Vertcoin Calling itself 'the people’s coin,' Vertcoin is a decentralized digital asset uniquely controlled by its users, distinguishing itself from other cryptocurrencies. At its core, Vertcoin shares the foundational ethos of crypto, empowering individuals with a monetary format they govern without the interference of significant banks or specialist hardware manufacturers. Unlike centralized coins, anyone can engage in mining VTC to earn profits.
Birthed from a passionate community of volunteers, Vertcoin has maintained fairness without an ICO, premine, or airdrop, relying instead on donations and voluntary involvement. With its scarcity akin to gold, Vertcoin represents a dependable investment shielded by low transaction costs. Users can access this multi-platform currency on Windows, Mac, and Linux.
Who Is Behind Vertcoin?
Every developer or other member of the Vertcoin team Everyone involved in Vertcoin is a volunteer. The project thrives on individuals willing to donate time or resources to drive current and future developments. Vertcoin's team, blessed with a devoted and dedicated workforce, champions open-source principles, embracing cryptography, programming, mining, branding, and more.
The brainchild of Vertcoin's tech innovations is an open-source community where collaborators share knowledge and integrate cutting-edge functionalities. By engaging with blockchain and building lasting bonds with fellow developers, the team emphasizes advancement and cooperation.
Leading the team is James Lovejoy, a programming prodigy since age 10 and an undergraduate researcher at MIT DCI. His interests focus on crafting a decentralized monetary policy. Other team members bring rich experiences, with backgrounds spanning programming, cryptography, and even physics, with some contributing to the scene since 1998. Despite varied personal stories, a shared passion for Vertcoin unites them.
Why Is Vertcoin Decentralized?
Designed as a fortress against centralization, Vertcoin incorporates algorithms thwarting exclusive mining hardware—ensuring a truly decentralized system where the network validates every transaction globally. This approach curbs market floods often spurred by large mining pool activities. known as ASICs To protect Vertcoin from commercial mining equipment monopolization, creators ensure mining can be executed using consumer-grade technology. Such measures foster fair competition, free of the underhanded tactics often associated with professional hardware producers.
Previously existing as a web wallet, certain factors like DDOS necessitated its discontinuation. Users now must opt for locally downloaded wallets or, if acquiring VTC, consider exchange-hosted wallets like Bittrex, bearing in mind they don’t hold private keys on exchanges.
Vertcoin Wallets
Vertcoin offers wallets to download from the official website You can download the Vertcoin wallet for Windows, Mac, and Linux.
After securing a Vertcoin wallet, sending and receiving VTC becomes straightforward—requiring just an address beginning with V that has 26 to 36 alphanumeric characters. Clearing transactions takes under five minutes and costs a nominal fee—sending 100VTC could cost as little as 0.001VTC.
How Do You Send or Receive Vertcoins?
Besides direct transactions, Vertcoin can be bought or traded through exchanges. The simplest gateway is via Bitcoin, with several platforms like Yobit, Bleutrade, Bittrex, and Poloniex offering exchanges across different markets.
How to Buy Vertcoin
The bridge for purchasing Vertcoin with fiat lies in acquiring Ethereum or Bitcoin first; subsequent transfer to purchase VTC ensures retrieval to your wallet.
Though the current process might seem cumbersome, future improvements with atomic-swaps could simplify transitions between Bitcoin, Litecoin, and Vertcoin. Coinbase Utilizing the Lyra2RE(v2) algorithm, Vertcoin caps at 84 million coins. Blocks are mined roughly every 2.5 minutes, with 50 coins per block. Smaller subsidies occur every 840,000 blocks, or roughly every four years, employing Kimoto's Gravity Well for dynamic difficulty adjustments. an exchange such as Bittrex Segregated Witness (SegWit), activated in May 2017, optimizes transaction handling and block size, while enabling secondary enhancements.
For lightning-fast transactions, Vertcoin employs the Lightning Network, promoting off-blockchain processes for greater scalability. Atomic Cross-Chain within this network facilitates seamless Vertcoin exchanges with Bitcoin or Litecoin.
What Are the Specs of Vertcoin?
Efforts are underway to reinstate stealth addresses, a feature key to user privacy once withdrawn temporally. It replaces personal details with generic 'Stealth Addresses' visible on the public ledger.
Get involved in proof-of-work mining, leveraging your system to authenticate transactions for Vertcoin, creating a steady earning opportunity without worrying about hardware giants exploiting or misleading miners.
Before mining, ensure you have a Vertcoin address. Users can
select from official wallets
How To Mine Vertcoin?
or join an eligible exchange like Bittrex to get an address tailored for direct mining.
Starting GPU mining involves downloading suited software based on your hardware: Extract the contents to your hard drive, using this guide based on CCMiner for Windows. Find a mining pool to join, pooling collective resources for consistent earnings. Pools amplify hash rates across contributors, leading to shared rewards. Noted pools offer varied coin mining possibilities upon registration. Set up an account with a username and password:
On the pool dashboard, enter wallet details and a pin to modify account settings.
