A new and exciting day is ahead of us, as it will be filled with glorious articles about services a, coins, and other things. To start things off, I would like to take the time to talk about Virtual Mining Coin (VMC)!
The reason why we took an interest in Virtual Mining Coin, is because it is the firstt digital currency backed by collateral. What this does is ensure the value of VMC never drops to zero, so it will always be valuable
Keeping in mind how Virtual Mining Coin was launched on April 24th, I don’t know anyone who had heard about VMC to be honest. Let’s take a look at the history of VMC and see what makes it so particularly interesting.
As I mentioned before, Virtual Mining Coin is backed by collateral. This was achieved by holding an IPO, representing the VMC pre-mine (10% of all coins), and selling these off in exchange for Bitcoin. You can find a full list of IPO investors here.
The Bitcoin coming from the IPO, is used to set up the collateral backing, by buying CEX.io cloud Bitcoin mining pozer. Most of us know CEX.io, a platform where you can trade GH/s in order to mine, or flip them for a profit. We will do a few articles on CEX.io later this week.
What Virtual MIning Coin does with the earnings coming from CEX.io, is reinvest the earned Bitcoin into more mining hashpower. This way, there is a steady increase in the collateral backing of VMC.
Even though Virtual Mining Coin was launched months ago, it can actually still be mined. Let’s take a quick look at the technical specifications :
– Transaction Confirms: 5
– Block Confirms: 50
– MAX Coin: 100.000.000
– Block value: 171.2
– Block Time: 60 Seconds
– Retarget: EVERY 5 blocks / 5 Minutes
– KGW Implemented with TIMEWARP FIX
– SCRYPT-N ADAPTIVE (ASIC resistant)
– New features: The wallet is a Static build, which means there are no DLL files required to run the wallet
– Premine: 10% (80% of the pre-mined coins will be shared proportionally among those involved in the IPO.) Other 20% for the maintenance, developing and the bounties.
One of the tools that I find interesting, can be found here. It shows the current Virtual Mining Coin hashrate, difficulty, the percentile of the total coin supply mined so far, and other things. A very useful tool to be honest!
Other than that, there is also a promotional video on YouTube, explaining what Virtual Mining Coin represents and does :
You can trade Virtual Mining Coin on BitTrex, IntLexc and CoinSwap.
Virtual Mining Coin donations : VcjwtzkKP9NWFcDESnsFRRTLYtSGB65Ej3
To find out more about Virtual mIning Coin, please use the following sources :
Virtual Mining Coin website : http://virtualminingcoin.org/
Virtual Mining Coin on BitcoinTalk : https://bitcointalk.org/index.php?topic=582873.0
Virtual Mining Coin on Twitter : https://twitter.com/VMC_news
Virtual Mining Coin on Facebook : https://www.facebook.com/pages/Virtual-Mining-Coin/762918207086070