One of the things that has recently caught my attention is ViaCoin. Labelling itself as the future of digital currency, I am most definitely intrigued now. As ViaCoin is only in its pre-announcement stage, let’s take a look at what we can expect!
ViaCoin is more than just your ordinary digital currency though. There will be an entire platform (the blockchain) on which applications can be built. As this opens up a lot of possibilities, it will be interesting which route ViaCoin developers will take.
Maybe we will see decentralized exchanges, which are a hot topic among various communities, including Bitcoin, as of late. Or we might see new currencies being issued, or maybe even digital voting. I just want it all to happen really!
Even though you can argue these features could also be built on top of the Bitcoin blockchain, the Bitcoin core developers aren’t as open to it as you might expect. The Bitcoin blockchain is already under serious duress, and at this point in time it wouldn’t be a good fit per se.
“Viacoin is designed from the ground up to be both a digital currency and provide the backbone of ClearingHouse protocol, there is a 100% guarantee that ClearingHouse will always remain compatible with Viacoin. “
¨Furthermore Bitcoin is just too slow for these kinds of applications with 10 minute confirmation times which are often much longer (up to 1 hour). For decentralized exchange or shopping, that latency is simply not viable. Viacoin is blazingly fast, utilizing block targets of 24 seconds, it is 25 times faster than Bitcoin.”
ClearingHouse doesn’t ring a bell , so I guess we should look into that as well. Luckily , a blog post is provided which explain this a bit more, which you can find here. I will attempt to do a small recap below :
ClearingHouse will be launched using CounterParty as a starting point. It will also have its own internal currency, called XCH. There will a proof-based ViaCoin to XCH conversion process. Ok, I’m following so far, I hope you guys are too.
ClearingHouse will also be able to develop protocols for decentralized voting, identity and reputation management , setup and exchange of multisignature escrow (woohoo!), “blockchain notary” and lots and lots more.
So far, I’m impressed and excited about this project. I do still have healthy reservations though, but willing to give it a chance at least. Let’s keep reading, as there is more we still need to talk about.
There was a ViaCoin pre-sale, which unfortunately ended today. We do have some numbers for you though. The final bid price was 0.00006102 Bitcoin per VIA. In this pre-sale, a total of 10,000,000 VIA will be sold once ViaCoin launches. You can find out more about the distribution model here.
Even though ViaCoin hasn’t launched yet, you can get your hands on the wallet. Not the regular desktop client though, but either a paper wallet, an SPV wallet , or use ViaElectrum, which is sort of a desktop client I suppose. Plenty more features though!
There will be one exchange listing ViaCoin as soon as the coin launches , which is BitTrex.
If you are interested in finding out more about ViaCoin, you can use the following sources :
ViaCoin website : http://viacoin.org/
ViaCoin on BitcoinTalk : https://bitcointalk.org/index.php?topic=682186.0
ViaCoin on Twitter : https://twitter.com/viacoin
ViaCoin on Facebook : https://www.facebook.com/pages/Viacoin/687153974696133
ViaCoin on Reddit : http://www.reddit.com/r/viacoin
ViaCoin on Youtube : http://www.youtube.com/channel/UCPpiz6Q7xOYyyjXys9u7tlg
ViaCoin donations : Vij9rCG8XByEXsJGtpnwcQWJQ1FKpDewWW