- AMD Cards – SGMiner Download
- Nvidia Cards – CCMiner Download
For mining workers, create entries under 'Workers' with unique identifiers noted for access.
Join a Mining Pool
Draft a .BAT file using Notepad with these instructions:
- Dev-run p2pool nodehttp://pool.vtconline.org
- Give Me Coinshttp://give-me-coins.com/vertcoin-pool
- Mining Pool Hubhttps://vertcoin.miningpoolhub.com/
- Coinotronhttps://www.coinotron.com/app?action=ChartNoLogon&span=0&type=C&name=VTC
- List of p2pool nodeshttps://bitmakler.net/mining_VertCoin-VTC__pools
- Always Hashing p2poolhttp://vtc.alwayshashing.com:9171/static/
- ZPoolhttps://www.zpool.ca
We will use Miningpoolhub ccminer-x64 -a lyra2v2 -o stratum+tcp://hub.miningpoolhub.com:20507 -u login.workername -p workerpassword
Switch login.workername and workerpassword with your credentials from setup.
Store the finished file where your miner software is located, ensuring to save it as a .bat file by selecting 'All files' instead of 'Text'.
A double-click will launch the mining program, visually confirming operation and hash rates and other miner data.
Vertcoin reveals its progress and future plans via Trello
encouraging community engagement with milestones like Ledger support and atomic swaps. The impending updates include a 1-Click Miner, TOR Electrum integrations, and enhanced exchange accessibility.
Completing these paves the way for stealth address reimplementation and debuting an iOS Vertcoin wallet alongside segmented SegWit wallets and Vertcore updates from legacy formats.
Long-term strategies entail merchandise creation, Trezor 2 support, browser wallet enhancements, and Merkelized Abstract Syntax Trees, along with upcoming block halving projected for December 12.
You can then visit the Dashboard at MiningPoolHub A Beginner's Handbook to Understanding Vertcoin (VTC): Insights, Assessment, and Mining Techniques
What Are Future Plans for Vertcoin?
Vertcoin Discover Our Comprehensive Beginner's Guide on Vertcoin (VTC): Insights, Evaluation, Buying Vertcoin, and Beginner-Friendly Mining Tips Describing itself as “the people’s coin,” Vertcoin is a decentralized, user-owned cryptocurrency, allowing internet-based transactions similar to other digital currencies. Vertcoin focuses on keeping the true essence of cryptocurrency alive, granting users full control over their finances. There are no big corporations, no dominant manufacturers, or exclusive mining gear monopolizing Vertcoin; rather, it’s designed for anyone keen to earn through mining.
What sets Vertcoin apart is that it was envisioned by community volunteers contributing their time without the influence of corporate funding, ICOs, or airdrops. This project thrives solely on donations and the dedication of volunteers. Like a rare commodity, Vertcoin provides investors a chance to secure their funds, all while enjoying low transaction fees. Adaptable across Windows, Macs, or Linux, it positions itself as a versatile digital currency.
Being part of Vertcoin’s journey is open to everyone, inviting those interested to volunteer their efforts or donate to future endeavors. The dedicated volunteers maintain a trusted and diligent open-source ecosystem, united by a zeal for programming, cryptography, building, mining, and more.
The team leading Vertcoin is deeply engaged in fostering technological evolution within the blockchain sphere. By encouraging a collaborative atmosphere, the community thrives on knowledge exchange and the actualization of innovative features, forging robust ties among fellow blockchain developers.
Conclusion
At the helm is James Lovejoy, whose coding journey began at age ten and who now serves as an MIT DCI undergraduate researcher focused on decentralized monetary policies. Each developer complements the team with a diverse skill set ranging from physics to cryptocurrency expertise, united by a shared passion for Vertcoin’s growth.
Vertcoin’s core attribute lies in its resistance to centralization, achieved by an underlying algorithm that inhibits the creation of specialized mining equipment with custom chips.
This architecture guarantees validation of every transaction through a widespread networking community. It effectively curtails any market inundation that can occur when large mining pools release masses of new coins together. cross-chain atomic swaps To ensure the fair play of mining, Vertcoin’s developers labor to maintain mining accessibility by forbidding specialized hardware. This provides equitable mining chances for everyone using consumer-grade tools, without fear of trickery from mining hardware manufacturers.
15Comments
After purchasing, the newly acquired VTC can be moved to your Vertcoin wallet for secure holding.
Hey, Thanks.
Though the purchasing steps might appear complicated, industry progress and innovations like atomic swaps could soon simplify the process, facilitating straightforward exchanges between Bitcoin, Litecoin, and Vertcoin.
Vertcoin operates on the Lyra2RE(v2) algorithm, projecting 84 million coins over its lifespan. Every 2.5 minutes, a new block emerges with a 50 VTC reward. No premine exists, but difficulty retargeting dynamically adjusts per block through Kimoto’s Gravity Well.
In May 2017, the implementation of Segregated Witness (SegWit) was finalized to address transaction malleability, expanding block size capacity and embedding second-layer solutions to propel Vertcoin onward.
