Vertcoin is a cryptocurrency designed to address the growing problem of mining centralization. A problem seen in other cryptocurrencies such as Bitcoin. There it all started with GPU (graphics processing units) mining, but as the difficulty rose the development of new chip started to see the light of day. ASIC or application specific integrated circuit completely changed the mining landscape forever with the ability to mine bitcoins exponentially faster than ever before.
Vertcoin saw this as a flaw in the protocol and decided to develop a new algorithm. They developed an adaptive-nfactor-scrypt algorithm which is very resistant to specialized mining equipment. Basically, the N-factor, which determines the amount of memory required to compute hashing functions, will gradually increase. With its continually increasing memory requirements, it will continue to be ASIC resistant.
At this very moment Vertcoin is best mined with GPU’s, however, as the N-factor memory requirements increase, it will become more efficient to mine with CPU’s in the future. In this way the Vertcoin network will continue to be more decentralized than many of it’s predecessors.
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Services Accepting Vertcoin
Stores Accepting Vertcoin
Vertcoin Gambling & Betting Sites
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