Vertcoin

price
change

Discover Vertcoin's fundamentals and latest news.

This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is Vertcoin?

Vertcoin (VTC) is a decentralized, open-source, peer-to-peer digital currency that mirrors Bitcoin's development. It is not funded or controlled by any entity and is focused on maintaining decentralized mining functions, making it ASIC-resistant. Vertcoin uses proof of work (PoW) for consensus and is designed to be a fairer, more democratized currency for users and miners.

How is Vertcoin used?

Vertcoin (VTC) is a decentralized, peer-to-peer (P2P) cryptocurrency designed to be accessible and easy to use for everyone. It is primarily used for making payments and transaction fees, similar to other cryptocurrencies like Bitcoin and Litecoin. Additionally, Vertcoin allows for atomic swaps, which enable users to swap VTC with Litecoin directly in their wallets without involving exchanges or fees.

How do I store Vertcoin?

To store Vertcoin (VTC) tokens, you have several options:

  1. Vertcoin Core Wallet: This is a forked version of the Bitcoin Core wallet, allowing you to manage your private keys, send or receive VTC, and download the entire transaction history. It is considered a reliable and secure option.

  2. Guarda Wallet: This wallet can be created on Guarda's website, and it supports storing and managing VTC tokens. It is a user-friendly option with a step-by-step guide available.

  3. Atomic Wallet: This multi-asset wallet supports over 30 coins and 500 tokens, including Vertcoin. It offers features like anonymous swaps, staking, and buying cryptocurrencies. Atomic Wallet is known for its security, anonymity, and user-friendly interface.

  1. Electrum Wallet: This is another recommended wallet for storing VTC tokens. It is known for its simplicity and ease of use.

  2. Hardware Wallets: For added security, you can use hardware wallets like Trezor or Ledger. These are physical devices that store your private keys offline, providing an extra layer of protection.

Before choosing a wallet, it is recommended to research and compare different options to find the one that best suits your needs.

How to buy Vertcoin?

To buy Vertcoin (VTC) tokens, follow these steps:

  1. Choose a Platform: Select a reliable platform to purchase VTC, such as BitScreener, CoinCarp, BitDegree, or Changelly. Each platform offers a user-friendly interface and various payment methods.

  2. Select Payment Method: You can buy VTC using a credit or debit card, bank transfer, or other payment methods like Apple Pay, Google Pay, or local payment services like iDEAL or SEPA. Ensure the platform supports your preferred payment method.

  3. Fill in Details: Enter the required information, including the cryptocurrency you want to purchase (VTC), the fiat currency you'll use, and the amount of crypto you want to buy. Make sure to double-check your details, especially your Vertcoin wallet address.

  1. Verify Identity (if required): Some platforms may require KYC (Know Your Customer) verification to ensure secure transactions. Follow the verification process to complete your purchase.

  2. Confirm Payment: Once you've filled in the details, confirm your payment. The purchased VTC will be transferred to your crypto wallet.

  3. Check Your Wallet: Open your crypto wallet to verify that the VTC has been successfully transferred.

By following these steps, you can easily buy Vertcoin (VTC) tokens and start investing in this cryptocurrency.

Discover
Vertcoin
We give you the tools to invest your time and money in 1000+ tokens.
Subscribe

History of Vertcoin

Vertcoin (VTC) is an open-source cryptocurrency that was created in early 2014 with a focus on decentralization. It is an ASIC-resistant proof-of-work (PoW) cryptocurrency, which means it is designed to be mined using consumer-grade hardware like graphics processing units (GPUs) rather than specialized application-specific integrated circuits (ASICs) used for Bitcoin mining.

Vertcoin was initially released on January 8, 2014, and its blockchain began on January 9, 2014. The project is open-source and has a 2.5-minute block time. It was created to be decentralized and accessible to everyone, with a maximum supply of 84,000,000 coins.

In terms of its history, Vertcoin has faced some challenges. In 2018, it gained popularity due to its ease of use and ASIC resistance, but it also suffered from 51% attacks. In response, the project changed its proof-of-work algorithm to Lyra2REv3. However, it faced another 51% attack on December 1, 2019.

Despite these challenges, Vertcoin has continued to evolve. It has a dedicated community and is actively maintained by volunteers who are funded solely by donations. The project has also developed its own one-click miner, making it easy for anyone to start mining Vertcoin from their home computer.

Overall, Vertcoin's history reflects its commitment to decentralization and accessibility, and it continues to be an important player in the cryptocurrency space.

