for bitcoin mining. That puts mining out of reach for the everyday computer user, but mining pools for the new coin remain active indicating there’s a decent community building around Asiccoin. Since it’s designed to be mined on ASICs, difficulty levels are high (around 40,000 at the time this writing).

Asiccoin’s biggest difference from bitcoin is faster transaction times and a higher total circulation. Where they’ll only be 21 million bitcoins in existence, there will be more than 675 million asiccoins. That’s means they’ll never cost as much, but that could also make them more accessible (and, perhaps, more likely to be used as a medium of exchange).

Asiccoin is starting to emerge on some of the bigger cryptocurrency exchanges (i.e. Cryptsy, where it trades in pairs with litecoin and primecoin).

In general, though, I’m not a huge fan of cryptocurrencies that require special hardware for mining (outside of bitcoin, of course). It concentrates mining in the hands a few hardcore miners with deep pockets. Asiccoin doesn’t add much in the way of innovation beyond providing occasional “superblock” rewards for miners and a much higher total circulation than bitcoin.

As mentioned earlier, asiccoins do feature faster transaction times than bitcoin at just 2 minutes (with four confirmations). That’s not quite as speedy as Fastcoin, but it’s pretty high on our list of the fastest cryptocurrencies. Still, I don’t think these factors are enough to give asiccoin true staying power.

AsicCoin Price Target

NOTE: This price target is entirely speculative. It’s a hypothetical what-if, so take it with a grain of salt. Asiccoin is a diluted bitcoin with faster transaction times. Specialized mining could relegate it to the fringes of the cryptocurrency community. I’d be surprised to ever see the coin break the $1 mark.

AsicCoin Fundamentals

Ticker: ASC
Official website: Asiccoin.biz
Official forum: Bitcointalk
Announcement: Bitcointalk
Total circulation: 675,925,530
Cryptocurrency type: SHA-256

Photo background credit: Anant12. Click to view more cryptocurrency ratings.

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