In December 2017, Vertcoin’s prize per block was reduced by half, from 50 to 25 coins. This halving takes place in order to stabilize the value of Vertcoins and is planned to take place every 4 years until all its 84,000,000 coins have been emitted. FeaturesVertcoin’s development team consists of around 10 full-time personnel that work closely with an open source community of volunteers around the world, to share information and implement changes in keeping with their core philosophy.Their main focus is to safeguard decentralized mining so as to “ensure the long-term security and fair distribution of the currency.”To this ends, Vertcoin has established what is known as the ‘Adaptive N-Factor’ to the Scrypt algorithm. What this does is determine exactly how much memory is needed to calculate the hashing functions.
The N-Factor then increases over time in order to discourage the use of specialized mining hardware and instead, encourage the wider distribution of the verification task across users’ home computers.Vertcoin is currently developing a ‘1-Click’ miner to further facilitate the mining of their coins for home users, the idea being that “building a strong network requires more miners.”The SegWit protocol, implemented by Vertcoin in May 2017 included Lighting Network technology for scalable, instant transactions. This technology moves a large portion of the burden of transactions off the blockchain for faster processing and leads to a considerable increase in the network’s capacity.Another benefit of the Lighting Network technology is something known as ‘atomic cross-chain trading’. This is, in effect, a layer that crosses blockchains and allows for the smooth, decentralized exchange of cryptocurrencies from within the Vertcoin wallet.Although some have criticized Vertcoin for their lack of a marketing strategy, for a coin with no premine, ICO or airdrop, the past year has seen an incredible 20,000% increase in value and a growing, loyal, community.
Perhaps, in the world of cryptocurrencies, it pays to have principles and stick to them.