What is Vertcoin?
Vertcoin is another decentralized cryptocurrency launched on 8 January, 2014. It is based on a peer-to-peer network and is also known as ‘The People’s Coin’. Here’s a chart made by Alotta-Money on Reddit regarding what makes Vertcoin so special:
If Vertcoin is yet another of different others, then why is it so important and why should you invest in it, you might ask. Let’s take a look at top 7 reasons why we think Vertcoin is a cryptocurrency which will surely become more valuable than it is now.
- Vertcoin is a financial system owned by its users; it’s the people’s coin.
The system is peer-to-peer, and transactions take place on the network between its user without the interference of a third party. With Vertcoin, you can rest assured of stable transaction fee and not inflated. Vertcoin isn’t controlled by any central bank, neither can it be dominated by hardware mining manufacturers. Lastly, it fairly distributed. Those who has it are either miners or those who have purchased at market price. There were no initial pre-mined coins neither were there some set of people who got it cheaper at ICO nor got it free via airdrop.
2. Vertcoin is ASIC Resistant.
ASIC, or application-specific integrated circuit as they are referred to a single-purpose processor. This makes them faster than the multi-purpose processors. Because the Vertcoin team believes that mining should be smooth and fair to every participant, they have made the network non-ASIC compliant, and the development team intends to keep it that way. This they have said is to maintain a long-term security and a fair distribution that a digital currency should possess.
- Anyone can mine.
With a One-Click Miner still in development, Vertcoin intends to make mining extremely easy. With the miner, you can mine and get rewarded with some Vertcoins by being part of the network.
- Active community members do development, and anyone can be part of the development team.
Vertcoin has an open source community of developers whose aim is to contribute to the development of blockchain technology, Vertcoin believes in learning from other blockchain developers, and this has contributed to its robust features.
- Vertcoin is scarce.
Like gold, Vertcoin has a finite resource. All there will ever be is 84 million Vertcoins which is four times the number of Bitcoin, and Vertcoin is sure to keep your money safe from vested interests.
- Segwit activated.
Segregate means to separate, and Witnesses are the transaction signatures. Hence, Segregated Witness, in short, means to separate transaction signatures. Segwit was activated on Vertcoin in May 2017. This was to increase block size limit and also to implement a second layer solution for future improvements.
- Vertcoin is scalable; blockchain transactions are approved in an instant.
With lighing network transactions on the Vertcoin blockchain do not take time to process as in cases of massive network increase, transactions are moved off the blockchain, and this makes transactions get processed in time.
These are some of the reasons why we think the Vertcoin is cryptocurrency you should take into consideration and with the time may be one of the best cryptocurrencies for day-to-day transactions.
Vertcoin is easy to send and receive with a wide range of web and mobile wallets available. With a wallet for almost every operating system and mobile devices, and hardware wallets supporting Vertcoin, it’s a digital currency to look out.