The coin's position in the market and the predictions of its possible rise or fall are among the most important things users consider while mining a token or choosing a token to invest in. The coin currently ranks #741 in CoinMarketCap's ranking, with a live market capitalisation of $36,191,954. VTC priceĪs of 1 December 2021, Vertcoin's price was $0.575431, and the coin's 24-hour trading volume was $331,998. Unlike other communities bringing a special emphasis to fundraising in ICOs, VTC puts its developers and community at the forefront. Vertcoin uses a different approach, with no ICO, airdrop or premiere. Its evolution has been different from other ICOs we've seen in the crypto industry, with the development process being fully dependent on donations. Founded in 2014, the project is largely volunteer-based. Not much is known about the development team behind the Vertcoin project. Unlike most PoW coins available in the crypto market today, Vertcoin remains ASIC resistant. However, unlike Bitcoin and Litecoin, VTC is fully dedicated to keeping its mining functions decentralised. VTC exists solely as a currency and uses PoW to reach distributed consensus. Similar to its predecessors, Bitcoin and Litecoin, Vertcoin is a decentralised currency owned by its users. Bitcoin's transaction blockchain uses the PoW protocol, which lets us witness the growth in Bitcoin mining. However, it never found truly useful management until Bitcoin's launch in 2009. ![]() The PoW system used by Vertcoin was first implemented for fighting spam emails in the mid-1990s. The latter is still being used to keep the Vertcoin network ASICs-resistant, so the only viable hardware for Vertcoin mining is either GPU or CPU. In August 2015, the team upgraded Lyra2RE to Lyra2REv2. In December 2014, the team finished the development of the Lyra2RE algorithm, which they used to update the core software.Īs stated in the Lyra2RE's whitepaper, the new algorithm allowed the team "to change memory usage and time cost independently, giving Vertcoin's team more leverage against ASICs". However, when ASICs specific to Scrypt-N surfaced, the VTC developers had to start from scratch. When Vertcoin started out in 2014, it used the Scrypt-N algorithm to reach its PoW consensus. This ensures the long-term security and fair distribution of the currency". The development team is wholly committed to keeping it that way. Such an approach takes us back to those good old days when all we needed to get into the mining game was a decent graphics card or your PC's processor.Īccording to the statement shared by Vertcoin's developers, "Mining should be fair and easy. Vertcoin's focal point is that it completely prohibits miners from using ASICs to mine on its blockchain. Let's check out Vertcoin's key details (as of ). Some exchanges also offer staking pools where you can mine and earn VTC as a reward. Investors interested in mining Vertcoin can buy crypto on various exchanges, including HitBTC, Bitvavo, Finexbox, CoinEx and Bittrex. The developers also make it simple for network members to participate in keeping the coin decentralised. Vertcoin is open to everyone interested in crypto and mining, and the coin's society welcomes and supports newbies. The team never stops working on making the coin resistant to ASICs. The team of developers behind Vertcoin is looking for ways to strengthen the Vertcoin network while educating users, helping them get the knowledge they need and become more literate in crypto mining. It lets you swap it with Litecoin in your wallet, with zero fees or exchanges involved. The coin has a great feature available: the atomic swap option. ![]() There is no centralised authority to control it. Its social nature attracts investors and miners, and VTC's well-being is in the hands of people. The cryptocurrency is also integrated with Lyra2REv2 technology, strengthening the network and keeping ASIC miners away from the crypto. That's why the token can be mined only on CPU and GPU computers. Vertcoin is a cryptocurrency that has already proven its worth in the crypto world and climbs higher in the rankings. This article focuses on how to mine Vertcoin on your PC and smartphone. If you're looking for a beginner-friendly, safe, and ASIC-resistant cryptocurrency, Vertcoin may be the best choice for you. While mining cryptocurrencies, users can earn crypto as a reward regardless of the countries where they live. Crypto mining is one of the hottest topics in the crypto industry and the financial sector as a whole. ![]() The crypto world continues to provide users with multiple profit-making opportunities.
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