Vcash (XVC) was built over a period of several years (starting March 2015) using Peercoin as a reference implementation for interoperability and backward compatibility purposes (it is not a clone). It was named “VanillaCoin” initially and the main architect was a very bright developer named John Connor (JC). Unfortunately, he proved to be a problematic leader as he succumbed into manipulating the coin for little profit while he bullied and banned any community member that had a different opinion. JC strangled the newly born XVC chain in its crib (Nov 2016). He had a mental breakdown and eventually deleted his github account, official forum, and website. Lastly, he attempted to sabotage the vcash blockchain before disappearing; the future looked bleak but from the ashes the phoenix was reborn.
The community pledged to move on without JC, they rebranded the coin in the hopes of washing off the bad taste of his actions and gathered all the broken pieces.
The outcome is a network of secure, anti-censorship and energy efficient transactions, optimized for use by mobile devices. VCash uses random ports at startup. This means your ISP doesn’t know what you’re doing just by monitoring your ports, like it can with bitcoin or peercoin. All TCP network connections are secured using the Elliptic Curve Cryptography Cipher Suites for Transport Layer Security. So all your ISP sees is normal SSL traffic.
- 3-tier secured network (PoW & PoS & Incentive Nodes).
- Algorithm: Blake256 8-rounds
- Total Supply: 30.7mio XVC
- Circulating Supply: 15.2mio XVC (16mio by year 2020)
- PoS interest: 0.7% annually (min 8 hours, max 365 days)
- Rewards are currently at .77 per block and at the current number of super peers, it is aprox 10% APR. (If there were more super peers, the APR would decrease incrementally.) Super peer rewards will slowly decrease to .4 per block.
- Blocktime: Variable targeting between 80 – 200 seconds.
- TX Fee: 0.0005 XVC per kilobyte
The features of the coin are going to establish it as a prominent choice for winning the digital currency race.
- Chainblender: An autonomous crypto-currency mixing and privacy mechanism. Uses common denominations and merges multiple similar inputs and outputs in a random order so a single transaction can be formed from multiple parties. In this way, the “middle-man” is reduced to a blind relay and the participants would be unable to reconstruct the original inputs from the blended transaction. A truly untraceable system offering a high degree of anonymity without counter-party risk.
- ZeroTime: A decentralized autonomous zero confirmation cryptographic-currency transactions. A system utilizing zero confirmation off-chain transactions without the possibility of a double-spend. The time to confirmation is left up to the recipient, however voting, locking and eviction will take on average 372 milliseconds.
- Adaptive Block Size & Lightweight Blockchain: Autonomous flexible blocksize with infinite transactions per second while keeping the chain ultra-light and efficient.
The main market for VCash is Bittrex
What is happening now?
The coin is alive and actively developed with the help of the vcash community. A sizable part of task has been undertaken by xCore and Whphhg, both work full time developing the coin, sustained by the community fund which covers their salaries. Many other roles have been covered by volunteers such as PR, web design, community management and more; the work done so far by these individuals is remarkably high quality when considering the circumstances. As the coin becomes more successful the community fund will grow and more full time professionals will be employed.
What is not obvious from an initial glance is the grandiose vision for this Digital Currency and the dedication it requires from the community and development team in order to succeed. A look at the roadmap for 2017 might convince you.
At the time of writing, VCash can be found in Poloniex and Bittrex but the coin’s team advises against using Poloniex. The exchange keeps the wallet under maintenance and refuses to answer tickets regarding locked funds. Hopefully this is just caused by the influx of new traders exhausting Poloniex’s resources and staff and it has nothing to do with the departure of JC who once upon a time worked as a security consultant for the mentioned exchange. But again, JC made plenty of unsubstantiated claims such as “wash your teeth with clay” or “Mankind has never been on the moon” so let us hope that the Poloniex issue is a coincidence. Just use Bittrex to trade VCash for the time being.
Demonstrations making use of the coins features are popping up in github. Such as this Payment Processing Service (by Devmahno) which showcases the transaction speed as well as being fully functional to be used by any interested online casino. Check it out here
You can also enjoy this old video showing how ZeroTime and double-spending works.
What does Whale’s Friend think
VCash has certainly caught Whale’s Friend attention; low market capitalization coin with active professional development. With already implemented features that can establish it as the mainstream virtual cash coupled with minuscule transaction fees. A growing and mature community, with loyal members who endured a dark and uncertain period but managed to came out alive and stronger.
We believe the in the potential of VCash while taking into account the risks entailing any small market cap coin. As we have said in previous posts,the outcomes of investing at such early stages of a project can only be extreme as well as the price volatility. Make sure you are prepared to lose it all due to a myriad of possible deadlocks (devs leaving, catastrophic error in the code, the team pivoting the direction, the funding running out, not succeeding at finding partners for commercial use of the coin and many others).
Don’t invest more than you can afford to lose and don’t take the rumblings of a mad man online as investment advice. Do your own due diligence; Join the vcash slack or the official forum to get more info and to verify what you read here. Understand that the above is a personal opinion and was not sponsored or requested in any way. The article was written without the involvement or supervision of the VCash team.
If the article excited you, you can tip us some VCash at: Vpru7hxNeEdSf2cD9kfn3GUm17QNsTNxRX
Thanks for reading!