Vertcoin VTC to Wanchain WAN Exchange

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Crypto Pair Details: VTC to WAN

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.'



Wanchain WAN

Wanchain seeks to link the present to the future, through the exploration and implementation of blockchain technology. Wanchain aims to build a distributed “bank”. Just as traditional banks are the infrastructure of the current financial framework, Wanchain seeks to build a new, distributed infrastructure of digital assets to form an improved, modern framework - an ambitious goal indeed. Wanchain connects and exchanges value between different blockchain ledgers in a distributed manner. It uses the latest cryptographic theories to build a non-proprietary cross-chain protocol and a distributed ledger that records both cross-chain and intra-chain transactions. Any blockchain network, whether a public, private or consortium chain, can integrate with Wanchain to establish connections between different ledgers and perform low cost inter-ledger asset transfers. The Wanchain ledger supports not only smart contracts, but also token exchange privacy protection. With Wanchain, any institution or individual can set up their own virtual teller window in the “bank” and provide services such as loan origination, asset exchanges, credit payments and transaction settlements based on digital assets. Under the guarantee of “banks” based on the blockchain infrastructure, more people can participate in financial services based on digital assets. To describe it more accurately, Wanchain is a distributed super-financial market based on blockchain. Wanchain uses the Locked Account Generation Scheme to secure funds and keys when there are multiple parties involved. Based on Shamir’s Secret Sharing Scheme, it effectively breaks up a key into shares and distributes it to all included participants. The Storemen are responsible for maintaining and managing the appropriate key shares of the locked accounts for transactions. This method of key share distribution has a few benefits. Because Wanchain generates locked accounts through multi-party computations, there’s increased decentralization. And there’s more stability because you don’t need every key share to produce a signature for a locked account. If some of the Validators are offline, transactions can still be executed with a minimum number of shares. Finally, any transaction with a locked account is done via the original chain. This means that any chain can easily integrate and interact with Wanchain without the need for new transaction types or validators. The Wanchain Foundation is a non-profit organization primarily operating out of Singapore but also has a significant presence in Austin, TX. Wanchain was founded by Jack Lu, a respected player in the blockchain space. Before his current role, Lu co-founded Factom and started Wanglu Tech, a blockchain application development company. Wanglu Tech has been a primary contributor to the open-source Wanchain project. Dustin Byington serves as the Wanchain President. Byington is a blockchain veteran having founded Bitcoin College in 2014 as well as co-founding Tendermint, a software mechanism to securely and consistently replicate applications across machines. Byington also co-founded Satoshi Talent, a platform to connect blockchain entrepreneurs with developers. WAN tokens were initially distributed as ERC-20 tokens to ICO participants, but it’s now possible to exchange these for tokens on the Wanchain mainnet or buy them directly. It’s a common misconception that WAN is an ERC-20 coin. Wanchain is a pioneering and potentially disruptive project with its sights set on becoming a super financial market of the world. Although achieving its lofty goal(s) is going to require a lot more work, Wanchain is further along its roadmap than some projects. But there’s still a good bit of “in theory” going on here. As Wanchain is addressing the whole financial market, it has a number of competitors. Most notably Fusion, Pantos, Ark, and Qash; some may even consider big players the likes of Ripple, Stellar and Ethereum competitors. On the positive side, Wanchain has strong fundamentals, they’ve got a functional mainnet, the vitality of their use case is indisputable, the huge interest in their ICO showed a powerful vein of investor confidence, and the team has a track record of success.

SOURCE: COINGECKO



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