Vertcoin
Vertcoin
Aug 31, 2018 · 6 min read

Welcome to another month. August was a mellow month for most of crypto. We have seen a decrease in lambo talk making us think the moon boys have seen their shadow. This can only predict another 6 weeks of a bear markets, but nonetheless the Vertcoin team continues to work on what we believe in.

On a more serious note — the team has decided to focus our resources on 3 main projects for the foreseeable future. This will ensure we aren’t stretched thin and the projects get completed. These projects are lit/litbox, Verthash, and Vertcoin core wallet updates. Things could undoubtedly change if we get additional team members, but at our current capacity these are what we feel as the most important projects that need to be done.

Vertcoin.org

We introduced a new streamlined website that includes a video showing new users what Vertcoin is about in simple to understand visual language. The goal of the new website was also to more effectively communicate and inform everyone about Lit and Litbox. The new design is very clean cut and to the point, much like Vertcoin. It has a great deal of information it and we hope you enjoy it. Thank you to all those who helped out natively translating the home page into 12 different languages. Moving forward, if you would like to see more of the content translated into your language let us know and we can provide the relevant text files.

Verthash

Our goal is to make Verthash the next evolution of resistance toward not only ASIC’s and FPGA’s, but miner-for-hire services such as NiceHash. The idea is to make the development of such devices and services completely fruitless on our blockchain. Our current test design is an I/O bound algorithm that will require an archival full node. Currently we are trying to build and better test it so that it supports some of our existing frame work. (e.g. support for low memory GPUs, support for SPV clients), and at the same time making the algorithm impractical for use on platforms like Nicehash.

We ask for everyone patience’s while Verthash is being worked on and developed. This isn’t something we can churn out overnight, nor would you want it that way. As we near closer to a final product we will post goals and bounties to speed things along. We have a “safe” goal of Q1 2019. Please consider donations to the general development fund to speed things along.

The Vertcoin Foundation

As some of you might know we have been in the process of establishing the Vertcoin foundation. I am happy to say that we are nearing the end of the road for this. We have submitted what seems to be the final paperwork to get Vertcoin registered as a 501(c)(3) Tax-Exempt Organization. I will update the community on any news as I receive it.


Marketing

This month we had a few vacations and some internal planning of some items we want to tackle in the 4th quarter of this year. Below is a summary of some of the initiatives that the marketing team worked on this month:

Vertbase Launch!

September 1st is a huge day for Vertcoin community. We have done something that very few projects can say. We have created a successful onboarding process for USD, EUR and soon the GBP. So lets break down what this means for you.

Vertpig — You can buy VTC, BTC, LTC, DGB with Euro and soon the GBP. This allows anyone in europe to be able to enter into crypto with ease. Want to swap your coins with ease? Try Vertpig’s swap to swap your coins! If you live in Europe, we got you covered with a single location!

People in the USA have been stuck with getting into crypto via Coinbase…until now. Vertbase is launching on September 1st and will be available to a majority of the states in the USA. We are still working on getting the licenses for all of the remaining states.

Some might ask, what is the big deal? One of the major things holding up cryptocurrencies from being adopted as a form of payment for everyday life is easy of access and point of sale systems. This whole system needs to be built out. Step 1 of this is allowing users to be able to trade their VTC for USD or EUR or GBP. Step one is almost finished. Step two, creating a point of sale system that allows merchants to accept VTC for goods and services and convert it to their currency needed to buy goods and pay employees. I know most of us want the whole world to switch over to crypto right now, but these things take time & education.

Read More: https://medium.com/@vertbase/we-introduce-vertbase-your-usd-gateway-for-vertcoin-7599c4f821d3


Vertcoin Talk

We only got one show done this month. As we wrap up the summer here in North America we will be spacing out the live broadcasts due to vacations and weekend activities. Canen might do a live stream in the middle of the week, so make sure to subscribe to our YouTube or Twitch!

Episode 9 — August Development Update!

This week on Vertcoin Talk, Canen will be going over the August Development update and unpacking all of the exciting news from last month!

Tune in on YouTube LIVE, Soundcloud, Google Podcast or iTunes for a on-demand recording of the show. You can find the latest here.


Off the Chain

Have you been following along all month with the Off The Chain series? Tons of shorter clips from previous Vertcoin Talk Podcasts that hit on important subjects surrounding Vertcoin and the crypto world.

Subscribe to our YouTube Channel to catch the latest “Off the Chain” show starting NOW!

Off The Chain Playlist

Merchant Adoption

Want to get a throwback supporter t-shirt?

Suriyaa has started a Teespring campaign. Help spread awareness for Vertcoin by buying one of the Vertcoin t-shirts. The profits will be donated to Vertcoin development. You can visit the shop by following this link: https://teespring.com/vertcoin-supporter-tee#pid=2&cid=566&sid=front

We have had amazing community input on the front of merchant adoption. Together, we are now working on laying the groundwork for our merchant focused value proposition, merchant education and merchant outreach materials. We are currently setting up a survey that should help us gain insights into why (or why not) merchants choose cryptocurrency and how we should support them. If you want to help sending it out, drop by #open_marketing on our discord.

Merchant Page: https://vertcoin.org/merchants/


Monthly KPIs (Key Performance Indicators)

No tangible growth, or loss this month. This tells us how the market is doing.

  • Reddit: members: 34,300 -0%
  • Discord: members: 9496- 0%
  • Twitter: followers: 66,100- 0%
  • Instagram: followers: 3,124- 0%
  • Facebook: followers: 9,084- 0%

VTC Development Fund

Donations for August:

Marketing & Advertising Fund +135.81 VTC

General Dev Fund +216.24 VTC

Thanks!

Expenditures:

Nothing for this month. We run a tight ship !

Coming up

  • New multi-platform Lightning based wallet incl. stealth + atomic swaps
  • Establishment of the Vertcoin Foundation( So close)
  • VertDocs
  • Verthash
  • Tacos

Links and Resources

Again we’d like to give a big thanks to all who have helped with the project so far. We love our community and have been amazed at the response to the project.

Vertcoin Blog

Vertcoin Blog

Thanks to Canen

Vertcoin

Written by

Vertcoin

Vertcoin Development Team

Vertcoin Blog

Vertcoin Blog

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