What Is Vertcoin?

Vertcoin is a digital currency that can be sent between people over the internet. Vertcoin (VTC) stays true to the original vision of cryptocurrency: a financial system owned by its users, the people’s coin.

Vertcoin is not controlled by large banks or mining hardware manufacturers and can be mined by anyone profitably. Fairly distributed without a premine, ICO or airdrop, Vertcoin is developed by community members working as volunteers and the project is wholly funded by donations.

A finite resource similar to gold, you can rest assured that Vertcoin will keep your money safe from vested interests and ensure that transaction fees are proportionate and shared between a large number of miners. With Vertcoin, you can truly be your own bank.

Vertcoin’s algorithm is designed to resist the development of custom mining hardware and multipool mining, ensuring that transactions are validated by a widely distributed network and avoiding the selling pressure when large mining pools indiscriminately flood the market with freshly mined coins.

Our developers have pledged 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 great news for miners because it offers the opportunity for all miners to compete fairly with each other, and not have to risk falling victim to unscrupulous hardware manufacturers who may fail to deliver pre-ordered equipment.

Specifications

WHY VERTCOIN?

DECENTRALIZED MINING

Mining should be fair & easy! We do not allow ASICs on our network. The development team is wholly committed to keeping it that way. This ensures the long term security and fair distribution of the currency.

1-CLICK VERTCOIN MINER

Building a strong network requires more miners, So we made mining easy with our our 1-Click miner. Get rewarded with Vertcoins by being a part of our network. Mine & Earn Vertcoins when you don’t use your computer. Get rewarded today!

WEB WALLET

This is a secure and easy way to send Vertcoins to friends or family. Control your own private keys. Merchants can also use this on their tablet or phone to accept Vertcoin payments without downloading any app. All you need is the internet.

ACTIVE DEVELOPERS & TEAM

Our lead developer & team are constantly working to pursue advancements in blockchain technology. We have an open-source community where we share info and implement advanced features. Our focus has always been to building a strong relationship with other blockchain developers & learn-share with others.

SEGREGATED WITNESS

Activated in May 2017. We believe this is the best options to transaction malleability. This increases Vertcoin’s block size limit and allows the implementation of the second-layer solutions for further improvement.

LIGHTNING NETWORK

The lightning network offers scalable, Instant blockchain transactions. We expect it to allow for a massive increase in the network capacity by moving the bulk of transactions off the Blockchain for quick processing.

STEALTH ADDRESSES

A previous feature which was disabled but we’re re-visiting the space to offer a great privacy feature. We take privacy seriously so our development team is testing & working on ‘Stealth Addresses’ which provides privacy on the public ledger.

ATOMIC CROSS-CHAIN

A decentralized way of exchanging your Vertcoins with another. A layer to cross both blockchains (Example: Vertcoin & Litecoin or Bitcoin) – Where you can seamlessly exchange your Vertcoin for Litecoin or Bitcoin (Or the other way around) on your wallet. This is a feature of The Lightning Network which coins on LN will be able to exchange with each other.

Getting Started With Vertcoin

Vertcoin is a multi-platform digital currency with support for Windows, Mac, and Linux.

Use our easy-to-use wallet to enable sending, receiving, and mining Vertcoin with just a few clicks.

There are two main ways to interact with Vertcoin:

1. The Wallet: For sending, receiving & storing funds.

2. Proof-of-Work Mining: Using your computing power to validate transactions on the network and get rewarded for generating new Vertcoins.

The Web Wallet is the easiest way to get started with Vertcoins.

Access our online wallet without downloading anything.

For Windows users, Wallet (64-bit ↓, 32-bit ↓) will help you get online in just a few minutes.

For Mac and Linux users, Vertcoin wallet is available (Mac ↓, Linux ↓). You can get up and running with complete step-by-step instructions.

An address is the only thing needed to send or receive funds.

It can be easily generated from any Vertcoin wallet.

Vertcoin addresses always begin with V and contain 26-36 alphanumeric characters.

After a transaction is made, funds will usually clear in less than 5 minutes.

There is a small fee to help with the upkeep of the network.

This fee is in addition to the transaction amount. E.g. a transfer of 100VTC would incur a fee of about 0.001VTC.

The Main Network Block Explorer allows users to search all the blocks and transactions on the: Vertcoin blockchain.

The term mining stands for the process of validating transactions on the Vertcoin network and keeping it secure.

In return for work, miners are rewarded with newly generated Vertcoins.

Vertcoin offers "Proof-of-Work (PoW)" method of validating transactions. Learn more about mining Vertcoin through our guide: HERE

Why Mine Vertcoin? The Vertcoin developers have pledged 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 great news for miners because it offers the opportunity for all miners to compete fairly with each other, and not have to risk falling victim to unscrupulous hardware manufacturers who may fail to deliver pre-ordered equipment.

