The main difference inbetween Bitcoin and Vertcoin is the latter’s resistance to centralized mining and the long term promise of Vertcoin developers to keep it that way.

Vertcoin (VTC) [Two] is a peer-to-peer cryptocurrency and software project. [Two] It is a Bitcoin-like blockchain currency with extra features such spil Stealth Address technology and ASIC resistant Proof-of-work (PoW) function. The main difference inbetween Bitcoin and Vertcoin is the latter’s resistance to centralized mining and the long term promise of Vertcoin developers to keep it that way. Vertcoin has already forked two times to a fresh PoW function because of a veritable threat of centralized mining. [Three] [Four] [Five] The Vertcoin cryptocurrency wallet can be downloaded from Vertcoin’s official webstek. [6]

Contents

Vertcoin wasgoed released via a client on GitHub on January 8, 2014. [1]

A 2014 International Business Times article mentions Vertcoin spil a potential Bitcoin successor. [7] The article notes that it “hopes to opoffering an alternative. By taking the foundations of Bitcoin and making some adjustments, Vertcoin penalizes miners who use powerful machines and work together ter ‘pools’ to monopolise the mining market.” [7]

On July 1, 2014, Vertcoin released a wallet supporting Stealth Address transactions. [8]

On December 13, 2014 (block 208301), Vertcoin forked from Scrypt-Adaptive-N proof-of-work function to Lyra2RE spil a proactive defense against emerging Scrypt-Adaptive-N capable ASICs.

On August Ten, 2015 (block 347000), Vertcoin forked from Lyra2RE to Lyra2REv2 because a botnet wasgoed controlling more than 50% of the hashing power of Vertcoin network. [Four]

On May 7, 2018, Segregated Witness (SegWit) feature wasgoed activated ter the main network. SegWit update includes the Lightning Network technology that wasgoed also demonstrated te activity during the same day. [9]

On December 12, 2018 (block 840,000) Vertcoin prize vanaf block wasgoed automatically cut ter half (from 50 to 25 Vertcoins) spil scheduled by the original protocol.

Vertcoin is an alternative version of Bitcoin using Lyra2REv2 spil a proof-of-work algorithm. Payments te the Vertcoin network are made to addresses, which are based on digital signatures. They are strings of 33 numbers and letters which always start with the letterteken V. [Ten]

Vertcoin introduced what is known spil “Adaptive N Factor” to the Scrypt algorithm. The N factor component of Scrypt determines how much memory is required to compute the hashing functions. Vertcoin’s N factor increases with time to discourage the development of dedicated ‘mining’ hardware and encourage the distribution of the verification task across individual users’ PCs. [11]

Spil a countermeasure to emerging Scrypt-Adaptive-N capable ASICs ter late 2014, Vertcoin introduced a novel proof-of-work function called Lyra2RE, [12] a NIST5 based chained algorithm with customizable parameters. The original Lyra2RE consisted of a chain of BLAKE, Keccak, Lyra2, [13] Skein and Grostl hash functions. Ter 2015, the algorithm wasgoed modified by Vertcoin developers to favor GPU miners because of a single (assumingly CPU based) botnet controlling a majority of the network’s hash power. The current version (Lyra2REv2) of the algorithm consists of the following hash functions: BLAKE, Keccak, CubeHash, Lyra2, [13] Skein and Blue Midnight Wish. [14]

Discouraging centralization of the verification task avoids a single entity exercising control overheen the blockchain ledger, otherwise known spil a “51% attack.”

Cryptocurrencies have the capability to merge mine with another cryptocurrency, meaning a miner is able to mine for more than one blockchain at the same time. The benefit is that every “hash” that a miner submits contributes to the total hash rate of both currencies, and spil a result, they both become more secure.

There is at least one active cryptocurrency, Unitus (UIS), that is presently merge-mineable with Vertcoin.

Related movie: Hashocean أفضل موقع للربح من الإستثمار في تعدين البيتكوين


Leave a Reply