Is ViaCoin The Fastest Digital Coin In The Market?
ViaCoin is an open source cryptocurrency derived from the Bitcoin protocol. The cryptocurrency supports embedded consensus with an extended OP-RETURN of 120 bytes. The coin supply is 23 million, and the mining rewards take place every six months.
The coin was publicly introduced to the crypto market in 2014. The coin integrates into decentralized asset transactions on the blockchain technology that enables it to reach speeds that are yet to be achieved by other cryptocurrencies.
The coin is proof of work and Scrypt based. It was created in a bid to contrast Bitcoins structural problems especially the delays that are due to blockchain delay and that prevent micro-transaction of currency transitions. The developers of the digital coin want to learn from the mistakes of other cryptocurrency and have used innovative technology to make the currency more secure and efficient.
The use of the SegWit technology has increased the digital coin’s capacity, expanded scripting, and reduced the UTXO set of the currency. The developers of the cryptocurrency are continuously working to improve it. Today the Viacoin is 25 times faster than Bitcoin at a fast speed of 24 seconds per block.
Features of Viacoin
- The digital currency uses C++ and Python 3, a modernized code. The company has further developed a hierarchical deterministic key generation technology making it easier for currency users to reset and secure their wallets. Additionally, the coin is now compatible with the B19P program, which is good news for miners.
- The hash time lock in the coins smart contract is another positive milestone. The time lock feature allows secure payment to be made from one party to the other without the interference of a third party. The user can also secure the transaction in the meantime. This means that a new transaction will be prevented until a given time change is achieved with the use of a newOP code.
- The transaction tickle allows the user wallet to send transactions once
- The memory optimization feature allows users to filter and search for transactions in a mempool
- Viacoin also uses Sicache, which is a UTXO cache that accelerates and optimizes transactions
- The coin uses an algorithm to generate increased output from mining, preferring low fee transactions to the higher transaction fees.
- The anonymity of transactions has been improved due to TOPR support used by the development team. The feature helps to keep the currency secure. The identity of the user is also kept safe.
- Developers have optimized the blockchain to allow for its free scaling. The chain has been pruned to save disk space and the memory optimized using mempool transaction filtering. The UTXO cache has also been optimized leading to faster transaction times.
Viacoin Ico Details
Instead of focusing on a public ICO like other coins, Viacoin is growing while it is being tested and improved. This cultivates trust among the community around the coin. It is obvious that when it is fully developed, it will have features that no other alt currency has. The coin value is set to go up in the future due to the use of new technologies and the innovation behind the coin.