Thank you in advance!
With the integration of the lightning network, Vertcoin supports instantaneous, scalable blockchain transactions, enhancing network capacity by offloading the majority of transactions, allowing for swift processing. Atomic Cross-Chain Trading within this network offers seamless exchanges between Vertcoins, Bitcoins, and Litecoins.
The development team is revisiting the stealth address option, previously disabled for refinement, a feature critical for user privacy that substitutes typical ledger entries with discreet “Stealth Addresses.”
‘
[02 12:41:08] NVML GPU monitoring enabled.
[2017-12-02 12:41:08] NVAPI GPU monitoring enabled.
Engage in proof-of-work mining by deploying your computer's processing power to authenticate network transactions, earning Vertcoins as a reward. This transparent mining structure evades manipulative practices by equipment manufacturers.
[2017-12-02 12:41:08] Stratum difficulty set to 64 (0.25000)
[2017-12-02 12:41:08] lyra2v2 block 834729, diff 122222.589
[2017-12-02 12:41:09] GPU #0: Intensity set to 20, 1048576 cuda threads
[2017-12-02 12:41:10] API bind to port 4068 failed – using port 4069
[2017-12-02 12:41:12] GPU #0: ASUS GTX 1070, 39.04 MH/s
[2017-12-02 12:41:12] accepted: 0/1 (diff 0.394), 39.04 MH/s booooo
[2017-12-02 12:41:21] GPU #0: ASUS GTX 1070, 39.67 MH/s
[2017-12-02 12:41:21] accepted: 0/2 (diff 0.357), 39.67 MH/s booooo
[2017-12-02 12:42:01] GPU #0: 2096 MHz 248.95 kH/W 159W 44C FAN 39%
[2017-12-02 12:42:18] GPU #0: ASUS GTX 1070, 39.57 MH/s
[2017-12-02 12:42:18] accepted: 0/3 (diff 1.300), 39.62 MH/s booooo
[2017-12-02 12:42:28] Stratum difficulty set to 32 (0.12500)
[2017-12-02 12:42:29] GPU #0: ASUS GTX 1070, 38.89 MH/s
[2017-12-02 12:42:29] accepted: 0/4 (diff 0.150), 39.38 MH/s booooo
@Lostchild
Prepare for mining by securing a Vertcoin address. Either download an official wallet or generate an address through an exchange like Bittrex for direct mining output delivery.
@Mane
Tried for about 4h with 49MH/s (on the software windows) and did not get any share. Totally wasted resources… Do you have any suggestions?
Begin GPU mining by procuring the correct software for your graphics card.
In this example, we’ll look at operating CCMiner on a Windows platform by first extracting the necessary files to your hard drive.
Choose a mining pool and combine your hash rate with others for consistent and reliable earnings. Here, consider joining a pool offering multiple coin mining options.
Thanks,
Upon joining, create an account with a Username and Password, then visit the “Wallet” tab to input your wallet address and assign a PIN.
Navigate to the “Workers” section to register a new worker, then note down the worker credentials for future use.
Develop a .BAT file by using Notepad to draft the following line:
ccminer-x64 -a lyra2v2 -o stratum+tcp://hub.miningpoolhub.com:20507 -u login.workername -p workerpassword
Hi,
is it possible to mine with CPU solo mode?
Regards,
Daniel
Hello,
Substitute 'login.workername' and 'workerpassword' with your distinct username and password from registration.
thanks,
PK
Save this file alongside your mining tool, assigning it a .bat extension to switch from a textual to functional file.
Double-click the saved BAT file to initiate mining. Observe the interface for hash rate metrics and related mining data.
The community transparently shares updates and plans on Trello, informing members about accomplished goals like Ledger Nano S support, atomic swaps, and essential wallet enhancements.
Current initiatives include finalizing the 1-Click Vertcoin Miner beta, developing a TOR Electrum Wallet, facilitating hidden service nodes, and broadening exchange support alongside wallet interactions. Simultaneously, website improvements and an AMD GPU miner are being undertaken.
Check it out here –> https://shirtspice.com/collections/cryptocurrency-t-shirts/products/vertcoin-boom-to-the-moon-shirt
Future ventures aim to re-activate stealth addresses, innovate an iOS-compatible Vertcoin wallet, and integrate more SegWit addresses through Vertcore. Users will gain ease importing existing formats.
Long-term objectives include launching a mailing list, producing merchandise, and developing functionally advanced tools like the Vertcoin Insight Explorer. Trezor 2 compatibility, URI protocol enhancements, and Merkelized Abstract Syntax Tree developments are planned, with an anticipated block reward halving around December 12.
Great post, Oliver!
A New Player's Handbook: Discovering Everything about Vertcoin (VTC), Including Insights, Evaluation, and Mining Techniques
Dive into our Comprehensive Guide tailored for Novices on Vertcoin (VTC) covering Detailed Information, Insights, How to Acquire Vertcoin, and Mastering the Art of Mining it Right from Your Personal Computer.