Vertcoin (VTC) is launched on 8th January 2014 with the aim of being a truly decentralized Cryptocurrency. Fairly distributed since launch with no ICO, pre-mines or airdrops, the project aims to be the currency that is available for everyone to acquire. Staying true to the concept of being fair, Vertcoin is ASIC-resistant with the Lyra2REv2 algorithm, and has previously forked to demonstrate its commitment to being ASIC-free.
Currently, Vertcoin can be mined with GPUs and will remain so for the foreseeable future. Vertcoin is based on the proven Proof-of-Work (PoW) algorithm and is complemented by LIT – Lightning Network developed at MIT, which has been designed to solve scaling problems plaguing many cryptocurrencies without compromising on security.