The easiest way to purchase Vertcoin is with Bitcoin.

Once you have some coins, it can be traded for Vertcoin at these cryptocurrency exchanges:

ENGLISH MARKETS: POLONIEX / BITTREX / BLEUTRADE / YOBIT

CHINESE MARKETS: JUBI / 19800

EURO MARKETS: LITEBIT

PERSON TO PERSON TRADING: LOCAL VERTCOINS

Through decentralized processes, people with different ideas, goals, and opinions can help shape our future. Join our open-source community. You will likely have some questions, so come join our growing community, where you can connect with developers and other users, get information, ask questions, or just hang out.

How To Get A Vertcoin Wallet?

Vertcoin markets itself as being “the people’s coin,” as it is a decentralized currency that the users own. To go into more detail, this is a digital currency that you can send over the internet like other cryptocurrencies.

Vertcoin, or VTC, aims to focus on the original traits of cryptocurrency, giving users a financial system they own. There are no large banks, manufacturers, or mining hardware that control Vertcoin. Instead, anyone can mine it to make a profit.

Vertcoin was developed by community members who put in time as volunteers. To ensure its fair distribution, there is no ICO, premine, or airdrop. Instead, the entire project runs on donations and volunteer efforts.

Vertcoin is a finite resource, like gold is, and lets investors protect their money while enjoying minimal transaction fees. Vertcoin has software that can be used on Windows, Macs, or Linux as a multiplatform digital currency.

Vertcoin offers wallets to download from the official website, there used to be a web wallet but it has been discontinued due to DDOS and other issues so for now you need to download a wallet to your computer or use a wallet on an exchange such as Bittrex – we only recommend you do this if you are purchasing VTC or exchanging them as you don’t hold the private keys to your wallet on an exchange.

vertcoin coin

The wallet is available to download for Windows, Mac and Linux.

Setup the Vertcoin Wallet (Electrum, Core and Paper Wallet)

Set Up a Vertcoin Wallet on a Mac, VTC Electrum Wallet

Vertcoin Resources

How To Buy Vertcoin?

Every developer or other member of the Vertcoin team is a volunteer. Vertcoin encourages anyone with an interest to donate to the project and future projects or to volunteer their time.

The volunteers are all highly trusted and work around the clock to ensure an open-source environment. The team is passionate about programming, cryptography, building, mining, branding, and more.

The lead developers behind Vertcoin constantly strive for various advancements in technology related to the blockchain. The open-source community allows for group brainstorming and information sharing, as well as the implementation of advanced features.

The focus has been and always will be on creating a strong relationship with the other developers who use the blockchain while learning and sharing with others.

At the moment, the lead developer is James Lovejoy, who has been programming since age 10. He is an undergraduate researcher at MIT DCI, where he works on enacting a decentralized monetary policy.

Other developers have experience in various programming languages, work in fields like physics, and have worked in cryptocurrency for years, and some have even been in software engineering since 1998. Because Vertcoin is developed by volunteers, the backgrounds of the team vary greatly, but they all share a common interest.

As a cryptocurrency, you can also buy or trade for Vertcoins. The simplest method is to pay for your Vertcoins using Bitcoins. There are numerous exchanges that include VTC. English markets include Yobit, Bleutrade, Bittrex, and Poloniex. Chinese markets include Jubi and 19800, and Europeans can use Litebit.

The easiest way to buy Vertcoin with fiat currency is to purchase Ethereum or Bitcoin, Coinbase is our recommend company to do so as you can buy with Credit Card, Debit Card or Bank Transfer. Then send this over to an exchange such as Bittrex to purchase your VTC, you can then withdraw this back to your vertcoin Wallet.

vertcoin coin

This process might seem a little convoluted at the moment, this process could well become easier in the future as the space matures and atomic-swaps become possible – granting you the ability to easily swap between Bitcoin, Litecoin and Vertcoin.

Vertcoin uses the Lyra2RE(v2) algorithm, and it has 84 million generated. The block time is 2.5 minutes with 50 coins rewarded per block. The subsidy will halve every 840,000 blocks, which is about every four years. There is no premine, and the difficulty retarget time is set to retarget with every block using Kimoto’s Gravity Well.

Segregated Witness was activated in May 2017, and the developers feel that this is the top choice for transaction malleability. SegWit increases the block size limit while letting the developers implement second-layer solutions to continue to improve Vertcoin.

Vertcoin also uses the lightning network for instant blockchain transactions, which are scalable. This should provide the ability to massively increase the network capacity by simply moving most transactions off the blockchain to process quickly. Part of the lightning network development is the Atomic Cross-Chain, a decentralized method of exchanging Vertcoins with others. This lets you seamlessly exchange Vertcoins with Bitcoins or Litecoins in your wallet.

