Vertcoin VTC

Market Cap $ 10.980 MM (#206)
24h Volume $ 102.563 K
Chg. 24h: -2.03%
Algo. score 3.9/5  (#59)
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Vertcoin News

Vertbase to List Digibyte (DGB) Paired with the USD

Vertbase, an instant buy exchange that launched in September of 2018 with Vertcoin as its first asset, has announced that it plans to list the cryptocurrency DigiByte (DGB) on its platform starting on December 14th, and it will be paired with the US Dollar. Vertbase is a non-custodial exchange available to all US residents except those living in the states of AK, CT, HI, ME, NC, NH, NM, NY, RI, VT and WA. A percentage of the fees generated by trading DGB on the Vertbase platform will be given to the DigiByte Awareness Team to help expand community support. (JF)

a day ago

Zcoin Implements ASIC Resistance, And UAE Simplifies KYC With Blockchain

The State of The Market — December 6, 2018 BTC: $3,760.44 (-3.42%) XRP: $0.334216 (-3.85%) ETH: $98.98 (-8.59%) After Bitcoin crashed below $4,000 yesterday, it continued to fall, reaching a low of $3,678. However, there was a strong $100 rebound right after that and it has been trading in those levels for the past few hours. The crypto market lost more than $6 Billion in the last 24 hours. Ethereum barely managed to hold on to its support at $100. Meanwhile, Bitcoin Cash and EOS suffered the biggest losses for the third consecutive day, going down by 16.3% and 8.7% respectively. In other news, Cybersecurity expert Mark Nesbitt recently revealed that Vertcoin experienced a 51 percent attack. A group of unknown hackers rented a huge amount of ASIC hash rate to infiltrate Vertoin’s network. Once in control of the network, the hackers were able to launch a double spending exploit which netted $100,000. Also, world’s largest financial institutions are still bullish on crypto despite bear market. Fidelity, Nasdaq, Baidu, and Sequoia are just a few of the largest venture capitalists and financial institutions that are placing bullish bets on the future of crypto. Many of the investment and crypto-custody platforms developed by large institutions are scheduled to launch in Q1–2 of 2019. 1) Zcoin has implemented Merkle Tree Proof (MTP) cryptocurrency mining, a new mining algorithm that hinders ASIC, FPGA, and botnet mining. MTP is a solution aimed at resolving the difficulties encountered by small-time miners. Most mining algorithms are disposed to ASICs and FPGAs. 2) The Abu Dhabi Global Market (ADGM), an international financial free zone within the United Arab Emirates has announced the successful completion of the blockchain trial for its know-your-customer (KYC) application. The trial was conducted along with its regulator Financial Services Regulatory Authority (FSRA), and KPMG as its project advisor. The trial concluded that blockchain has radically simplified the cumbersome and cost-intensive KYC process. ADGM also added that the application provides an unalterable audit trail, and is compliant with the EU’s GDPR data privacy rules. The FSRA is now planning to take the project to the next phase, to ease access to banking services for small and medium-sized enterprises. 3) According to Twitter account ‘BTCKING555’ that exclusively tweets on Bitmain, things are not looking good for the Chinese mining giant. Bitmain has reportedly recorded its worst quarter, losing $740 Million in Q3, 2018. The account also added that the actual number could be higher because the losses do not account the additional expenses incurred during the Bitcoin Cash fork war. Poor sales, and the crypto market crash has affected the firm’s cash streams. If the rumours are true, it could severely affect Bitmain’s IPO ambitions. (VS)

6 days ago

$100,000 was Lost in Vertcoin's 51% Attack

Cybersecurity expert Mark Nesbitt recently revealed that Vertcoin was experiencing a 51 percent attack. According to Nesbitt, a group of unknown hackers rented a huge amount of ASIC hash rate to infiltrate Vertoin’s network and co-opt more than 50 percent of its mining hash rate. Once in control of the network, the hackers were able to launch a double spending exploit which netted $100,000. Nesbitt explained that “Vertcoin (VTC) experienced 22 deep chain reorganizations, 15 of which included double spends of VTC.” Nesbitt and his team believe that the largest reorganization was more than 300 blocks deep and he points to a lack of effective countermeasures from exchanges as the reason why 51% attacks occur with such frequency. (RS)

7 days ago

Vertcoin (VTC) Falls Victim to a 51% Attack

The lesser known project Vertcoin (VTC) is currently experiencing a 51% attack, with a high number of reorgs and double-spend activity currently taking place on its network. A security engineer from Coinbase has posted a blog detailing an ongoing investigation into nearly two dozen “deep chain reorganizations” in Vertcoin, more than half of which included “double spends of VTC” worth more than $100,000. Despite the current attack, which began on November 29th, the price action of VTC has remained relatively stable. (JF)

