Cryptocurrency Vertcoin is a virtual financial instrument that resists ASIC systems, and very effectively. The latest crypto market trends show that this type of digital currency is gaining more and more popularity.
The types of payments for goods and services, as well as the number of transactions per 24 hours in which this virtual currency appears, are growing monthly.
The refusal of this payment method in some countries will not affect the popularity of forks shortly. Financial analysts say this with confidence.
| Official Website | https://vertcoin.org/ |
| Launched in | 01/09/2014 |
| Disbursement | Medium |
| Liquidity | Medium |
| License | Open-source |
| Original author | James Lovejoy, Joe Straub (aka Zemrys), Eric Etang (alias Etang600), and Gert-Jaap Glasbergen |
| Active hosts | N/A |
| Limits | 84,000,000 VTC |
| Private Transactions | No |
| Public vs. Private | Public |
Vertcoin: Key Facts
Vertcoin was launched as an alternative to Bitcoin or Litecoin on its blockchain. This currency is the slogan “the people coin”, confirmed from the beginning. The launch of VTC did not precede any airdrop, ICO, or coin pre-release.
Another feature of Vertcoin is low transaction fees. Implementing the Lightning Network helps Vertcoin reduce the value of this cryptocurrency to zero.
In addition, the creators of this coin decided that it is ideal for VTC when people can use and store it on Mac, Windows or Linux. That’s what they did, and that’s why Vertcoin is a cross-platform digital menu.
Key Features of Vertcoin (VTC) include
- VTC was launched on 01/09/2014 by the developer VERTOE.
- The amount of the envisaged issue is 84 million VTC;
- The cost of VTC one month after the launch (as of February 4, 2014) is $2.01; and as of September 19, 2017 – $0.883;
- Protocol – Proof-of-Work
- Market capitalisation – 34936602 USD
Vertcoin cryptocurrency: mining features
VTC mining at the very beginning of its existence was carried out by miners quite actively, because mining Vertcoin, given the features of this digital currency, was quite comfortable. The main features of mining include:
- The initial algorithm is scrypt-n;
- The current generation algorithm is Lyra2RE;
- Number of blocks before recalculation – 1;
- The time of finding each block is 150 seconds;
- Number of coins for each decision block – 50
- The actual complexity is within 25960077987 solutions.
Miners have found over 477199 blocks. Vertcoin mining can be a promising activity. The good thing is that VTC is well-mined on a regular computer. It is only necessary to have a powerful (of course, discrete) video card and 4 GB of RAM, which by modern standards is even below the optimal minimum. Such democratic technical requirements make the VTC mining process very promising.
The advantages of this digital currency, no doubt, include the speed of finding a block and the absence of the need to have powerful equipment in the form of large mining farms, which are not cheap, and consume a lot of electricity.
At the same time, mining VTC alone should not count on a solid profit, but mining through online pools can bring quite a decent income.
What Is Vertcoin Coin?
The Vertcoin team consists entirely of volunteers. However, there are many experts in cryptography and programming, as well as in the field of mining and marketing.
The leading developer is James Lovejoy. James devoted himself to programming in various forms since childhood. He is currently one of the researchers at the Massachusetts Institute of Technology (MIT) on the Digital Currency Initiative project. In particular, he is working on adopting the monetary policy in the crypto sphere.
Another critical group member is Joe Straub, also known as Zemris. He initially studied and worked with .NET and C#, but he also has experience with other programming languages. VTC has been working on the project almost from the very beginning since he joined the project in 2014.
The team has many other experts, such as Alex Turok, Brian Goodsen (Goodminer), Eric Ethan – also known as (Etang600), as well as a developer who goes by the pseudonym jk_14. The whole team is committed to a better environment for the future of Vertcoin and achieving its mission.
How Vertcoin Coin Works
One of the biggest and most important benefits offered by VTC is ASIC resistance. If Vertcoin should be proud of the slogan “a coin for ordinary people”, it cannot afford to be mined, especially by large companies and companies. As long as it works.
Unlike cryptocurrencies like Bitcoin ($6,240.24–3.6%), Dash or Litecoin, Vertcoin ASIC (Application-Specific Integrated Circuit) is sustainable. In simple terms, the currency cannot be mined by machines produced only for mining cryptocurrencies.
This hardware tends to be relatively hard to find for small and regular miners and, therefore, can lead to an imbalance in Vertcoin mining. However, the team is still trying to develop Vertcoin to make mining impossible with these machines. Therefore, the booty is available to everyone and relatively fair.
