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Vertcoin (VTC) is an open-source cryptocurrency created in early 2014 by David Muller that focuses on decentralization.  Vertcoin is a virtual currency that uses, Proof of Work consensus algorithm like Bitcoin.  But unlike Bitcoin However, Vertcoin platform is ASIC resistant meaning that the platform can’t shift towards centralization as is the case with ASIC controlled blockchain like Bitcoin.

Back in the days, if I was smart enough, I could of mined for Bitcoins using must my computer.  Those days are long gone.  Bitcoin is now worth thousands of dollars to compete for mined Bitcoins, you need a farm of hardware known as ASIC (application-specific integrated circuit).  So the little guys like me have been squeezed out the game.

Vertcoin is trying to flip the game back so that us little guys have a chance.  Vertcoin punishes miners who use powerful machines with the goal of leveling the cryptocurrency playing field.  Instead Vertcoins are mined using mining rigs comprising of Graphics Processing Units (GPUs).  But there is tradeoff…there always seems to be a BUT to many things right.

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<blockquote>

These ASIC-resistant projects’ algorithms are designed to ensure that powerful rigs running expensive, uniquely designed application-specific integrated circuits (ASICs) have no advantage over those with graphics cards, or GPUs, a widely available, more affordable processing unit that can also be used for gaming consoles and other purposes.

The problem, these critics say, is that if mining is relatively cheap and can be employed by simply taking a machine that’s currently doing one thing and having it do a different task, it’s easy for an attacker to deploy enough hashing power to seize control of the network.

bitcoin appears to be significantly less vulnerable than other coins, because its massive overall hashing power, though itself down sharply since early October, makes it extremely expensive to rent enough of that power to take over the network
</blockquote>

<center><a href="https://www.coindesk.com/vertcoins-struggle-is-everyones-struggle">Source</a></center>

Roughly one year ago in 2018, Vertcoin (VTC) came under a 51% attack, with a wave of reorgs and double-spend activity currently unfolding. And yesterday, the same thing happened again when around 603 blocks got removed from the project’s main blockchain replaced them with 553 of attacker blocks.

But a crypto miner named, Lovejoy realized Vertcoin was under attack and contacted crypto Bittrex (majority of the VTC/BTC trading volume is on that exchange) and recommend it disabled its Vertcoin wallet momentarily.  This was a far better ending than the attack in 2018 were the hackers stole about $100k in Vertcoin.  This attack, the hacker actually lost about $5k when he was control 51% of the Vertcoin’s hashrate.

These attackers aren’t good form the Vertcoin’s developers and its community and causes investors to take what money they have left and run for the hills.

So where is the price of Vertcoin heading from here, the chart suggests after bouncing off the daily supply at $0.65 several times this year, the next stop is the daily demand at $0.07.

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This post is my personal opinion. I’m not a financial advisor, this isn't financial advise. Do your own research before making investment decisions.

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