Price Info - www.coinmarketcap.com/currencies/vertcoin/
Vertcoin is a decentralized blockchain based currency whose motto is: “The people’s coin.” Their website states that Vertcoin stays true to the original vision of cryptocurrency: a financial system owned by its users. After this analysis, we are going to see what they do to hold that promise.
Since the project’s aim is being a currency, like most other pre-2014 coins, it markets itself as a better bitcoin alternative. The max supply is 84 million VTC, and as of today there is just over 43 million VTC circulating. There was no premine, no ICO, no airdrop, and has no total supply—simple.
The project claims that it is more centralization resistant than its competitors. Vertcoin is a mineable coin. The problem with PoW is custom and costly ASIC mining hardware. Vertcoin’s pledge is to take whatever steps are necessary to protect this coin from specialized mining equipment and make sure that it will always be possible to mine with consumer grade hardware. This is very important because, if the verification of blocks is distributed to as many individuals as possible, the project becomes more decentralized.
VTC is ASIC resistant, but not by its technology: it is the commitment of the team to change the algorithm if someone does make an ASIC to mine Vertcoin. This is the core basis of their marketing strategy. Since ASIC development is very costly, it is doubted people will try creating one for Vertcoin.
In order to attract new miners and (more importantly) inexperienced miners, Vertcoin came up with software which allows you to just type in your wallet address and start mining. They call it “One-Click-Miner.” This is a big step towards decentralization. This makes it easy for those who have always wanted to try mining.
In addition to these, Vertcoin has activated SegWit successfully. This soft fork eased the path to Lightning Network (which increases network capacity by moving the bulk of transactions off the Blockchain) and atomic cross-chain swaps. This means that you won’t require a third party with atomic cross-chain swaps; two people on different two different blockchains will be able to exchange coins without a third party.
Vertcoin already has a privacy aimed Tor wallet. The team is also working on “stealth addresses,” which they implemented in 2014 but discontinued. According to their roadmap, re-implementation of stealth addresses is upcoming. You can also store your Vertcoins on LedgerHQ hardware wallet for extra security.
Vertcoin’s top 100 richest has 53% of the circulating supply; this percentage was 57% only 2 months ago. We can say this is a fair amount.
Bitcoin is vertcoin project’s largest competitor. Being more flexible is Vertcoin’s biggest advantage. If Vertcoin can keep the promise of being ASIC resistant, there is always going to be a market for them. Other big competitors include Litecoin and BitcoinCash.
Every developer and other members of the Vertcoin team is a volunteer. This might be a little risky for the long term because of commitment issues. The lead developer of the team is James Lovejoy. The project has 10 developers and also gets support from their community - which are all volunteers. Because Vertcoin is developed by volunteers, the backgrounds of the team vary greatly.
The p2pool network by default pays out a 1% donation to the development fund (you can turn it off, however). The development fund is well documented. Their Github is very active—there are 101 people watching the project and they have 272 stars.
The biggest issue with Vertcoin is its development; there aren’t any full time employees and in the absence of this, there is no foundation behind them (like the Litecoin Foundation). Most of the work done for Vertcoin comes from people contributing their spare time, free of charge.
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