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|Latest release||0.14.0 /|
|Operating system||Windows, Linux, macOS|
|Ledger start||8 January 2014|
|Block time||2 minutes, 30 seconds|
Vertcoin (VTC) is an open-source cryptocurrency created in early 2014 that focuses on decentralization. Vertcoin uses a proof-of-work mechanism to issue new coins and incentivize miners to secure the network and validate transactions.
Vertcoin was started at the beginning of 2014 by David Muller. It uses concepts from Bitcoin as a basis with some changes. Associations have procured massive data centers of machines to mine bitcoin, which makes it more centralized and more difficult for laypeople to succeed in mining bitcoins. In contrast, Vertcoin aims to be decentralized by penalizing large mining pools that try to control the entire market through being ASIC resistant.
TechRadar's Jonas Muro wrote in 2018 that two reasons among others made Vertcoin "popula[r]". One reason is that there is little friction for new users who can use "one-click software" to mine. Another reason is that people are very involved in Vertcoin on social media. NBC News's Ben Popken noted in 2018 that Vertcoin has received significant attention on reddit and that its "soaring popularity over the last year" is owing to its being impervious to the mining pools used to have heavy influence over Bitcoin. Though a December 2018 paper published in The Transactions of the Korean Institute of Electrical Engineers said that "because [Vertcoin] is not a very popular blockchain, the difficulty adjustment algorithm is very sensitive to hashrate change, making it an easy target to timestamp spoofing and cherry picking attack."