What is VirtaCoin?
VirtaCoin (VTA) is an experimental new digital currency that enables instant payments to anyone, anywhere in the world. VirtaCoin uses peer-to-peer technology to operate with no central authority: managing transactions and issuing money are carried out collectively by the network. VirtaCoin Core is the name of open source software which enables the use of this currency.
Technical Specifications
- Scrypt proof-of-work algorithm
- 60 second block time target
- ~21 billion total coins
- 8000 coins per block, reduces by 0.5% each week starting 2/28/14
- Difficulty retarget every 1 block
For those new to cryptocoins/altcoins...
Cryptocurrencies are currencies that are digital. The differ from fiat currencies (such as the US Dollar) Because instead of being backed by a promise, Cryptocurrencies are backed by mathematics, since they are created by running a computer program that solve mathematical equations. This is called "mining". Any computer can participate, but the more power it has, the faster it will go (and the more coins you will get as a reward!). Mining also strengthens the blockchain. The coins you have are held in a digital wallet, which can be stored on computers, smartphones, and cold storage wallets (In VirtaCoin's case, on computers). You can use these currencies like you use digital money, basically just to transfer them to other people, not very different than using VirtaPay. As you can imagine, the adoption of any currency depends on what you can buy with it and how much people accept it!
How do I get VirtaCoins?
If you are a former VirtaPay member, and you have not yet gotten your VirtaCoins, you must go to the VirtaCoin official site, download the VirtaCoin QT Wallet, login to your VirtaPay account and you will see your balance, and your private key. For further instructions, click here.
Now, after that normally you either mine VirtaCoins, by following the directions here, or go to an exchange. See "Exchanges Below"
Exchanges
There are currently no exchanges for VirtaCoin right now, but VirtaCoin users have been asking exchanges. The list of pending exchanges is below. If you got VirtaCoin on a exchange's coin voting page or just asked an exchange that isn't listed, please message the mods.
Pending Exchanges
- Coin-swap (donation only) if 0.2 BTC is donated to following address, it will be added to the exchange automatically within 24-48 hrs: 1F5PsgYbvom1KCmjCug6UptUjhV74fxNs7
Wallets
- Paper Wallet Generator (Coming Soon)
Mining
Configuration Settings (From bottom of VirtaCoin website):
You may use the settings below in your virtacoin.conf file. You may also use the port numbers listed to configure mining software, firewall port forwarding, etc.
rpcuser=[choose-a-username]
rpcpassword=[choose-a-password]
server=1
daemon=1
gen=1
genproclimit=-1
rpcport=22815
port=22816
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