Vertcoin Development Update — July 2018
Vertcoin is a bitcoin-like blockchain and doesn’t compromise on immutability of Bitcoin’s approach to blockchain, but focuses on better decentralization through forking away from ASICs, Botnets, and other threats to decentralized consensus. In addition, it focuses on lowering the barrier of entry to non-crypto-savvy users through a focus on intuitive UX design in mining and upcoming second layer scaling solutions for adoption as a means of exchange. Vertcoin is here for the long run. Below is what we accomplished in the month of July.
We’re currently researching the possibility of redeveloping the one-click miner into a multi-platform version using Go. The first concepts are promising and the GUI design that our own CryptoPlankton made looks slick.
Obviously, running the GUI on other platforms is one thing but we also need the actual mining assemblies to run on them. So we’re not quite there yet, but we’re making steps into bringing OCM to other platforms. We’re positive we’ll have more to share in the next development update.
We’re introducing a new streamlined website that includes a simple 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 11 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.
Lit and Litbox
As most of you are aware, our litbox concept is dependant a great deal on the development of lit, which is the Lightning Network implementation that’s being worked on at MIT’s Digital Currency Initiative. A lot’s been happening in lit over the past month, including the implementation of Hash Time Locked Contracts, a complex and important ingredient to building multi-hop payments and off-chain atomic swaps. This has been merged into lit’s master branch only this week — and so it’s moving along. If you want to follow the progress more closely, take a peek on lit’s github and follow the commits and pull requests over there.
The UX Design concepts we shared are still available for your review and feedback, so feel free to try out the interactive prototype here and share your feedback on it in our Discord.
Once the necessary ingredients to realize the litbox are available to us we can start the further development of the litbox and the client app we designed and bring litbox into a reality. If you feel like playing with the technology while it’s still in that “console only” mode and feel like a true nerd, head over to our discord’s #public-dev channel and there’s usually someone there that can help you play around with (l)it!
This pre-release rebased Electrum-VTC to upstream v3.2.2. Currently the MacOS version requires at least 10.13 (High Sierra).Thank you to pknight007 for his work on this! Remember to backup your wallet before upgrading. Binaries can be found here.
As we’ve announced in a couple of interviews already, the team is currently looking at a new hashing algorithm for our blockchain. We’ve named it Verthash for now. The goal of this is two-fold: on one hand, there’s new FPGA devices being developed that can outperform GPUs in efficiency on Lyra2REv2. Even though FPGAs are not ASICs, they’re still far from being a commodity that you can easily purchase in a local hardware store, like GPUs are. So we’re not comfortable with FPGAs mining our algorithm.
On the other hand, we’ve seen multiple examples of blockchains being attacked by the “attack-for-rent” platform otherwise known as Nicehash. It’s far too easy to purchase an attack that undermines the security of our blockchain, and therefore we want the algorithm to be impractical for use on platforms like Nicehash.
We’re not yet ready to share extensive details about this algorithm, since we’re still very much in an R&D phase, tweaking the parameters to be favorable to GPUs. Once we’re comfortable talking about it, it’ll probably be available for use on testnet. We want to come right off the bat with AMD and Nvidia miners for it as well, so please give us some time to do this right.
This summer is on FIRE! We are crushing it and some goals got accomplished last month. #killingit Let’s get into the details starting…..
Below is a summary of some of the initiatives that the marketing team worked on this month:
Aggressive Marketing Look
We have been working on making the look of marketing more consistent. CryptoPlankton & Spuddlenothuddle are spear heading the design aspect of our latest posters and graphics. Check out some of the latest work from our team! Come into our discord and let us know your thoughts in #open_marketing
Vertcoin’s AMD Miner Instructional Video Contest Winners!
Congrats to HyperGadgets with https://cryptoble.win/ for the Windows video
loneSilentWolf is the winner for Linux video!
We only got one show done this month. As we enter 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!
Links are at the bottom of this post.
This month on Vertcoin Talk, Canen will be going over the June Development update and unpacking all of the exciting news from last month! The segment on the Vertcoin Marketing Audit is amazing!
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
Starting this month, we will be producing smaller highlights from the Vertcoin Talks we have done in the past. We know that time is precious and most of us lack the time to listen to a hour long talk about Vertcoin and world of crypto.
