The Vertcoin cryptocurrency has managed from its appearance on the cryptocurrency market to make a fuss among crypto traders and investors. Such interest in this crypto asset is due to the initial rise in price quotations. It is evidence of the prospects of this coin in terms of investment and crypto-mining for subsequent profit.
A bit of history
The development of this site began in January 2014 with the posting of a video on the popular video hosting GitHub. Initially, the developers of this coin, in the process of writing its program code, positioned their offspring as an alternative to the largest cryptocurrencies in the face of Bitcoin, Litecoin, and Ethereum. To achieve this goal, the team of programmers took the best solutions from other popular coins. They also tried to eliminate the most serious disadvantages inherent in crypto coins.
The authors of the Vertcoin coin did not like the state of affairs in the field of mining Bitcoins, Litecoins, and other altcoins. Due to the filling of the market with ASIC devices, the mining of crypt using the computing power of video cards has become unprofitable for users. True, this factor was not the most critical. Many observers and specialists of the cryptocurrency market began to note that the general trend of crypto development and the introduction of new technical solutions to improve its operation may lead to the decentralization of the crypto network and the beginning of its regulation by specific individuals or special bodies.
Therefore, the Vertcoin crypto project was created as an alternative crypto network, where the possibility of using ASIK devices for the extraction of digital assets was excluded. Also, the crypto network is distinguished by a different structure of decentralization. It guarantees the impossibility of interfering with the work of the site not only by third parties but also by its creators.
Over several years of the existence of the crypto coin, its authors managed to implement more than one chance in the algorithm for protecting the crypto network from ASIK miners. When trying to connect to the crypto network through such mining systems, they were automatically blocked or destroyed. A similar principle of protection of the VTC coin is still used by its authors. Therefore, for mining this coin, including through the VTC mining pool, only the computing power of video cards can be used.
Features and characteristics
Special software algorithms used to ensure the normal functioning of the Vertcoin crypto network make it possible to fully implement a simple and understandable VTC mining for most users. This feature of the crypto coin is key to gaining popularity among users. It allows even inexperienced users who are not versed in the specifics and technology of crypto mining to mine the Vertcoin digital asset in one click.
Also, the crypto network received an update in the form of the implementation of the improved SegWit software protocol. It solved the problem of the scalability of the crypto network and increased the size of the crypto block. All this made it possible to fully implement the principle of multilayer crypto-network and ensure its further technical development to introduce more advanced technological solutions.
The Vertcoin coin differs from its competitors in some technical and conceptual features, which helps it stand out in the market and attract more and more users and investors. For this reason, it is not surprising that the outlook for the VTC cryptocurrency, according to many analysts, is seen as positive.
Advantages of Vertcoin
When studying the information presented on the official website of the project, a number of the following positive features of the Vertcoin coin can be distinguished:
- full decentralization of the crypto network, which guarantees fair mining;
- the availability of mining, which makes it possible to mine this crypto asset using an ordinary personal computer;
- availability of our digital wallet for storing crypto, characterized by high security and stability indicators, as well as the ability to work on mobile devices and computers running Windows and Linux;
- high activity of the development team and the presence of communication between the creators of the coin and the participants of the crypto network;
- the ability to mine a coin through a cryptocurrency pool, which makes the mining process faster and cheaper, especially for owners of weak PCs;
- use of the advanced SegWit software algorithm;
- implementation of Lighting Network technology;
- the presence of Atomic cross-chain, which is an atomic cross-chain that provides the ability to directly convert Vertcoin to Litecoin or Bitcoin bypassing cryptocurrency exchanges, which makes the crypto exchange process faster and cheaper.
The high level of volatility of the exchange rate quotes of the Vertcoin coin is due to the information about the beginning of official cooperation between Vertcoin and the creators of the Litecoin coin as part of the Atomic cross-chain technology implementation process. Therefore, the VTC can be an excellent investment tool for fans of quick money.
Disadvantages of Vertcoin
The main disadvantages of this crypto coin include:
- lack of funding, which is due to the lack of necessary financial resources and doubts about the prospects of the project on the part of large investors;
- the presence of competition from other similar projects offering similar functionality;
- subsidence of the entire cryptocurrency market, which hurts the exchange rate indicators of the VTC coin;
- falling interest in small cryptocurrency projects on the part of market participants, which is explained by the fall in the value of the main crypto assets;
- the possibility of soon implementing legislative changes related to the regulation of the crypto market.
Even with a cursory study of the shortcomings of the VTC, it becomes clear that this asset has negative characteristics traditional for such digital money.
