Vertcoin

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Vertcoin
VTC Logo.png
Ledger The Vertcoin peer-to-peer network regulates and distributes through consensus in protocol.
Date of introduction 8 January 2014[1]
User(s) International
Plural Vertcoin, vertcoins

Vertcoin (VTC)[2] is a peer-to-peer cryptocurrency and software project.[2] Vertcoin is currently the 14th-largest cryptocurrency by market capitalization,[3] which is $4,608,294 USD as of 17 May 2014.

History[edit]

Vertcoin was released via a client on GitHub on January 8, 2014.[1]

A 2014 International Business Times article mentions Vertcoin as a potential Bitcoin successor.[4] The article notes that it "hopes to offer an alternative. By taking the foundations of Bitcoin and making some adjustments, Vertcoin punishes miners who use powerful machines and work together in 'pools' to monopolise the mining market."[4]

Vertcoin Wallet[edit]

The Vertcoin Wallet can be downloaded from Vertcoin's official website.[5]

Addresses[edit]

Payments in the Vertcoin network are made to addresses, which are based on digital signatures. They are strings of 33 numbers and letters which always begin with the letter V.[6]

Merged mining[edit]

Cryptocurrencies have the ability to merge mine with another cryptocurrency, meaning a miner is able to mine for more than one blockchain at the same time. The benefit is that every "hash" that a miner submits contributes to the total hash rate of both currencies, and as a result, they both become more secure.

Vertcoin developers announced plans to add merged-mining with a new cryptocurrency to be called monoclecoin, so that developers may "test new features regularly".[7] They anticipated that this would end the proliferation of independent Scrypt-N-based cryptocurrencies, and that "new Scrypt-N coins will sidechain off of Vertcoin", which would improve Vertcoin's hashrate.[7]

See also[edit]

References[edit]

  1. ^ a b Vertcoin (Bitcointalk.org user) (2014-01-08). "Vertcoin; Scrypt N; Beat ASIC; Stealth Address - Alpha Testing". Bitcoin Forum. Vertcoin via Bitcoin Forum post. Retrieved 2014-06-10. 
  2. ^ a b "Vertcoin". Vertcoin.org. Retrieved 2014-03-12. 
  3. ^ "Crypto-Currency Market Capitalizations". Coinmarketcap.com. Retrieved 2014-03-12. 
  4. ^ a b Charlton, Alistair (2014-02-05). "Vertcoin: The soaring cryptocurrency set to surpass Bitcoin". International Business Times. 
  5. ^ "Vertcoin Downloadable Wallet". Vertcoin.org. Retrieved 28 April 2014. 
  6. ^ "Vertcoin Block Explorer". Vertcoin.org. Retrieved 2014-03-12. 
  7. ^ a b Vertcoin (Facebook user) (2014-04-18). "Vertcoin – In case you're not a regular on...". Vertcoin, via Facebook. Retrieved 14 May 2014. 

External links[edit]