Miners are expected to leave Ethereum as the major cryptocurrency network is about to complete its blockchain software upgrading dubbed as “The Merge.” The ethereum network is about to shift from a proof of work to a proof of stake blockchain.
As miners will leave ethereum, some are looking for other coins to mine. And Vertcoin (VTC) will be one of possible coins they may consider.
For crypto enthusiasts who are looking for cryptocurrency to mine while playing their favorite online games in their personal computer or laptop, Vertcoin could be their best option.
What is Vertcoin?
Vertcoin is a digital currency that can be sent peer to peer online. The main feature of Vertcoin is ASIC resistance. This is what basically differentiates VTC to other proof of work cryptocurrency such as Bitcoin (BTC) and Litecoin (LTC).
But why ASIC resistance?
An application-specific integrated circuit (ASIC) is an integrated circuit (IC) chip customized for a particular use, rather than intended for general-purpose use like GPUs. For example, a chip especially designed to run in a digital voice recorder, or a highly efficient cryptocurrency miner is an ASIC.
ASIC makes possible to mine a specific coin faster, making the mining operation highly efficient and profitable.
But the downside of ASIC is that these requires high initial investment outlay being specialized hardware equipment. And besides, it consumes more electric power.
The solution is having a digital coin that is minable in an ordinary computer, that can be runned along side while the equipment is also being used on a daily routines. Vertcoin with its own Verthash algorithm makes it one of the profitable coins to mine on computer graphics cards with 2 GB VRAM or more.
The Vertcoin team also have developed its easy to install One Click Miner (OCM) for those not so technically inclined who desires to acquire this cryptocurrency using their computers at homes and offices.
Yesterday, Vertcoin reported that 65 million VTC are already mined. Considering the maximum supply of 84 million, this means there’s still almost 19 million VTC that remains to be mined.
VTC is ranked 709 in coinmarketcap.com with a capitalization of $17,179,082. This past 24 hours hours VTC price spiked over 11%, now trading at $0.205 as of this writing. Although its present price may not be very attractive, who knows what is in store for this bitcoin-like cryptocurrency in the future.
For those who want to learn and study more about Vertcoin, you may visit the following sites:
For ethereum miners who have not yet decided which coin to mine after “The Merge,” these web sites might help: