About-VTA

Virtacoin

Lightning Fast Performance

Virtacoin (VTA) is a decentralized, peer-to-peer cryptocurrency, similar to Bitcoin, designed for fast global payments and supporting local initiatives, often called "The People's Coin". Users can earn VTA through mining (solo or pools) and use it for trading, staking, lending, or sending payments, though it often shows low trading volume and minimal market data on major platforms, indicating a relatively niche or inactive status.

Technical Specifications

  • Scrypt proof-of-work algorithm
  • 60 second block time target
  • ~21 billion total coins
  • 8000 coins per block, reduces by 0.5% each week starting 2/28/14
  • Difficulty retarget every 1 block

Core Similarities

Bitcoin and Virtacoin share core similarities as decentralized, peer-to-peer cryptocurrencies based on the original Bitcoin codebase that use a proof-of-work mechanism.

  • Decentralization: Both are decentralized currencies, meaning no single central authority (like a bank or government) controls the network or the issuance of money.

  • Peer-to-Peer Technology: They both use peer-to-peer (P2P) technology to manage transactions directly between users without intermediaries.

  • Origin: The VirtaCoin network was explicitly built on the codebase of Bitcoin and functions in a similar manner.
  • Proof-of-Work (PoW):     Both currencies utilize a proof-of-work consensus mechanism to verify transactions and secure the network, which also allows users to earn coins through mining (solo or in pools).
  • Purpose: The primary objective for both is to function as a medium of exchange, allowing individuals to make instant, worldwide payments.
  • Security Principles: Both systems incorporate technology to prevent issues like double-spending and ensure a secure, transparent record of transactions via a distributed ledger (blockchain).

    • Pioneering the Digital Frontier After Bitcoin

    Virtacoin (VTA) is a peer-to-peer, decentralized cryptocurrency that was launched on July 1, 2014. It operates on a proof-of-work (PoW) mechanism and aims to manage transactions globally without a central authority like a bank. Virtacoin (VTA) is a decentralized, peer-to-peer digital currency, similar to Bitcoin, allowing instant global payments without central banks, using proof-of-work for security and transaction verification. Often called "The People's Coin," it aims to empower local economies, with users generating VTA through mining or earning via staking/trading on exchanges like Bitget, supporting community lending on Kiva. Purpose: Facilitates peer-to-peer transactions and supports local economic development through Kiva lending, connecting local needs to global markets.