Last updated on March 20th, 2018 at 05:13 pm
The developers of Vertcoin have announced their project to upgrade Vertcoin’s encryption algorithm from Adaptive-N Scrypt to Lyra2. This stir renews their commitment to ASIC and Multi-Pool resistance and decentralization of network power, which is despairingly needed ter the altcoin mining community.
What Other Benefits Does Lyra2 Bring To Vertcoin?
Lyra2 is a more efficient password hashing scheme that offers excellent show against custom-built mining hardware spil it permits separate control overheen memory and processing difficulty. Te Scrypt hashing thesis two factors are tightly coupled. Vertcoin will be the very first electronic currency to adopt Lyra2.
“Vertcoin has always bot and will proceed to be the leader te decentralization of cryptocurrency. Lyra2 is a natural successor of Scrypt providing an improvement on the same fundamental purpose – scaling hardware difficulty. The decision to budge to this algorithm comes spil a preemptive strike against ASICs and a budge against Multipools. Spil many of you know, wij have several concepts ter the hopper to remain te step with the Vertcoin chartervliegtuig – Vertcoin’s [algorithm]is designed to stand against the development of custom-built mining hardware and multipool mining, ensuring that transactions are validated by a widely distributed network and avoiding the selling pressure when large mining pools indiscriminately flood the market with freshly mined coins.”
When Will Vertcoin Adopt The Fresh Algorithm?
The development team estimates that the budge will take several months to test and roll-out. A Q4 2014 launch is planned.
The stir to Lyra2 comes spil Vertcoin has suffered strong losses ter market cap te latest weeks. The switch ter algorithm has met with excellent enthusiasm from the Vertcoin community, which has continued to praise the developers of Vertcoin for their addition of fresh features and vigilance against ASIC mining. The news also comes only a few weeks after a Stealth Address feature wasgoed added to Vertcoin by the developers. Stealth Addresses permit for a totally private exchange of funds inbetween payer and recipient, which gives it functionality that can contest with Darkcoin Darksend, Dark Wallet, and other anonymous cryptocurrencies that have bot developed. Vertcoin wasgoed the very first electronic currency to add a Stealth Address function to its wallet.
Vertcoin is trading at 0.000269 btc at the time of posting.