Vertcoin is an open-source peer-to-peer network currency that emphasizes decentralization and accessibility as its raison d'être. Created in 2014 as a fork of Litecoin, Vertcoin foresaw the threat that highly-efficient ASIC mining would impose on cryptocurrencies. To avoid centralization -- that is, the concentration of mining power and wealth into fewer and fewer hands -- Vertcoin sought to stand out from the crowd with a different approach to achieving network security and utility.
Vertcoin is developed entirely by a broad community of volunteer developers and is designed to be resistant to ASIC mining with an algorithm that works most efficiently via graphics card mining. The VTC network thereby avoids large-scale mining farm centralization, instead relying on a much broader network of miners using affordable and readily available gaming PC's to achieve hashing power.
Vertcoin is a community-driven network that is often working on the leading edge, particularly in regards to finding new solutions aimed at encouraging further cryptocurrency adoption. Also in development by volunteer members of the Vertcoin community, the LIT network, for example, is a lightning network implementation that unifies lightning-compatible coins such as Bitcoin, Litecoin, and Vertcoin under a single umbrella. This network is widely seen as the next step forward in adoption, scaling, and accessibility for everyday global crypto utility.
Under the leadership of young innovators such as James Lovejoy and a host of bright minds at MIT, Vertcoin's development has made great strides toward making the lightning network more accessible through the Crypto App Project. This system essentially creates a complete banking ecosystem -- without the bank -- whereby users can access their lightning-compatible currencies via the lightning network at virtually no cost, anywhere. The user-friendly Crypto App and Crypto Card work in conjunction with the Crypto Box acting as a lightning node, enabling fiat-like instant transactions whilst preserving the security of the lightning network and ensuring that users retain direct custody of their private keys.
Vertcoin also offers a highly-intuitive user interface for casual miners to set up a mining rig with ease. The One-Click Miner offers one of the easiest user-friendly on-ramps to the mining experience in the cryptoverse, ensuring a greater degree of security by making mining broadly available to anyone who has a simple gaming rig in the household. Thus, Vertcoin is much more accessible and can be mined by anyone who desires to participate in the network. The goal of Vertcoin is, therefore, to achieve the dream once only imagined; for crypto users to "be your own bank".