Why is the team so concerned about ASIC stability? The reason is simple. If VTC plans to serve all people, they should have the same opportunity to access the mining of this cryptocurrency. This is why, for example, two forks were created.
From the original hash function acquired from Litecoin, it gradually switched to Lyra2RE and then to Lyra2REv2. This, in particular, concerned the decentralisation of mining since Litecoin is not immune from ASICs.
The revolutionary algorithms used in the Vertcoin network make it possible to implement the most simple and affordable coin mining, which is often called “one-click mining”. This feature is key because it makes it as easy as possible to get the currency for the most ordinary users and prevents them from doing the same on an industrial scale, organising a monopoly.
In addition, a protocol update called SegWit was introduced into the network, with the help of which the scalability problem was solved, and the block size was increased. Thanks to this, there are many opportunities for implementing important aspects of “layering” and their further improvement.
It is also worth noting a few more main advantages of Vertcoin, which are also quite important, like decentralisation:
- High-speed setting. The network can conduct huge numbers of instant transactions and has increased throughput.
- Project team activity. The project user community has almost unlimited access to communicate with technical specialists. The two sides are constantly exchanging information and opinions. Based on this activity, new functions are being introduced, and the entire system is being developed.
- Philosophy of the project. People created Vertcoin for people, protected from the influence of huge capital and intermediaries.
In general, the project has several parameters that make it quite unique and stand out from the background of numerous market competitors, which are constantly updated with new developments.
Source: coinmarketcap
Pros of Vertcoin
Reduction in Electricity Consumption
The main advantage of the new algorithm was the reduction in electricity consumption, which had a positive effect on the heating of video cards. Lyra2RE looks like a chain version of the algorithm based on the following functions:
- Skein;
- Lyra2;
- Groestl;
- Keccak;
Optimistic Forecasts
Regarding Vertcoin, the analysts’ forecast is very optimistic. Even though the value of assets has significantly decreased, there is still a chance that the situation will stabilise and this CV will regain its “former glory”.
The project, launched in 2014, is still considered modern and quite interesting.
Considering the situation with this coin today, it should not be considered a single trading tool. However, VTC can be considered an additional option for investing part of the asset if analysts’ forecasts still come true.
Vertcoin can perform well, but to reduce the risks, it would be good to buy (or mine) other coins. Before deciding, it would be good to keep track of cryptocurrency news. It also does not hurt to discuss cryptocurrencies on the forums.
This will help you better understand the current situation and what it can lead to in the future. Regardless of the chosen financial instrument, market analyst plays one of the leading roles in trading, and it doesn’t matter if it is classic or cryptocurrency.
Cons of Vertcoin
No evident disadvantages can be listed for now. Some users claim that there should’ve been some mining pools to ensure big volumes of coins possible to mine.
Vertcoin in Numbers
- Market Cap: $9,120,307
- Fully Diluted Market Cap: $11,656,378
- Circulating Supply: 65,724,172 VTC
- Max Supply: 84,000,000 VTC
- Volume / Market Cap: 007964
- Market Dominance: 0.00%
- Market Rank: #716
How Can I Obtain Vertcoin?
Buy Vertcoin
For investors, this coin is of interest because some technical solutions and a specific development direction distinguish the coin.
Against the background of the protracted fall of the cryptocurrency market, the technologies offered by the Vertcoin coin, together with a full-fledged decentralised structure, help this crypto continue to attract the attention of users and investors interested in making a profit using this crypto asset.
Before investing in this coin, it is recommended that you familiarise yourself with expert forecasts for 2021 for Vertcoin, as well as an independent study of the existing factors that affect the exchange rate of this coin. Such an approach will increase the chances of profit-making when investing in VTC.
Mining
Mining is one of the biggest perks of VTC. There are several reasons (other than ASIC resistance). Mining is generally friendly and relatively easy, even for people who don’t have advanced IT skills.
One-Click-Miner (one-click mining) was developed by the Vertcoin team exclusively for people who want to mine their cryptocurrencies but need to be more experts. Starting mining should be very easy, and everyone should master it. As the name suggests, mining should be a matter of a few clicks.
How to Buy Vertcoin?
You can buy VTC directly on the coin’s official website using their wallet or any reliable broker or exchange.
Fees
The fees may vary depending on the brokerage you choose. So, be sure to read the rules before processing the transaction.
What Can Vertcoin Do?
