Vertcoin’s second halving is expected in under 24 hours!
The next halvening for Vertcoin (vtc) will take place on approximately Wed, 08 Dec 2021 11:40 at block number 1680000.
Like other coins (e.g BTC), a halving occurs every ~4 years (840,000 blocks). This is allows Vertcoin to have a max supply of 84m VTC & become non-inflationary!
Block reward 25 -> 12.5 VTC
What is Vertcoin?
Vertcoin is a GPU mined blockchain that was started in January 2014. The developers felt that ASIC dominance of litecoin was bad for decentralization and wanted to make an ASIC resistant fork. The source code was forked originally from Bitcoin and updates to the Bitcoin main chain are still rolled out to Vertcoin as well.
The supply (84m) and block time (2.5min) are taken from Litecoin specs to enable improvements to scalability. The mining algorithm is Verthash which is similar to Ethash and is designed to be ASIC resistant and mined by GPU miners. The difficulty adjustment is processed every 2.5 minutes as opposed to every two weeks with BTC.
There was no pre-mine, ICO or airdrop when Vertcoin forked.The project is not funded or controlled by any single organisation. The project is open-source and decentralised.