Review on Viacoin by David Olayide

Name: Viacoin
Item: Viacoin
Rating: 4

May 05, 2021

Viacoin Cryptocurrency

Today there are many cryptocurrencies and affiliated projects that were intentionally built to stand up to existing cryptocurrencies and probably even best them at their own game. Looking closer at the projects you will find out that they have better transaction speeds as well as Security. The first notable cryptocurrency to be designed ever, was Bitcoin and the digital currency had since experienced a very explosive growth. This can be seen majorly as a positive thing, but then it also appears to be a problem. 

Because of the large nature of the network and it’s continual expansion, it had become increasingly difficult to use Bitcoin for transactions because if it’s poor scalability features. Then again, the transaction speed is much slower than newer cryptocurrencies too.  So we have better adapted projects such as Viacoin. Viacoin is a proof-of-work cryptocurrency, built in 2014 by a Bitcoin Core developer. 

Now it is true that other coins are not as popular and influential like Bitcoin, but then Viacoin transactions are faster and happen to be confirmed every 24 seconds, which is way much faster when you compare it to popular cryptocurrencies like Bitcoin which takes up to 10 minutes, and even Litecoin at 2.5 minutes. So there you have it. You can actually see that Viacoin is built for fast and secure transactions. 

Most cryptocurrencies have long confirmation times, high transaction fees and sadly do not offer a user friendly experience but Viacoin aims to do the opposite and perhaps even more. I think by having more simple payment systems that are very user friendly as well as easy to use, the financial economy stands to benefit a great deal.

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