What is Vertcoin?
Vertcoin is a digital currency that can be sent from peer to peer over the internet. Though similar to LTC and BTC, Vertcoin has one major difference; ASIC resistance. While this may seem like a minor change, it actually has much larger implications when it comes to the fair distribution, politics, and decentralization of the coin. Vertcoin stays true to the original vision of cryptocurrency: a financial system owned by its users, the people’s coin.
Why ASICs are harmful to cryptocurrency
While ASICs can more efficiently mine coins like Bitcoin and Litecoin compared to GPUs, their introduction unfortunately created a new problem. Unlike GPUs or CPUs, the every day person does not and will never own an ASIC. In fact, most Bitcoin and Litecoin mining isn’t done by it’s users at all. The majority of these machines are owned and operated by large mining companies and ASIC manufacturers, this is a problem. This creates an environment where the companies ultimately control the ASIC coins and have a vested interest to pursue profit over progress. We all witnessed the politics behind Bitcoin, Bitcoin Cash and Segwit2x. This isn’t the first time we’ve seen drama like this, and it won’t be that last. Vertcoin foresaw the issues ASICs would bring in to this space and is committed to remaining ASIC resistant. We believe everyone should have the opportunity to mine the currency, not just a select few. Now that you’re more familiar with Vertcoin, let’s get started!
To get started with Vertcoin, the first thing you need is a Wallet. Wallets are needed to store, send and receive your coins (private keys) on your computer or mobile device. If possible, we recommend you use the Vertcoin Core Wallet. When setting up your wallet you will generate a set of receiving addresses. These addresses are to be used whenever receiving VTC. Listed below are a few wallet options available.
- Vertcoin Core Wallet — https://github.com/vertcoin/vertcoin/releases/tag/v0.11.1.0
- VTC Electrum Wallet (p2pool unsupported) — https://github.com/vertcoin/electrum-vtc/releases/tag/18.104.22.168-ui
- Vertcoin web wallet (p2pool unsupported) — https://wallet.vtconline.org
Depending on where you live, the process for purchasing may be a little different. The majority of Vertcoin is purchased with bitcoin on an exchange.
Listed below are different exchanges that support Vertcoin trading.
- Bittrex — https://bittrex.com/Market/Index?MarketName=BTC-VTC
- Poloniex — https://poloniex.com/exchange#btc_vtc
- LiteBit (EUR) — https://www.litebit.eu/en/buy/vertcoin
- Bittylicious (GBP) - https://bittylicious.com/
- Jubi (CNY) -http://www.jubi.com
- YoBit -https://yobit.net/en/trade/VTC/BTC
- Bleutrade - https://bleutrade.com/exchange/VTC/BTC
Mining Vertcoin helps secure the network and process transactions but it also is a great way to generate Vertcoin for yourself. Because Vertcoin is mined using GPUs (Graphics cards), chances are, you already have what you need to get started. This is just a general overview so we won’t go into detail here, but the only things you need to get started mining are a Vertcoin wallet, a computer with a GPU, and a miner — a little program that tells your GPU what to mine.
Right now the best GPUs to use when mining Vertcoin are the NVidia 10 Series cards. We’re working on making it more profitable to use AMD cards as well.
Listed below are a few miners you can use to mine Vertcoin:
- Ccminer (Nvidia): https://github.com/tpruvot/ccminer/releases
- sgminer (AMD): https://github.com/nicehash/sgminer/releases
- VertMiner: (coming soon!)
How does Vertcoin fit into the crypto-space?
We believe Vertcoin is a better alternative to Litecoin and Bitcoin. Centralized mining has no place in the crypto-space and should not be considered the norm or acceptable. Vertcoin is positioned to break this cycle and place the power back in to the communities hands. As more people begin to realize the value of ASIC resistance, we’re starting to see an influx of interest in the coin.
To put it plainly, Vertcoin is a coin with simple principles. We aim to provide a truly decentralized currency by placing the power to mine and secure the network in the hands of everyone. No politics. No centralized ASIC farms. No bullshit. Just the coin and the community, we believe the crypto-space needs that.
Welcome to the community!
If you’re new to the Vertcoin community, welcome! You’re joining one of the best communities in the crypto-space (at least we think so). Over the past few months we’ve seen explosive growth and we don’t expect it to stop any time soon. In addition to Reddit here’s where we like to hang out come join the party!:
Medium Blog: https://medium.com/vertcoin-blog
Official Website: https://vertcoin.org/
Bitcointalk ANN: https://bitcointalk.org/index.php?topic=1828453.0