Vertcoin
Crypto Overview
Understanding Intended Utility
Vertcoin (VTC) was created in 2014 as a fork of Bitcoin designed to maintain ASIC resistance, ensuring mining remains accessible to ordinary users with consumer-grade hardware. The project's core purpose is to maintain a decentralized cryptocurrency that stays true to the 'one-CPU-one-vote' vision outlined in the original Bitcoin whitepaper.
Business Model Analysis
The business model is transparent and follows Islamic principles as it focuses on fair distribution of mining rewards and preventing mining centralization. There are no impermissible activities in its core protocol.
Actual Utility Assessment
Current usage data shows Vertcoin maintains active mining operations through its Verthash algorithm, though network activity has decreased significantly since its peak. The project has demonstrated consistent development activity, with recent updates to its mining software and wallet implementations. The Vertcoin Lightning Network implementation shows technical progress, though adoption remains limited.
Token Distribution and Founder Analysis
Vertcoin had no ICO or pre-mine, meaning there was no initial token allocation to founders or developers. All coins are created through mining, following a fair launch model. The development team is volunteer-based and funded through community donations, indicating low risk of founder enrichment schemes.
Technology and Revenue Model
The core technology is based on proof-of-work mining without staking or interest-bearing mechanisms. Revenue is generated solely through mining rewards and transaction fees, avoiding riba-based income.
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.