Vertcoin, also known as VTC, is an alternative cryptocurrency coin that was created by the Vertcoin team the 8th of January 2014, making it not only a new and interesting coin, but also one of the highest climbers ever. Because of it being relatively new to the market, it is difficult to predict if it will continue to be as popular as it is right now, but one thing is sure and that is that the team behind the coin did a good job before launching it. They made professional documents about the data of the coin, agreements with online stores and much more. All of this provided a great first impression of the coin and made it possible for them to make the value high and the attraction for the community good as well. The future looks bright for this new cryptocurrency altcoin, bring anonymity and decentralization just like all other cryptocurrencies.
VertCoin is taking the best from both the Litecoin and Bitcoin and has made improvements towards their coin, which they believe will make it a better cryptocurrency both short and long term and can provide a stable environment for users. It stands out by having a new and unique proof-of-work system called Scrypt-adaptive-NFactor, meaning that it will stay ahead of any ASIC miners, not allowing them to be able to mine. Litecoin is currently seeing that ASIC miners have developed special chips to be able to mine, despite it shouldn’t be possible. With this new system Vertcoin will stay on top of this always and not make it possible for any miners to use ASIC and avoid a potential mining pool having 51% of the coins, which would make it centralized instead of decentralized. Vertcoin has chosen to create a total of 84 million coins that can be mined out by the users, which is a good amount for future use for users. Each block that is mined will provide the miners with 50 Vertcoins and the difficulty of mining will re-target every 3.5 days. There has not been done any pre-mine on the Vertcoin, except for three blocks to ensure that everything worked as it should.
Transactions are based on the Litecoin system, providing almost instant transfers and transactions depending on the network. Transactions will commonly take up to 20 minutes and usually be a lot faster. The fees has yet to be disclosed to the public, so for now there are no fees if you are sending coins through the Vertcoin wallet, while exchange sites charge their normal fee for their services.
Vertcoin is currently the 17th biggest cryptocurrency in the world, based on the market capitalization which is currently at around $5.2 million and increasing every day. There has been mined 1.6 million Vertcoins at the time of this article and each coin has a value of around $3-$4, making it one of the more expensive coins to purchase. After a launch where the value went through the roof, Vertcoin has stabilized more now, but still have volatility so investors can invest and profit from the currency. You can mine Vertcoins from the wallet on their official website or you can purchase them from the larger cryptocurrency exchange sites.
Because the Vertcoin is a brand new cryptocurrency, there isn’t a whole lot of opportunities to where you can use the coins for services or goods. For now it is possible to find a list of online merchants accepting Vertcoins on their website, including a clothing store, lottery and adult toy store. There has yet to be developed any real gambling websites that accepts the coin, but we expect those to launch shortly as Vertcoin is developing their payment system.
You have the possibility to invest in Vertcoins if you are experienced in trading currencies, as the volatility is still at a high level, making it more risky but also more rewarding if you know what you are doing.