A new altcurrency partnership has just been announced. The United Open Currency Solutions (UNOCS) group consists of Feathercoin (FTC), Phenixcoin (PXC) and WorldCoin (WDC). The three currencies intend to merge their development teams while keeping the three currencies separate. The UNOCS website, has a nine day countdown, indicating there’ll be more to find out then.
The three coins are planning to form a complementary set as they have each been created with distinct focuses. For example, Feathercoin aspires to be a cryptocurrency for consumers. This was demonstrated by the Feathercoin marketplace.
Meanwhile, UNOCS states that Phenixcoin has been created for the “entertainment industry”. In practice, this coin is aimed at gambling sites, such as its own PhenixPoker.com website.
WorldCoin is a currency built to facilitate cryptocurrency commerce for merchants and businesses. Its website states:
Our major goal is to become the cryptocurrency of choice for merchants and consumers for their everyday transaction, whether it be a cup of coffee or a bigger ticket item. Our speed and security makes all of this possible. WorldCoin is also based on sound money principals which makes it the smart choice for wealth preservation. It is designed to appreciate in value over time, unlike paper currency. This is due to the fact that only x coins will ever be produced. These advantages are what makes us the leading choice for users.
UNOCS told us:
UNOCS is a collaboration between three established currencies in order to provide improved consumer and merchant services. A joint platform to push back technological boundaries and create cutting edge tools that will define the next stage of cryptocurrency adoption.
In the coming weeks strategic solutions, services and applications will be rolled out to facilitate acceptance and wide-scale use of crypto-coin services across all markets. UNOCS intend to create industry standards by working together and pooling our resources to be innovative leaders in this field.
The altcurrencies partnering for UNOCS are all Scrypt based coins. Of all the altcurrency exchanges, only Cryptsy lists all three of the partnered currencies. On that exchange, the bitcoin price for each is as follows: FTC/BTC=0.00086500, PXC/BTC=0.00028127, WDC/BTC=0.00011112. For reference, the bitcoin price of litecoin on Cryptsy was 0.02815001 at the time of writing, nearly two orders of magnitude higher than the other prices listed here.
“Time will tell whether there is something substantial here, but I’m always excited about new initiatives around altcoins. I think it’s important to not dismiss altcoin experiments and innovation, but rather to encourage it – this keeps the bitcoin community on its toes and it helps create a more resilient cryptocurrency ecosphere.
“I’m keeping an eye on what’s happening. Over time the altcoin community will start maturing, and I think in the next few years we’ll see the emergence of important complementary currencies.”