The key difference between Vertcoin and Bitcoin
For those who want to invest in cryptocurrencies and convert VTC to BTC it is crucial to understand the technology that stands behind each of these coins in order to make the right choice.
Bitcoin is a truly revolutionary way of payment as it allows users to exchange value between each other without relying on banks or other financial institutions that can ban your account or put a vet on a transaction. With Bitcoin, you are the only one to control your funds and nobody has the possibility to block them. The drawback of this technology is that without the central authority the price of Bitcoin is very volatile and no one can predict how much it will cost in the next day or even hour.
Inspired by Bitcoin’s popularity many new projects have appeared over the last several years and each of them tries to resolve some problems that Bitcoin possesses. Vertcoin has been created on Bitcon’s basis with the aim to resist centralized mining and give usual people possibility ot make money in this way. You should remember this fact if you exchange Vertcoin to Bitcoin or vice versa.
What is Bitcoin mining algorithm?
If you plan to convert BTC to VTC you should also be aware of the main source if these currencies and learn the way they are created. New bitcoins are created as a result of special equipment consuming electricity and resolving computational tasks. The machines called ASICs perform work and when they find a new block they get a award in bitcoins as a proof of work that has been accomplished. This is where the name of the algorithm Proof-of-Work comes from.
When Bitcoin was first created new blocks could be easily found on the consumer-grade hardware, but in time as bitcoin’s popularity increased and so did the difficulty finding a new blog, bitcoins can only be obtained by huge companies now. The situation is different with the Vertcoin and this is what he should remember when you exchange Bitcoin to Vertcoin.
What is Vertcoin mining algorithm?
When exchanging BTC/VTC remember that the high electricity consumption for finding the new block is the main problem that Vertcoin aims to solve. Vertcoin Hess some additional features 2 Bitcoins technology such as Stealth Address technology and the algorithm that is resistant to ASIC’s. It means that this currency aims to fight centralized mining and give specific gravity to usual people to make money.
The circulating supply of Vertcoin equals to , while its maximum supply equals to .
For Bitcoin, the circulating supply equals to 17,783,312, while its maximum supply equals to 21,000,000.
If you want to exchange VTC for BTC, the market capitalization is a very important index that you should pay attention to.
For Vertcoin, the current market capitalization equals to . Bitcoin’s capitalization equals to $212,785,647,576.00.
Volume of transactions
During the last 24 hours, Vertcoin volume of transaction equals to . For Bitcoin, this index equals to $43,856,518,005.03.