altcoin marathon #19- Vertcoin (VTC)
VRT is a proof of work coin and mined in Lry2RE algorithm. Coin developers made it a priority to make sure VRT was ASIC resistant and made forks to revise the coin's mining algorithm to maintain decentralized mining. For instance Lry2RE was developed for VRT mining.
VRT currently is ranked ~46th in market cap and is worth ~48,800 satoshi. The max cap of coins is at 84 million and currently ~41.5 million in circulation. The coin was went public Janurary 2014. Presently VTC has a strong developer and support team, but no standout individual is identify as the creator of the coin. This maybe partly why VTC could never amass the popularity like other altcoins such as ETH, LTC, and DASH. All those had an individual that stood out as creator of their respective coin.
VTC is really focused on decentralization and convenience in performing transactions. When the coin first introduced it was considered as a future replacement to BTC. Yet as time passed VTC has become more and more compared to LTC. The comparison with LTC because of the following:
- max cap at 84 million coins
- have same block time 2.5 min
- will have capability to do lightning atomic swap.
- mined in scrypt algorithm, originally VTC was scrypt but creation of Lry2RE replaced scrypt.
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