Vertcoin
Crypto Overview
Project Overview
Vertcoin (VTC) is a decentralized cryptocurrency launched in 2014 as a fork of Litecoin. Its primary purpose is to maintain ASIC resistance through its mining algorithm, ensuring that mining remains accessible to ordinary users with consumer-grade hardware (GPUs).
Intended Utility
The core utility of Vertcoin is to serve as a peer-to-peer digital currency while maintaining decentralization through ASIC-resistant mining. The project emphasizes the 'one-click miner' that makes mining accessible to regular users.
Actual Utility Assessment
The cryptocurrency continues to function as intended, with active mining and development. The project maintains its ASIC resistance through algorithm updates when needed. The Vertcoin one-click miner is actively maintained and used.
Token Distribution and Founder Analysis
Vertcoin had no ICO or pre-mine, meaning there was no initial allocation to founders or early investors. All coins are created through mining, similar to Bitcoin's distribution model. The development team continues to maintain the project on a volunteer basis.
Technology and Revenue Model
Vertcoin operates on a Proof-of-Work consensus mechanism. There is no staking or lending functionality built into the protocol. The project generates no direct revenue, as it is maintained by volunteers and community donations.
The technology focuses purely on transfer of value and mining, with no additional financial products or services that could raise Islamic finance concerns.
Crypto Impact
To assign a comfort level investing in Vertcoin from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Vertcoin.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.