Even if you start your own coin (FTC advised Hullcoin to do that) … :
FTC is ideal to experiment with. It is an open source project, community driven and members have concentrate more on bringing other members up to speed so they can assist with development, use or mine Feathercoin - In addition to being able to add and release new features before Bitcoin, such as stealth addresses and a Multisignature wallet.
To do this FTC leverages the $100ks or pounds worth of development of Bitcoin and then adds FTC features and settings.
FTC has been developed to be “ASIC” resistant so can be mined with commercial hardware, is 10 times more capacity that Bitcoin already, to handle normal day to day transactions.
To that end I have also developed a guide, which collates threads from the forum :
https://github.com/wrapperband/FeathercoinWalletGuide
There is also a [FAQ] Thread that you may find useful as you are researching.
[FAQ]s : https://forum.feathercoin.com/topic/8523/faq-new-forum-member-most-asked-questions-try-here-first
e.g. [FAQ] How do I mine Feathercoins?
http://forum.feathercoin.com/topic/8235/nsgminer-v0-9-0-the-fastest-neoscrypt-gpu-miner/19
The link could do with an update but it points to NSgminer. There are some guides, but they get out of date, best follow the instructions with the docs of the software which are good nowadays.
http://forum.feathercoin.com/topic/8518/minerx-neoscrypt-miningtool
Other wise some pools have their own miner and instructions.
Github
Any sort of study of Alternative currency should include Github, and how that is used to have open software development. You can assist by reporting bugs, raising issues, making improvement requests or contributing some code you have which aids your custom use case …