Vertcoin, which is also called VTC, is a P2P cryptocurrency with open source code. It was created in 2014 as an analog to Bitcoin and Litecoin — Vertcoin’s primary purpose is being a currency. Vertcoin blockchain also works on a Proof-of-Work mining algorithm. The blockchain uses a unique algorithm developed by the Vertcoin team — it is called Lyra2RE.
Like many other modern crypto projects, this one resists ASIC mining giving the advantage to accessible and affordable GPU mining. Their algorithm is supposed to help with that, adjusting the time cost and memory cost of the mining. This measure helps to obtain fair coin distribution among users. Vertcoin also has a super-light and clear mining client allowing a quick start in mining VTC with just one click. All these features are the result of Vertcoin’s philosophy: they aim at creating an affordable, easily mineable, and fair crypto. VTC had no ICO’s, premining, or airdrops. All according to the plan of creating an alternative to major coins. Vertcoin is even positioning as the ‘people’s coin’.
On the side of technical features, there are several best takes borrowed from other cryptocurrencies. For instance, Vertcoin has Bitcoin’s SegWit, Litecoins block time, and supply, a mining algorithm similar to the Ethereum’s one. These provide security, scalability, and competitive position of GPU mining. But, the project decided to make their difficulty adjustment algorithm that checks it every block once in 2.5 minutes. For the comparison, Bitcoin’s blockchain makes such adjustments once in 2 weeks.
There is not much public information about the project so far. Their website, whitepaper, and roadmap don’t reveal any names, locations or official backgrounds. There is the public history of the blockchain everyone can find, but that’s all. Vertcoin is one of the most secretive crypto projects so far.
Like many coins that started in pre-2015 Vertcoin went into a deep nosedive in when all the crypto market experienced a crisis of so-called crypto winter. From August 2014 to May 2015, there were hard times for VTC. May was the month when the all-time low was reached: at that point, the rate was $0,005343.
VTC got a new life in 2017. This was the year when many cryptos went up, so did Vertcoin: at the end of the year, the price pumped to the mark of $10. This was the all-time high for Vertcoin’s price.
The year 2019 was quite calm for the coin. VTC was trading between $0,807290 and $0,174642. The main peak occurred in June 2019, when the coin had its highest of the year. As of this writing, Vertcoin has a market cap worth $10 141 519. The amount of supply in circulation is 52 577 622 VTC, which is 62% of the total supply — 84 mln VTC. The coin is number 279 in CoinMarketCap’s cryptocurrency ranking.
One of the latest events that made an impact on the VTC’s rate was a 51% attack in December 2019. Right after it was reported, the supply went growing and outweighed the demand. In the two weeks after the attack, the price decreased from $0.25 to $0.19.
All in all, the VTC’s price seems to be mildly volatile with serious support from the community.
Many experts say that Vertcoin had the calm before the storm in 2019. The future of the coin is widely discussed on different portals and platforms. Experts mark three main positive factors that make the project an active player:
Strong technology background;
Clear and simple but yet high goals.
It can be denied that VTC is likely to pump its price within the next months or a year.
Some people make fantastic forecasts, like reaching $5 at the end of 2020. More modest analytics predict VTC to take heights between $0.4 and $1 in 2020. We generally agree with those predictions as they reflect the overall situation over the market and Vertcoin\s current position on the market. We don’t give financial advice, but we find VTC a notable option for investment in 2019 and 2020. The market intends to grow in the nearest time, and VTC will grow as well.
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