Vertcoin is a digital currency, just like bitcoin and litecoin. But apart from them, it has certain different features. It is used to make instant international transactions or instant payments to anywhere in the world. There is a similar but misleading currency called “virtcoin” whose initial coin offering (ICO) date is/was January 1, 2018, BUT remember vertcoin and virtcoin are two different currencies. It is a hybrid cryptocurrency which is sort of an upgrade to bitcoin itself. We can say that it is another fork of bitcoin but with some value-added features.
A hybrid cryptocurrency is electronically generated that uses advanced encryption techniques for generation, transfer, and validation. Vertcoin is totally anonymous, and no personal information is collected. Total generated coins are 84M. If you want to get vertcoins you need to get their anonymous wallet, and they will drop the coins into it. Another feature of vertcoin is that you can store them on your own computer, or offline. You don’t need to store them on their website. You can download those even in the zip format.
The major tagline of vertcoin is that it preserves the original vision of digital currencies that there should be a freedom of ownership of the financial system by its users. Mining hardware manufacturers do not control its generation. Vertcoin is fully funded by donations. Many companies try to create hardware and provide multipool mining, which takes the currencies toward centralization. Vertcoin’s algorithm is highly resistant to this. It uses Lyra2RE(v2).
Here are some important features
- Decentralized mining
- 1-Click vertcoin miner
- Web Wallet
- Segregated witness (large altcoin price surge benefit)
- Really fast network, and competes with the top league (Instant transfer to bitcoin or litecoin possibility)
- Stealth Addresses which provide privacy on the public ledger
- Atomic cross-chain (check out the following tweet)
There have been swaps being done between similar currencies e.g. litecoin and decred by give vertcoins. One such example is
— Charlie Lee [LTC⚡] (@SatoshiLite) September 21, 2017
Atomic swaps between litecoin and vertcoin are still in active development (please comment if I have missed some update). Next Reward Halving will also generate a lot of interest for many people.
With non-ASIC approach there is a low barrier to entry, and I would recommend you download vertoin software and start mining as well. Since new features are highly attractive and compete with matured cryptocurrencies so its future looks promising. And you will notice that it is really a 1-Click miner.