Vertcoin VTC to MediBloc MED Exchange

Crypto Pair Details: VTC to MED

Vertcoin VTC

Vertcoin is a decentralized currency owned by its users, a P2P cryptocurrency in the same vein as Bitcoin and Litecoin. Like its two predecessors, Vertcoin exists solely as a currency, and it uses proof of work to reach distributed consensus. Unlike its two predecessors, however, Vertcoin is dedicated to keeping its mining functions decentralized, so contrary to most PoW coins, it’s ASIC resistant. Branding their project as “The people’s coin,” Vertcoin’s team believes that ASIC resistance invites a fairer, more democratized currency for both users and miners. Along these lines, Vertcoin sports its very own 1-click miner, a program meant to make mining more accessible to the general public. The motivation of Vertcoin was the fact that Scrypt-based ASIC mining chip that is used to mine Scrypt derivative coins such as Litecoin and Dogecoin is entering the mass market. That coupled with strong mining pool causes the strength of a cryptocoin to drop as it becomes easier for a specific party to pull a 51% attack and even monopolize the network. Scrypt-Adaptive-Nfactor was created to address that issue. Vertcoin is zero premined and as of the current design, only 84 million coins would ever be created. Vertcoin is said to be the next generation of coins due to its unique hashing algorithm. There may be more altcoins created based on this hashing algorithm in order to defend their network against ASIC miners. Like most all pre-2015 coins, Vertcoin took a deathblow after Mt. Gox was hacked, throwing the entire market into a crypto winter. As such, it was relatively inactive until the revival last spring/summer. Since then, it has had steady climb up the market cap ladder. A 2014 International Business Times article mentions Vertcoin as a potential Bitcoin successor. The article notes that it ''hopes to offer an alternative. By taking the foundations of Bitcoin and making some adjustments, Vertcoin punishes miners who use powerful machines and work together in 'pools' to monopolise the mining market.'' On July 1, 2014, Vertcoin released a wallet supporting Stealth Address transactions. On December 13, 2014 (block 208301), Vertcoin forked from Scrypt-Adaptive-N proof-of-work function to Lyra2RE as a proactive defense against emerging Scrypt-Adaptive-N capable ASICs. On August 10, 2015 (block 347000), Vertcoin forked from Lyra2RE to Lyra2REv2 because a botnet was controlling more than 50% of the hashing power of Vertcoin network. On May 7, 2017, Segregated Witness (SegWit) feature was activated in the main network. SegWit update includes the Lightning Network technology that was also demonstrated in action during the same day.'

MediBloc MED

Med Chain aims to create a new trading lifestyle of C2M through the decentralization, non-tamperable and traceability of blockchain, combined with the actual situation of the e-commerce industry, reducing the transaction cost of consumers and improving the production efficiency of manufacturers. Globalized peer-to-peer trading is integrated into every aspect of life, and everyone can trade and everything can be traded. Peer-to-peer trading lifestyle: Med Chain expects to popularize C2M trading models into people's daily lives through blockchain technology, open up trust barriers between consumers and manufacturers, reduce trust costs, and achieve peer-to-peer customized e-commerce transactions. Global e-commerce bottom-level public chain: Med Chain expects to use POS and DPOS consensus mechanism to establish a global e-commerce transaction public chain, establish a transaction credit system based on blockchain technology, product copyright traceability system, intelligent payment system, and transaction after-sales arbitration system. The open data system is open to global developers, allowing blockchain technology to serve all walks of life in e-commerce.

SOURCE: COINGECKO

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