ASIC Resistant Coin - Everything You Need To Know About Vertcoin

This wonderful chain was created on January 10th, 2014.  

Vertcoin is a fork of Litecoin.

It was created from the source code of Litecoin using Scrypt-N algorithm initially until it changed to Verthash for stronger security.

Scrypt-N is a POW consensus mechanism where miners ought to mine with their conputers to validate a transaction in the blockchain.

Vertcoin uses One Click Miner, you can get a gaming PC, install it and start mining it.

Litecoin came out in 2011, created by Charlie Lee and it was created to improve transaction speed after Bitcoin.

Litecoin TS: 2.5 minute block time for 1 confirmation

Bitcoin TS: 10 minutes block time for 1 confirmation

Vertcoin TS: 2.5 minute block time for 1 confirmation

A confirmation means the transaction has been verified and added to the blockchain by the network's miners, and more confirmations mean greater security. 

Chains like Vertcoin needs up to 5 confirmations before the transaction is successful.

Bitcoin need just 1 - 3 confirmations.

This is to avoid double spending, a senerio caused by 51% attack where your funds will be reversed back to the sender's account.

The major reason for creating the Vertcoin chain is to ensure fair mining and resist ASIC miners which have more advantage than GPU miners.

ASIC Miners have more mining power than GPU miners, therefore, if ASIC is allowed to mine alongside GPU miners, it will no longer be profitable and fair for GPU Miners causing them to flee the network due to lack of profitability.

ASICs are too expensive to buy and cannot easily be acquired by a common man, to ensure that everyone is participating in the mining activity, Vertcoin modified its structure to be strictly for GPU miners only.

CORE DEVELOPERS:

These are the names of core developers.

James Lovejoy: Lead Developer

Joe Straub: Developer

Eric Kubik: Developer

Star Im: Developer and consultant

Bryan Goodson: Developer

Gert-Jaap Glasbergen: Developer

Alex Turek: Developer

Other Developers and Contributors

Adam Rivera: Former Lead Developer

Jk_14: Developer

Pknight: Developer

Daiki: Public Relations (Japan)

CryptoPlankton: Developer

Suriyaa Sundararuban: Developer and Bug Bounty Initiator

MINING REQUIREMENTS

To mine Vertcoin ($VTC), you need a GPU

You need a Vertcoin wallet to store your VTC coins.

The Vertcoin Core Wallet is a common choice, and it will generate a vert.dat file used by the mining pool.

Mining Software: Download and install mining software compatible with your hardware and operating system.

Vertcoin offers a One-Click Miner.

MINING ALGORITHMS

Scrypt-Adaptive-N: It was used until December 13, 2014 and was changed immediately after threats of ASIC miners was observed.

Lyra2RE (Original): Vertcoin's creation in 2014 aimed to allow ordinary people to mine using GPUs and prevent mining centralization by Application-Specific Integrated Circuits (ASICs).

Lyra2RE(v2): This algorithm was used for a period to make VTC resistant to ASICs, promoting GPU mining.

Lyra2RE(v3): The network adopted Lyra2RE(v3) after a February 2019 chain fork to maintain its ASIC resistance. 

Verthash: To provide a more lasting solution than frequent algorithm changes, a permanent ASIC-resistant algorithm. 

This new algorithm is designed to be similar to Ethereum's Ethash and will be minable with graphics cards. 

Bitcoin is currently using SHA-256 scrypt.

All POW coins have mining algorithms.

DOWNLOAD MINER

Watch Youtube Video on how to Install One Click Miner and Start Mining.

ZEALY REWARDS

Zealy Campaign is currently going on, this campaign is targeted towards the revival of Vertcoin.

Participants get paid in $VTC to carry out some tasks like making posts and reacting to posts related to Vertcoin.

