Virtual Crypto, found online at Virtual-Crypto.com, promises to make cryptocurrencies easier to use. Find out how it works today in our review.
What Is Virtual Crypto?
Virtual Crypto is an online platform that claims to offer fast trade executions when buying and selling cryptocurrencies.
The goal is to offer, fast, accurate, and trusted trade executions, allowing you to exchange cash for crypto in seconds (and vice versa).
Of course, there are a number of cryptocurrency exchanges and trading platforms where you can quickly and securely buy cryptocurrency. What makes Virtual Crypto different?
The main difference between Virtual Crypto and other crypto transaction systems is that Virtual Crypto validates transactions before they occur on the main bitcoin blockchain. Virtual Crypto makes a prediction about whether or not that transaction will be processed. This allows for the de facto instant processing of bitcoin transactions.
Let’s take a closer look at how it works.
How Does Virtual Crypto Work?
Virtual Crypto’s unique selling feature is its validation system. Typically, a bitcoin transaction requires several confirmations to be successful. Each confirmation takes approximately 10 minutes. As the Virtual Crypto website explains, a traditional bitcoin transaction can take up to 24 hours due to verification requirements.
Virtual Crypto has come up with a different system. Virtual Crypto has created their own validation algorithm that predicts with a high level of accuracy whether or not the bitcoin trade will be confirmed by the bitcoin network.
In other words, Virtual Crypto confirms the validity of a bitcoin transaction before it’s actually confirmed by the bitcoin blockchain.
It’s similar to the Lightning network is that it involves the off-chain processing of bitcoin transactions. It’s also similar in that it makes bitcoin trades instant, which means you don’t have to wait 10 minutes every time you want to buy or sell bitcoin.
The end result is a system that provides real-time value at the time of sale and purchase.
Virtual Crypto Products
Virtual Crypto’s products include an ATM, a trading platform, and a tablet.
The Virtual Crypto ATM is a cryptocurrency ATM with an embedded currency exchange transaction validation system (CETV). When trading with the Virtual Crypto ATM, an immediate exchange occurs at the crypto-enabled ATM with a transfer from bitcoin to cash in under 10 seconds. The ATMs are two-way ATMs. They can accept and dispense both cash and cryptocurrencies.
Multi-Platform Cryptocurrency Trading Platform
Virtual Crypto’s software claims to make all cryptocurrency accessible by acting as a gateway that works simultaneously with several cryptocurrency exchanges for each transaction.
In other words, you can make fast cryptocurrency transactions across multiple exchanges simultaneously while interacting with a single dashboard. You can also enjoy lower spreads and better liquidity across multiple exchanges.
The Virtual Crypto tablet trader and mobile retail POS system is a two-way transaction platform. It’s a physical system that can be installed at your retail location, allowing you to accept payments in real-time.
Retailers and customers enjoy instant validation and confirmation of transactions. Meanwhile, Virtual Crypto has an entire back-office dashboard “for real-time multi-transaction artificial intelligence enabled monitoring,” explains the official website.
The Bit4Sure Mobile App
The team behind Virtual Crypto also appears to run a separate mobile solution called the Bit4Sure mobile app. It’s a mobile app and web app service that predicts, with high confidence, the closing of a bitcoin transaction at the earliest stage – just like the Virtual Crypto software.
Virtual Crypto Technologies Bit4Sure is available through Bit4Sure.com today and is considered a Proprietary Cryptocurrency Transaction Confirmation API. The Virtual Crypto Bit4Sure API solution helps reduce the time from when a transaction happens on the network to when it is published on the blockchain, allowing for confirmations to happen before it reaches the next blockchain block mined included.
How Does Virtual Crypto Predict Bitcoin Transactions Before They Occur?
Virtual Crypto’s unique selling feature is that it can predict bitcoin confirmations with high accuracy before they’re actually confirmed by the bitcoin network.
How Does Virtual Crypto Do that?
Well, Virtual Crypto’s validation algorithm is based on a system created in-house by Royi Itzhak, PhD, and Frank Afriat. That system uses an innovative mechanism to predict bitcoin transaction confirmations.
The predictions are based on blockchain data over the last X number of hours. The algorithm also looks at the current pool of unconfirmed transactions (the mempool).
First, the behavior of a future miner is predicted “using Monte Carlo simulation and models like LSTM (submodel based on recurrent neural network (RNN)) and ARIMA (autoregressive integrated moving average), explains the official website.
Then, Virtual Crypto’s algorithm divides the data into a training set, a test set, and a real validation data set. Based on this information, Virtual Crypto can determine how quickly transactions with different fees are likely to be included into upcoming blocks.
In other words, Virtual Crypto’s algorithm analyzes the current bitcoin transactions waiting to be processed, checks the current transaction fees, then makes a prediction of when and if those transactions will be confirmed.
The results are then validated with a metric like root mean square error, or RMSE, and Pearson correlation r^2 score. In the future, Virtual Crypto plans to continue reducing error predictions using big data analysis.
Ultimately, Virtual Crypto Technologies claims to offer an accuracy rate of 95% to 99%.
Who’s Behind Virtual Crypto?
Virtual Crypto and its unique validation algorithm were created by a Rosh Haayin, Israel-based team of developers. Credit for the validation algorithm goes to Royi Itzhak, PhD and Frank Afriat.
The company is organized under the name Virtual Crypto Technologies Inc. and Virtual Crypto Technologies Ltd. (they’re two separate entities). These companies are led by Yair Fudin (Chairman and CEO of Virtual Crypto Inc.), Alon Dayan (CEO of Virtual Crypto Ltd.) The two companies share many executive members. Full information about the company is available at their About Us page here.
Virtual Crypto is a validation system capable of approving bitcoin transactions before they’re actually approved by the bitcoin blockchain. The Virtual Crypto algorithm will analyze the bitcoin mempool, check the transaction’s fee, then calculate when and if the transaction will go through. The platform can be used for e-commerce purposes (including instant bitcoin payments) and online trading.
To learn more about Virtual Crypto, visit online today at Virtual-Crypto.com.