Vertcoin (VTC) is a digital currency similar to Bitcoin and Litecoin that can be sent from peer to peer over the internet. key difference from from the BTC lies in form of its mining that is ASIC resistance .So common people with normal GPUs can be used to mine Vertcoin. This is why it is called people's coin. It claims to be the fully decentralized virtual currency that stays true to the original vision of the cryptocurrency, a financial system owned by its users, A coin for the people and by people.
The Vertcoin is designed to contain centralization of the cryptocurrency unlike what happens in Bitcoin and Litecoin. The mining of Vertcoin can be done through GPUs or CPUs which is easily accessible to every common people at a very less cost. The algorithm resists the development of custom mining hardware and multipool mining, which lets the transaction is validated by the widely distributed network thus avoiding selling pressure from large mining pools which affects the stability of the coins.
The mining operations on Bitcoin is done by the custom build Application-specific integrated circuit chips (ASICs) which are more efficient to mine Bitcoins and Litecoin. But these specially built integrated chips are expensive and cannot be used for other purposes than mining. And, the majority of these machines are owned and operated by large mining companies and ASIC manufacturers thus making the mining operation of Bitcoin and Litecoin mostly centralized. The centralized holding of the coins affects its fair price and supply.
In its blog, Vertcoin has specifically mentioned: "Vertcoin foresaw the issues ASICs would bring in to this space and is committed to remaining ASIC resistant. We believe everyone should have the opportunity to mine the currency, not just a select few."
Vertcoin was released on January 8th, 2014, via a client on Github. In the website, it is mentioned that Vertcoin is developed by community members working as volunteers and the project is crowdfunded. Since its launch, it is viewed as a potential successor to the Bitcoin, according to the International Business Times.
1. Total Supply: 84 million
2. Block Time: 2.5 minutes
3.Block Rewards: 50 coins per block
4.Subsidy halves every 840,000 blocks (~4 years)
5.Difficulty Re-Target Time: Retargets every block (Kimoto’s Gravity Well)
6. Premine: Zero
Purchasing Vertcoin depend on your location and can be purchased using different currency including EUR, GBP and CNY. On most of the exchanges, Vertcoin is purchased using Bitcoin.
1. Vertcoin Core Wallet- https://github.com/vertcoin/vertcoin/releases/tag/v0.11.1.0
2. VTC Electreum Wallet
3. Vertcoin Web Wallet
4. Bittylicious (GBP)
5. Jubi (CNY)
Vertcoin are be mined using graphics cards (GPUs) and NVidia 10 Series cards are the best suited for the operation. List of miners to use:
1. Ccminer (Nvidia): https://github.com/tpruvot/ccminer/releases
2. sgminer (AMD): https://github.com/nicehash/sgminer/releases