ForexMinute.com – Litecoin-inspired Vertcoin although has a limited market supply with a decent number of exchanges and businesses accepting it, but there is no doubt that this coin has a potential to bring limitless opportunities to its users. The Scrypt-based coin has now announced to merge its mining with a new cryptocurrency Monocle. The Vertcoin’s existing users will also be able to receive the new coin while mining for Vertcoin.
The decision of merged-mining between Vertcoin and Monocle seem to be focused towards adding strength to both the cryptocurrencies. The results have already started to pop as Vertcoin’s value has reportedly risen 2.5% in last 24 hours, especially in times when PBOC is taking every major step to burst the cryptocurrency clan.
It is also speculated that Vertcoin is aiming at stealing the section of those miners who are also against the upcoming ASIC mining trend. Vertcoin is among the few Scrypt-based coins that had strongly disapproved the soon-to-come ASIC mining trend. Earlier, Litecoin creator Charles Lee has also proposed a merge mining with Dogecoin – the answer of which is still in dark.
At its website, Vertcoin openly call itself an ASIC resistant coin which believes in secure and strong decentralized approach for cryptocurrencies – a thing which ASIC machines will definitely change.
“Vertcoin’s algorithm,” says an excerpt from the website, “has been designed to resist the development of custom mining hardware, and multi-pool 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.”
We can’t surely predict the exact way this announcement will help Vertcoin. More things will only be cleared when ASIC Scrypt Mining Machines will be at large.
To contact the reporter of the story: Yashu Gola at email@example.com
Subscribe to the two-month free subscription of our daily newsletter by visiting www.forexminute.com/newsletter