Review on Vertcoin by Fanuel PORPORTY
Vertcoin is a network allowing peer-to-peer financial exchanges.
According to its website, "Vertcoin is a decentralized currency owned by its users", a P2P cryptocurrency in the same vein as Bitcoin and Litecoin. Like its two predecessors, Vertcoin exists only as a currency and uses proof of work to reach a distributed consensus. Unlike its two predecessors, however, Vertcoin is keen to maintain its decentralized mining functions, so that unlike most PoW coins, it is ASIC resistant.
The Vertcoin team believes that this resistance is prompting users and miners to adopt a fairer and more democratic currency. With this in mind, Vertcoin has its own “one-click” mining system, intended to make mining more accessible to the general public. The trick of Vertcoin is that it outright prevents minors from using ASIC material on its blockchain. That means Vertcoin takes us back to the days when all you needed was a good graphics card or your computer's processor to enter the mining world.
Pros
- Vertcoin “one-click” mining: While Vertcoin is the people's currency, the one-click miner is the people's mining program. 1-Click miner is such easy-to-use software that your great-aunt Gertrude could use it to mine Vertcoin. You can download the 1-Click miner from the Vertcoin website. Once you've downloaded it, you'll need to enter a wallet address for your rewards, select a mining pool to join, and indicate whether you're going to mine with a GPU or CPU. After this basic configuration, you will be able to run the miner and start earning Vertcoin.
- Implementation of Lightning Network transactions
- open-source
- Vertcoin has built an excellent team of cryptocurrency experts, many of whom have proven themselves time and time again
Cons
- the network was the victim of an attempted 51% attack.