Subscribe to our YouTube Channel to catch the latest “Off the Chain” show starting NOW!
How could we top June? Watch us.
Use your coin on some sweet Uber credits on https://giftoff.com/
We are looking to expand our efforts regarding merchant adoption even further. Do you want to take a more active role in Vertcoin’s development? Drop by our discord #open_marketing channel to discuss merchant adoption strategies
Over the past month, we have had numerous new merchants accept Vertcoin as a means of payment. Check out the post on our subreddit every money for the latest additions to the Merchant list. You can also check out our website below.
Merchant Page: https://vertcoin.org/merchants/
Gert & CryptoPlankton Interview
VTC’s Gert-Jaap Glasbergen and CryptoPlankton answer the TOUGH questions: When moon? When Binance? When debit card? Wait, VTC already has a debit card? We’re going to need to ask more questions…
We are highlighting some awesome comments from our community! Come to our Discord and maybe one of your quotes might be highlighted on our social sites!
“Masternodes are basically what fiat money is. The few with the most funds decides the consensus: who gets to transact, how much fresh money is printed, and who it is distributed to.”
“We don’t need central entities to reach consensus who owns what!”
“Binance raised the price so the community made their own exchanges… Vertpig being one of them, and its volume is getting better everyday.”
Latest updates on the Academy are huge!
Vertcoin Academy, as mentioned before, will feature a new doc site experience that is being built from scratch. You can see the latest updates here: https://lit-hub.firebaseapp.com/. The new doc site is almost ready for beta release. There are just a few visual and formatting elements that need to be tweaked. We want a seamless user experience among all our products — to make them look like a family just like how our community is a family.
The new doc site will include all current docs from the current doc site and Ben (B17Z) will continue to develop it out incrementally with new features as time goes along.
If you want to help contribute to the new doc site: https://github.com/b17z/lit-hub.
The other feature Vertcoin Academy will have is the Academy part of itself. In any venture, education is needed to help further the space you are in. This space is revolutionary in many different ways including how we look at economics, money, and our current instutitions all encompasing under the blockchain technology. We truly believe in a decentralized future and we can’t do it without the general populace understanding what all this means.
Academy is also being developed from scratch. Over the next couple of weeks, mockups will be worked on with a focus around user experience as well as uploading it all to Github so that anyone interested can help with its development or keep track of its progress.
Marketing awareness campaign
In July we laid the groundwork for an international guerrilla marketing awareness campaign with media agencies Go Gorilla in the United States, Kommando in the EU and Plakkit in Australia.
The awareness campaign aims to launch in the first week of October and run till December with the aim to communicate the Vertcoin vision and the project philosophy. Keep an eye out for the Vertcoin Talk with Spuddlenothuddle and Canen to discuss the details of the campaign, how it will work, why we are doing it and the funding we need to raise to achieve it
Monthly KPIs (Key Performance Indicators)
Last month a few of our social media outlets were purged to remove idle or false accounts. This month we start from scratch.
- Reddit: members: 34,300
- Discord: members: 9496
- Twitter: followers: 66,100
- Instagram: followers: 3,124
- Facebook: followers: 9,084
VTC Development Fund
Donations for July:
General Development fund + 45.69938712 VTC
Marketing Fund + 531.79657819 VTC
Windows and Linux AMD miner video bounties -100 VTC
Vertcoin intro video bounty -335 VTC
UK trademark lawyers -1960 VTC
- New multi-platform Lightning based wallet incl. stealth + atomic swaps
- Establishment of the Vertcoin Foundation( It’s getting close)
- exchange listings
- New algo
Links and Resources
- Twitter: https://twitter.com/Vertcoin
- Donations: vertcoin.org/donate
- Roadmap: https://trello.com/b/RbsKPeGw/vertcoin-roadmap
- Join our Discord: https://discord.gg/vertcoin
- Official Website: https://vertcoin.org/
- Facebook: https://www.facebook.com/vertcoin
- Instagram: https://www.instagram.com/vertcoin/
- Vertcoin Talk: https://soundcloud.com/vertcoin-talk
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. Spread the word. Pitch in.