7 days ago

Crypto Market Update Dec.4: Ready for the next episode after a calm week

It’s been a quiet week for the market after the price drop of recent weeks, the downward trend has stopped, and the entire market is ready to see what happens next. It seems that weak hands are real and money is changing hands as new players enter, and the order book is renewed. In addition, mining difficulty fell by 15%, the sharpest decline since 2011. The alternative coins, Altcoins, had a slightly more turbulent week with a mixed trend, with many of the altcoins showing a positive trend, especially when trading against Bitcoin. Ethereum Classic’s development team announced that they are abandoning the development due to difficulties in financing their operations. It will be interesting to see how long ETC will continue to star in the top 20 even though its developers have abandoned ship. A 51% attack on Vertcoin reminds us of the weakness of small and unsafe Alt networks. The ICO phenomenon continues to lose momentum, and despite the SEC’s warnings, many companies are trying their luck in the airdrops scene. The market cap is around $128 billion, and the trading volume is stable at $14 billion Bitcoin Dominance at 53.9%. Crypto News & Headlines Mainstream Media Says Bitcoin Is Dead: Is It The Time To Buy? The media have incorrectly described Bitcoin’s recent plunge as a “dead” end for the cryptocurrency. However, it is not what it seems, and this may just be the best opportunity to buy low. G20: Crypto Taxation System to Be Developed Soon. G20 member nations plan to release a system that makes it easier for cryptocurrencies to be aligned with the global tax system. $257 Million Worth of BTC Were Sent From an Inactive Address. One of the top twenty wealthiest Bitcoin address moved 66,233 BTC ($257 million) for a transaction fee of less than $50 after being inactive since 2014. Who owns the wallet? Asus crypto mining partnership is perfect for gamers who live with their parents. Gamers who live with their parents can now make money by mining cryptocurrency with their idle graphics card. They only have to install an application that was developed to run in the PC’s background. Morgan Creek CEO Says Bitcoin’s Value Could Be 20x Current Value In The Next 10 Years. In an interview on CNBC’s Fast Money, Mark Yusko said the current state of the market makes Bitcoin a good investment choice for both the long-term and short-term. A 20x increase in the next ten years is attainable, according to him. Nasdaq confirms it will list Bitcoin Futures. Previously, it was a rumor, but Vice President of Nasdaq’s media team, Joseph Christinat has confirmed that Bitcoin Futures will launch on the world’s second largest exchange in the first half of 2019. Charts The weekly charts had moved here. The post Crypto Market Update Dec.4: Ready for the next episode after a calm week appeared first on CryptoPotato.

8 days ago

Vertcoin (VTC) 51% Attacked, $100,000 Lost via Double Spend

The Vertcoin (VTC) network was successfully 51% attacked, and a large reorg happened that cost them more than $100,000. We have already seen weaker blockchain platforms like Bitcoin Gold (BTG), Verge (XVG), and ZenCash being hit with 51% attacks in the recent months. Vertcoin (VTC) 51% Attacked And now, we have the Vertcoin going through the same fate again. Moreover, an interesting part is that San Francisco-based crypto exchange, Coinbase has given an official statement on this attack, claiming that the Bitcoin-like networks (or forks of BTC) are weaker and less secure. This may be why Coinbase did not list Vertcoin, whereas, competing exchanges including Binance and Bittrex have listed it. Vertcoin 51% Attacked A 51% attack was performed on the Vertcoin blockchain on 2nd of December, and double spending happened, costing the network to lose more than $100,000. It was reported that a large amount of ASIC hash was rented to orchestrate this attack. Successive reorg on the blockchain was performed. Vertcoin went through repeated reorg going as deep as 307 blocks. Vertcoin Against ASICs Proving to Be Insecure The Vertcoin algorithm is designed to be ASIC-resistant - in order to make the mining more decentralized. So anyone with a graphics card can easily mine Vertcoin. The drawback of this, however, is that such a network can be attacked by anyone having a standard graphicss card, unlike other ASIC coins such as bitcoin (BTC) - which require ASIC mining equipment to perform 51% attacks successfully (even they it may be practically impossible to do so on the BTC blockchain). Coinbase Making Use of this Opportunity Coinbase came out with a detailed article about this attack in an official blog post, criticizing the Bitcoin-like Networks that are clearly vulnerable to attacks. Coinbase was targeting its competitors who have listed Vertcoin. The US-exchange may have taken advantage of the situation to inform people about other exchanges that have listed insecure coins. Advice to Investors Experts have always advised investors to be cautious and keep away from low cap coins, as they are vulnerable to 51% attacks. But investors go after those coins for making quick money. These coins, if invested in without prior research, can lead to a loss of funds. Therefore, it is better to invest in a more secure and reliable blockchain network like Bitcoin (BTC) - which is the most secure network in the entire blockchain ecosystem. Millions of dollars and electricity are required to attack the Bitcoin network, and it is also logistically highly infeasible. The post Vertcoin (VTC) 51% Attacked, $100,000 Lost via Double Spend appeared first on Crypto Core Media.