Discover
Vertcoin
We give you the tools to invest your time and money in 1000+ tokens.
Subscribe

How Vertcoin works

Vertcoin (VTC) is a decentralized cryptocurrency that operates on a proof-of-work (PoW) consensus algorithm. The core concept of Vertcoin is to keep its mining functions decentralized and accessible to everyone. Here are the key aspects of how Vertcoin works:

Mining

Vertcoin is designed to be ASIC-miner-resistant, meaning that it can only be mined using CPU and GPU computers. This approach ensures that mining is fair and accessible to individuals, rather than being dominated by large-scale ASIC miners. The Lyra2REv2 algorithm is used to maintain this ASIC resistance, making it difficult for specialized hardware to control the network.

Decentralized Nature

Vertcoin is a peer-to-peer (P2P) cryptocurrency, similar to Bitcoin and Litecoin. It does not have a central authority controlling it, and its development is funded solely by donations. The community plays a significant role in maintaining and improving the network, ensuring that it remains decentralized and fair for all users.

One-Click Miner

Vertcoin offers a unique feature called the One-Click Miner, which allows users to mine Vertcoin easily on their home computers. This feature makes mining more accessible to the general public, further reinforcing the decentralized nature of the currency.

Atomic Swap

Vertcoin also supports atomic swaps, allowing users to swap VTC with Litecoin directly in their wallets without the need for exchanges or fees.

Supply and Distribution

The maximum supply of Vertcoin is capped at 84 million, with a current circulating supply of around 66 million. The distribution of Vertcoin is fair, with no pre-mine, ICO, or airdrop. This ensures that the currency is not controlled by a single entity and that its value is determined by the market.

Security

Vertcoin has faced 51% attacks in the past, which led to changes in its proof-of-work algorithm to improve security. The community remains proactive in addressing potential threats and ensuring the long-term security of the network.

Overall, Vertcoin's focus on decentralization, accessibility, and fairness makes it an attractive option for those interested in cryptocurrency mining and investment.

Discover
Vertcoin
We give you the tools to invest your time and money in 1000+ tokens.
Subscribe

Vertcoin's strengths

The token Vertcoin (VTC) has several strengths that set it apart from other cryptocurrencies:

  1. ASIC Resistance: Vertcoin is designed to be ASIC-resistant, which means that it can be mined using standard consumer hardware, such as GPUs, rather than requiring specialized and expensive ASIC mining equipment. This makes mining more accessible and democratic, as anyone with a GPU can participate.

  2. Decentralization: Vertcoin's commitment to ASIC resistance ensures that mining power is not concentrated in the hands of a few large mining operations, maintaining a decentralized network where individual miners have a greater say.

  3. Fair Emission and Distribution: Vertcoin does not have an ICO, pre-mine, or unfair distribution of coins. Mining rewards are available to anyone with a GPU, promoting a fair and inclusive mining environment.

  1. Community Support: Vertcoin has a strong and welcoming community, with a dedicated team of volunteers who support the project and ensure its continued development.

  2. Practical Utilities: Vertcoin's blockchain is designed to be easily minable by standard consumer hardware, providing a practical use-case for converting excess energy into a globally transmittable store of value.

  3. Security: Vertcoin's decentralized nature and ASIC resistance contribute to its security, as a wider range of miners helps to maintain the integrity of the network.

These strengths make Vertcoin an attractive option for those who value decentralization, fairness, and accessibility in a cryptocurrency.

Vertcoin's risks

Vertcoin (VTC) is considered a high-risk investment due to its significant volatility. This volatility makes it essential for potential investors to have a high tolerance for risk and be in a strong financial position to afford potential losses. The risk gauge score translates to a high risk investment, indicating that the coin can be heavily manipulated by analyzing the amount of money required to shift its price over a short period, along with recent changes in volume and market cap.

Discover
Vertcoin
We give you the tools to invest your time and money in 1000+ tokens.
Subscribe

Did Vertcoin raise funds?

Discover
Vertcoin
We give you the tools to invest your time and money in 1000+ tokens.
Subscribe

Vertcoin’s team

  • James Lovejoy: The public face of Vertcoin, an undergraduate researcher at the Federal Reserve Bank of Boston, who took over the lead of the Vertcoin development team after Poramin Insom’s departure.
  • Eric: A member of the Vertcoin development team, participating in the AMA (Ask Me Anything) session on Reddit.
  • Joe: A member of the Vertcoin development team, participating in the AMA (Ask Me Anything) session on Reddit.
  • Bryan: A member of the Vertcoin development team, participating in the AMA (Ask Me Anything) session on Reddit.
  • Gert-Jaap: A member of the Vertcoin development team, participating in the AMA (Ask Me Anything) session on Reddit.
  • Poramin Insom: The founder of Vertcoin, who launched the cryptocurrency in early 2014 but left the project to focus on other cryptocurrencies like Zcoin and Satang.

Whalee AI

The fundamental analysis assistant for crypto value investors.

Vertcoin NEWS REPORT

Latest news

Want an analysis of Vertcoin? Tell us on discord.

Help us improve!
Tell us what you think of this page and which features you would like to see next.
OPEN FORM