The popularity of cryptocurrencies in modern business is growing every hour. Crypto-money is gradually and very confidently taking on the lion’s share of all types of payments and transactions. Financial analysts of the world market claim that electronic money is only gaining strength and is at the start of its power. Not all new financial forks are becoming popular and interesting for stockbrokers. The coin that shows progressive growth has a chance to become noticed and in demand. VertCoin appeared in 2014 and today it has every chance in the cryptocurrency market.
The decentralized cryptocurrency Vertcoin comes from Bitcoin. The open code of this currency increases the protective functions of the coin, eliminating the shortcomings of bitcoin.
ASIC miners will make it impossible to acquire tokens as the main miners, while the entire volume will remain under the control of Asics and make them monopolists.
A hybrid approach to creating production algorithms on this fork will increase protection against ASIC by half. Scrypt Adaptive N-Factor is the latest type of protection, the principle of which is the rationalization of memory, which makes it inappropriate to use ASIC systems.
January 9, 2014, is the official birthday of the Vertcoin cryptocurrency. Only three blocks are known that checked the operation of the network and programs. The coin was launched without mining, which allows us to talk about the uniqueness and originality of this crypto-money.
Today VertCoin has the following characteristics:
- creator – Vertoe;
- abbreviation on the exchange – VTC;
- output volume – 84 million VTC;
- February 4, 2014 the value of the coin was equal – $ 2.01;
- VertCoin capitalization – $ 34936602;
- development protocol – Proof-of-Work;
- VertCoin rate – 1 VTC equals 0.00022024 BTC;
- September 2017 – $ 0.883;
- Representative Office – VertCoin.org.
Now VertCoin has lost ground and left a list of TOP altcoins.
History of occurrence
The birthplace of VertCoin was GitHub web hosting. The history of Vertcoin begins on January 9, 2014. This electronic currency was supposed to be an alternative to the famous Bitcoin and Litecoin. The developers and creators of Vertcoin took into account all the shortcomings of the latter. VTC coins made adjustments during mining on personal computers, which made the demonopolization of mining centers inevitable. With the active support of Stealth, the VertCoin wallet began working on July 1, 2014. After 183 days, developers launch active protection through the Lyra2RE algorithm, which simply blocks or destroys specialized ASICs adapted to receive coins using the Scrypt-N algorithm. In the summer of 2015, the botnet captured more than 50% of the cryptocurrency hash, but VertCoin uses the new Lyra2REv2 algorithm, which successfully resists everyone. This approach to protection is used now.
Features and principle of operation
VTC cryptocurrency is mined using the Scrypt-N algorithm. Variable N allows confusing ASIC, which makes the decentralization of large mining centers successful. 84000000 – coin platform. A complete block is completed in two and a half minutes. After each block, there is a mandatory recalculation of complexity. When implementing the full block, the miner receives 50 coins. Half-revenue: every 840,000 blocks.
VertCoin – a fork of Bitcoin.
Miners working with Bitcoin cannot do without an ASIC device. Expensive equipment contributes to the monopolization of the cryptocurrency market and significantly affects the rate.
VertCoin allows you to manage the process for each producer from your personal computer through the use of a video card.