8 days ago

Vertcoin 51% Attack Could Have Caused $100K in Double Spending

Vertcoin has been experiencing ongoing 51% attacks, reportedly resulting in $100K of double spending on the network. Rough Couple of Months for Vertcoin In a detailed blog post, Coinbase security engineer Mark Nesbitt revealed that Vertcoin’s network went through repeated 51% attacks, with the largest reorganization having a length of 310 blocks and a depth of 307 blocks which, according to the specialist, may have caused double spends upwards of $100,000. The incidents started in October and happened on four different occasions, the last of which was supposedly ongoing at the time of publishing the blog post - December 2nd. According to Nesbitt, the last incident was comprised of four reorganizations, all of which resulted in double-spend transactions. It’s worth noting that Vertcoin’s mining algorithm is deliberately geared against ASIC and ASIC-like devices by making them particularly inefficient. Instead, mining on the network is designed to be achieved solely through commonly available graphics cards. This is supposedly an attempt to hedge against mining centralization. Nesbitt argues, though, that this is largely counterproductive to the network’s security because it enables anyone in the world who’s using graphics cards to attack the coin as opposed to networks mined with ASICs (e.g. Bitcoin) where only ASIC users can attack the coin. The Importance of Network Strength This year has seen a rise in 51% percent attacks against cryptocurrencies such as Verge, Bitcoin Gold, and ZenCash, to name a few. Some projects have already taken steps to prevent this kind of incidents in the future. Bitcoin Gold’s team revealed that it plans a hard fork as a solution to prevent 51% attacks. A 51% attack takes place when an individual or a group of individuals control more than 50% of the network’s mining hash rate or computing power. Bitcoin’s network is by far the most secure blockchain today. Mining bitcoin is designed to be particularly energy intensive. The computational power needed to generate new blocks requires a great deal of electricity to power up the specialized mining hardware. Simply put, attacking the network is a lot more expensive than to defend it. Tracking site Crypto51 measures the theoretical cost of 51% attacks on each network. According to it, sustaining such an attack against Vertcoin would only cost $125 per hour, while attacking the Bitcoin network would cost $255,744 per hour. What do you think of the latest 51% attacks on Vertcoin? Don’t hesitate to let us know in the comments below! Images courtesy of Shutterstock The post Vertcoin 51% Attack Could Have Caused $100K in Double Spending appeared first on

8 days ago

Vertcoin Development Update — November 2018 Algorithm updat...

Vertcoin Development Update — November 2018 Algorithm update and plans Non Securities Legal Opinion Vertcoin Talk…

12 days ago

@wawing_exe @gertjaap @EdgeWallet The Vertcoin Core wallet i...

@wawing_exe @gertjaap @EdgeWallet The Vertcoin Core wallet is the wallet we recommend storing VTC in. The edge wal…

a month ago

We are just waiting on paperwork to be finished for the Vert...

We are just waiting on paperwork to be finished for the Vertcoin Foundation! @jamesl22 and @Canen01 talk about wh…

a month ago

Vertcoin #Development Update — October 2018 #ASICs and the ...

Vertcoin #Development Update — October 2018 #ASICs and the current state of GPU mining, #Verthash algorithm update…

a month ago

Off The Chain, the TLDR highlights from previous Vertcoin Ta...

Off The Chain, the TLDR highlights from previous Vertcoin Talks! Ben and Canen talk about Gert's Discreet Log Co…

2 months ago

Welcome to Off The Chain, the TLDR highlights from previous ...

Welcome to Off The Chain, the TLDR highlights from previous Vertcoin Talks! Canen lets everyone know about the V…

2 months ago

Bit-Z Exchange Launches Autumn-Themed Vertcoin (VTC) Giveaway

Hong Kong-based Bit-Z is celebrating the arrival of autumn by giving away Vertcoin (VTC). The promotion is running on Twitter, where participants should post a picture with a mid-autumn theme to be eligible. The picture should also include the user ID. The winners will be decided by the number of likes on social media, and the rewards are 45 VTC for the top three winners and 20 VTC for fourth through tenth place. Vertcoin is up 5% in today’s market rally. Vertcoin is focused on the “long-term distribution of mining consensus” and has been around since 2014. (GT)

3 months ago

Vote manipulation

I am a vertan besides your reward for "to an anonymous voter of 500 coins" why do you deserve to be on binance your volume on bittrex is abysmal at 193 btc whilst vtc is in the top 5 of bittrex wit ha 5300btc volume.......

a year ago

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