The developers are also working on stealth addresses, which was previously available but had to be temporarily disabled for work. This is one of the most important privacy features, and it gives users “Stealth Addresses” that are displayed on the public ledger instead of more personal details.

How To Earn Vertcoin?

Once you have a Vertcoin wallet, you are ready to send and receive Vertcoins. All you need is an address, which will start with a V and feature a total of 26 to 36 alphanumeric characters. The funds typically clear in less than five minutes.

There is only a very small transaction fee that helps support the network upkeep. This is incredibly small, and transferring 100VTC will only lead to a fee of around 0.001VTC.

Where To Spend Vertcoin?

Vertcoin is a useful addition to the cryptocurrency market because it allows all miners to profit. Those who develop mining hardware have ruined the profitability of mining other cryptocurrencies for the average person (without buying that expensive hardware), and Vertcoin does an excellent job of addressing this issue.

The fact that it can be used on nearly all systems and with a range of miners will allow it to appeal to a range of users while constantly expanding, likely increasing the value of Vertcoin in the future. It is also a nice change that users can participate in to any extent they want, whether with donations, programming, mining, or simply providing ideas.

Vertcoin has recently seen a large rise in price, probably due to people’s interest in ASIC-Resistant coins and the possibility of cross-chain atomic swaps between currencies such as Bitcoin, Litecoin and Vertcoin, meaning you will be able to swap these coins directly without the need for a middle-man being involved.

vertcoin coin

What Is Vertcoin Mining?

You can take advantage of proof-of-work mining. This is essentially using your system’s computing power as a way to validate the network transactions. You then are rewarded for your help generating additional Vertcoins.

Mining Vertcoin makes logical sense from a miner’s perspective, because there is no need to worry about mining hardware manufacturers taking advantage of you or using unscrupulous methods to mine; they won’t work, as mentioned above.

Before you start mining, make sure you have a Vertcoin address to send your coins to. You can download one of the official wallets, or if you are a member of an exchange which deals in Vertcoin, such as Bittrex, you can generate an an address there and mine directly to the exchange.

To get started GPU mining Vertcoin, you need to download the correct mining software for your card as follows:

Extract the files on to your hard drive, for this example we will be using CCMiner on a Windows machine.

Join a Mining Pool

The next step is to choose a mining pool to join, by using a pool as this combines your hash rate with others on the same pool and you all share the rewards. This results in more predictable earnings at regular intervals. Here is a list of mining pools you can use to mine Vertcoin:

We will use Miningpoolhub, this is a good pool which allows you to register and then you have access to lots of different coin pools. Create an account with a username and password :

vertcoin coin

Once you are signed up, visit the “Wallet” link in the sidebar and enter your wallet address and a pin number – make sure you remember this pin as you will need it to make changes to your account.

vertcoin coin

Next, visit the “Workers” link in the sidebar and create a new worker with a name and password – note these down as you will need them shortly.

vertcoin coin

The next step is to create a .BAT file, create a new document in notepad and enter the following :

ccminer-x64 -a lyra2v2 -o stratum+tcp://hub.miningpoolhub.com:20507 -u login.workername -p workerpassword

Replace login.workername with your username and worker name, replace workerpassword with your worker password you created before.

vertcoin coin

Now save this file in the same folder as your mining software with a .bat extension ( change “save as type” from text to All files ).

vertcoin coin

Now double click this BAT file and the program will then start mining. Your window should then look like this :

vertcoin coin

You can then visit the Dashboard at MiningPoolHub to see your hash rate and other information about your mining.

vertcoin coin

Latest Vertcoin News

Vertcoin shares its progress and roadmap via Trello, allowing all members of the community to stay up to date with the various projects. It has completed support for Ledger Nano s and Ledger Blue, the development fund website, an atomic swap for Litecoin and Vertcoin, and the core wallet.

At the moment, the team is working to finish developing the 1-Click Vertcoin Miner, which is currently in beta. The team is also working on a TOR Electrum Wallet along with hidden service nodes, and expanded support for Vertcoin exchanges and wallets. Other current projects include enhancing the website and developing an AMD GPU miner.

vertcoin coin

Once those projects are complete, the team will move onto re-implementing the stealth addresses and developing a Vertcoin wallet for iOS. The team will also work on Vertcore, allowing users to import the old style, and implementing more SegWit addresses.

The long-term projects include creating a mailing list and developing merchandise and other gear. Vertcoin also hopes to create Vertcoin Insight Explorer, provide support for Trezor 2, add a browser to the Wallet’s URI protocol, and develop Merkelized Abstract Syntax Trees. Vertcoin Block Reward Halving is also on the backlog, with an estimated date of Dec. 12.