Vertcoin is an exciting cryptocurrency. The lack of the possibility of mining in huge pools excludes the possibility of holding a considerable amount of coins by the so-called whales. And this means that Vertcoin cannot have strange manipulations with the course. The coin cannot be controlled by one person or group.
At the moment, VTC is significantly undervalued. People simply need to see and learn about its existence, although the Vertcoin network does offer something new and unique in the cryptocurrency market. We bet that the coin will take off in the next 1-2 years, and this will be a well-deserved growth.
The Latest News About Vertcoin
The price of Vertcoin on 09/25/2022 is $0.195464, and the trading volume for 24 hours is $208,398. The cost of cryptocurrency has grown by 5.4% over the past day. There are 64 million VTC coins in circulation, for a total of 84 million. Vertcoin hit a record high of $9.80 on December 5, 2017.
The record low value was $0.006347309019 on May 04, 2015.
As a hedge against inflation, Vertcoin implements a halving regime every four years.
On December 8, 2021, Vertcoin reduced the mining reward from 25 VTC to 12.5 VTC per block. The economic benefits of halving are the subject of much debate. Although it is a simple economic fact that a reduction in supply increases the value of an asset. Some analysts believe the economic benefits of the halving are exaggerated.
Vertcoin Trading Tactics
With the popularisation of the VTC coin among users, the most popular cryptocurrency exchange trading platforms within the crypto market have added support for transactions using this crypto token. This is additional evidence of the prospects of this coin.
The Coinrum cryptocurrency exchange provides the most significant number of operations to convert this crypt. On this platform, VTC can be sold and purchased for popular crypto coins and fiat money.
The daily trading volume of transactions involving this crypto asset has almost reached the mark of one million dollars, which is a good result for such a small project.
In addition to cryptocurrency exchanges, you can purchase this crypt using special Internet services that provide online cryptocurrency exchange services. You can get information about the current exchange rates from online exchanges using the site bestchange.ru. The main advantage of carrying out a VTC conversion transaction using exchange offices over cryptocurrency exchanges is that online exchangers do not need to go through the mandatory user account registration procedure. This speeds up the process of exchanging coins and makes such operations cheap.
Mining can be an alternative option for obtaining Vertcoin tokens. With the help of software tools traditional for miners, anyone can use the computing power of a computer or a special mining farm running on several video cards to mine this digital asset. To increase the productivity of crypto mining, you can become part of a mining pool, making mining cheap and profitable.
Vertcoin Fundamentals: Key Factors
Vertcoin (VTC) is a P2P digital currency designed to protect the confidentiality of transactions and prevent the undue advantage of ASICs. A transaction using VERTCOIN is performed using hidden addresses, which does not allow revealing the address details of wallets. The system operates based on the Lyra2RE(v2) algorithm with a maximum volume of 84 million VTC and 2.5 minutes of block generation.
Other salient features comprise
- Decentralized operation. The main philosophy of the project is honest and affordable mining. The Vertcoin network does not allow the use of ASICs, thus ensuring the long-term security of the digital asset.
- Availability of a Web wallet. This is a simple and reliable way to send VERTCOIN to relatives or friends. Traders can use this feature on a tablet or phone to accept payments without downloading any additional apps.
- A professional development team is constantly working on developing blockchain technology. The Vertcoin community focuses on building strong relationships with other Blockchain developers and sharing knowledge.
- Updated SegWit protocol. Segregated Witness was activated in May 2017. The project team believes this is the best option to make transactions more flexible. The SegWit protocol aims to increase the block size limit and allows the implementation of two-tier solutions.
- Throughput. The network offers the ability to scale transactions on the blockchain. Presumably, this will significantly increase network bandwidth.
FAQ
Who are the authors of VTC cryptocurrency?
James Lovejoy, Joe Straub (aka Zemrys), Eric Etang (alias Etang600), and Gert-Jaap Glasbergen.
What is VTC?
Vertcoin (VTC) is an open-source, decentralised digital currency. The main goal of creation is to make mining more accessible. Vertcoin is similar to Litecoin and Bitcoin. However, the consensus algorithm makes VTC mining ASIC-resistant.
What’s the main particularity of Vertcoin?
The revolutionary Vertcoin Proof-of-Work algorithm (called Lyra2RE) makes coin mining very easy for ordinary users in two clicks. In addition, SegWit has already been introduced into their network, with the help of which Vertcoin has an increased block size and also can introduce “layering” for further improvement.
