Vertcoin VTC to Qubitica QBIT Exchange

Crypto Pair Details: VTC to QBIT

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.'

Qubitica QBIT

QUBITICA is a community of more than 1000 developers, IT companies and investors from over 20 nations who want to work together to advance blockchain technology. This community has developed the QUBITICA infrastructure and since May 2018 it has been working on new projects under the associated brands and websites. Subcontracting is organized within the community. This requires the holding of QBIT, the paticipation shares in QUBITICA and all related projects. A long-term goal of QUBITICA is the development of project-related Smart Contract Solutions. These projects are treated as independent tasks and subprojects advertised individually. This allows us to achieve a flexible pipeline adapted to the needs of the market. The general developments in Blockchain will grow disproportionately, which is why it is the right time to find an intelligent solution to accomplish these tasks. What sets QUBITICA apart from an IT company operating in this field? QUBITICA is not an IT company, but an association of like-minded developers, IT companies and investors. IT projects will be handled under future brands and websites, and QUBITICA will be responsible for exchanging ideas, prioritizing projects and managing the shares in QUBITICA. QUBITICA's QBIT is an ERC-20 token that honors achievements. This honor is also comparable to shares. Developers receive QBIT for the implementation of projects and thus a share in the assets of the platform. A developer becomes, so to speak, a miner of shares through the power of his programming. He can now keep this QBIT, which represents his share of the overall project, or exchange it for Ether or USD / Euro. The mining of QBIT as part of the development of QUBITICA itself is no longer possible. This process is complete. QBIT is also the unit through which investors can acquire shares in the projects. To do this, buy QBIT either from the developers, any holder or via the platform. A purchase on exchanges is of course also possible. For new projects under other brands, the introduction of additional tokens is possible. QBIT holders automatically receive shares in this token upon issue.

SOURCE: COINGECKO

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