Join Here Using The Link. https://zealy.io/cw/proofofwork/invite/2l7n7qxQ3BYMrq-OBJHVc LIQUIDITY Vertcoin on this day is selling at $0.07340 This is not a stable price

Currently available at. Centralized Exchanges:

1. CoinEx Exchange
2. FreiExchange
3. TradeOgre

Wallets:

1. Coinomi Wallet

UTILITY

Vertcoin $VTC is a decentralized digital currency designed for fairness and accessibility. 

It uses unique features to promote mining for everyone.

It is mostly used for peer to peer transaction just like;

1. Bitcoin
2. Litecoin
3. Dogecoin

.

These are coins that had;

1. No Premine
2. No ICO
3. Fair Launch
4. Open Ledger

HALVING EVENTS

Vertcoin Halving Events Comes every 4 years which is approximately after the creation of up to 840,000 blocks.

Miners are being rewarded 12.5 $VTC per 24hr for keeping their GPU Miners active.

This reward is called (Block Reward).

By December 8th, 2025.

The block reward will be slashed into half and miners will be paid 6.25 $VTC per hour.

Initial Block Reward From Jan, 2014 was 50 $VTC.

Halving  Estimated Date  Block Height Block Reward

1. December 11, 2017 840,000  25 VTC
2. December 8, 20211,680,000 12.5 VTC
3. December 20252,520,000 6.25 VTC

SOCIAL HANDLES AND CHANNELS

Website: https://vertcoin.org

Discord: https://discord.gg/ppwmv5N2Vn

Telegram: http://t.me/powfoundation

CoinMarketCap: https://coinmarketcap.com/currencies/vertcoin/

CoinMarketLeague: https://coinmarketleague.com/coin/vertcoin

Livecoinwatch: https://livecoinwatch.com/price/Vertcoin-VTC

Youtube: https://youtube.com/@Vertcoin

Reddit: https://reddit.com/r/vertcoin/

X(Formally Twitter): https://x.com/Vertcoin

VertWin: https://www.vert.win/

Vertgirls: https://www.vert.win/vertgirls

VERTCOIN EXPERIENCED 51% ATTACK Can hackers manipulate blockchain? Yes, Vertcoin experienced 51% attacks from October through December 2018. This led to a subsequent change in its proof-of-work algorithm. This type of attack allows a miner or group of miners with over half the network's computational power to potentially rewrite the blockchain and enable double-spending. Example, If there are 1000 Miners on a chain, each miner have equal computational power (hash rate). For a 51% attack to happen, one person or a group of persons need to control up to 501 of the mining power out of the 1000 mining power.

This will enable them spend and re-spend same coin by reversing already sent coins back to their wallets. This is called double spending. It's always possible when a blockchain has small hash rate. More Miners, Bigger Hash rate. That's why we are often encouraged to mine Vertcoin so that the chain can be more secured.

BITCOIN gave birth to Litecoin, Dogecoin and Vertcoin.

Vertcoin Deserves a special spot like LTC and BTC.

A post here showing the similarities and a slight difference between BTC and VTC

VERTGIRLS COMMUNITY:

Vertgirls is a section of the Vertcoin community meant for only ladies, If you are a female the door is always open to join the Vertgirls community.

It is a way of giving the ladies an exclusive position in the community on a male saturated space allowing them to either act as a Model or Use the magical powers of a Female voice to sensitize people and get rewarded.

Meet: https://x.com/SargentBaddyy/ (Vertgirls Cordinator)

Meet: https://x.com/0x_aslan/ (General Cordinator)

REFERENCE LINKS:

How Vertcoin is related to Bitcoin, Shatoshi's Vision.

Link: https://x.com/Cjjc1617Cory/status/1974706985808580774

Vertcoin is a digital commodity like Bitcoin, Litecoin and Dogecoin because they had no Pre-Mine or ICO and can be listed as ETFs under any stock exchange like (NASDAQ and NYSE)

Link: https://x.com/0x_aslan/status/1974597130795782416

Vertcoin Hashrate.

Link: https://x.com/MikeXG2/status/1971999610144174502