Bitcoin and Vertcoin Comparison Table/Chart
|Definition (What is Bitcoin/Vertcoin?)||Open source Peer-to-Peer Money (peer-to-peer technology to facilitate instant payments)||Open source Peer-to-Peer Money (peer-to-peer technology to facilitate instant payments)|
|Launch Date (the first block ever mined)||January 03, 2009||January 10, 2014|
|Max Supply (all coins that can be mined in total or the maximum amount of coins that will ever exist in the lifetime of the cryptocurrency. It is analogous to the fully diluted shares in the stock market)||21,000,000||84,000,000|
|Proof of Work or Proof of Stake (Proof of Work - The miner who solves the puzzle first confirms the most recent block of transactions on the blockchain. The successful miner then broadcasts the new block to all other nodes, which in turn confirm its accuracy and add that block to their copy of the blockchain, building a verifiable record of data for the whole network. This verification process represents consensus. Proof of Stake - The proof of stake algorithm does not depend on computers competing with each other for generating the suitable hash. On the contrary, the PoS protocol focuses on determining participation according to ownership of the coin supply. Basically, proof of stake consensus replaces computational power with currency power. Therefore, the ability for validating transactions depends on the ‘stake’ of the user in the network.)||Proof of Work (POW)||Proof of Work (POW)|
|Algorithm (cryptographic algorithm that generates a "hash," a string of numbers and letters that verifies the information's validity but does not reveal the information itself)||SHA-256||Verthash|
|Mining Hardware||Bitcoin mining hardware (ASICs) are highly specialized and expensive computers used to mine bitcoins.||Vertcoin mining hardware (GPUs) are every high-end gaming graphics processing unit (on any 2GB or higher GPU), also called graphics card or video card used to mine vertcoins.|
|GPU Mining (the use of a gaming computer's graphics processing unit to solve complex math problems to verify electronic transactions on a blockchain)||No / ASIC mining||Yes / + 2 GB GPU|
|Easy Mine & Game (mining while gaming)||No||Yes, Easy Mining with One-Click Miner|
|Block Time (Speed of Transactions on base layer)||10 minutes||2.5 minutes|
|Initial Block Rewards (Bitcoin/Vertcoin block rewards are new bitcoins/vertcoins awarded to cryptocurrency miners for being the first to solve a complex math problem and creating a new block of verified bitcoin/vertcoin transactions)|
"Coins have to get initially distributed somehow, and a constant rate seems like the best formula."
– Satoshi Nakamoto
|50 BTC / block||50 VTC / block|
|Current Block Reward (the bitcoin/vertcoin protocol specifies that the reward for adding a block will be reduced by half approximately every four years)||6.25 BTC / block||12.5 VTC / block|
|Last 30 Days (the total number of coins created in 30 days)||27,000 coins||432,000 coins|
|Next Halving Date (approximately every four years)||May 2024||December 2025|
|Next Block Reward||3.125 BTC / block||6.25 VTC / block|
|Fees Per Transaction (everyone who sends coins must pay a fee, transaction fees are paid to miners while transferring Bitcoin/Vertcoin in order to have your transaction processed by miners and they encourage miners to confirm Bitcoin/Vertcoin transactions and secure the network)||0.00005 BTC|
|Segregated Witness (SegWit, is the process by which the block size limit on a blockchain is increased by removing signature data from transactions that are included in each block. When certain parts of a transaction are removed, this frees up space or capacity to add more transactions to the chain)||Yes||Yes|
|Lightning Network ("Layer 2" is a decentralized system for instant, high-volume micropayments that removes the risk of delegating custody of funds to trusted third parties)||Yes / Layer 2||Yes / Layer 2|
|Transactions Per Second on Layer 1 (On-chain)||7 |
transactions per second
transactions per second
|Transactions Per Second on Layer 2 (Lightning Network)||Capable of millions to billions of transactions per second across the network.||Capable of millions to billions of transactions per second across the network.|
|Submarine Swaps / Atomic On-Chain To Off-Chain Swaps (an atomic cross-chain swap is a distributed coordination task where multiple parties exchange assets across multiple blockchains, for example, trading Bitcoin for Vertcoin)||Yes||Yes|
|Taproot (improve privacy and ability to create complex smart contracts)||Yes||Yes|
|Blockchain size (A blockchain is a growing list of records, called blocks, that are linked together using cryptography. It's also described as a "trustless and fully decentralized peer-to-peer immutable data storage" that is spread over a network of participants often referred to as nodes. Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data.)||367 GB (Gigabyte)||7.35 GB (Gigabyte)|
|Resume... “Hey, can you go slow with this? <..> Look, I don't care if people hoard the Bitcoin, I don't care if the wealth is concentrated. But right now, the big attraction is that anybody can download Bitcoin and start mining with their laptop.” – Satoshi Nakamoto, 2010||Nowadays Bitcoin is profitable only for large ASIC farms. Which is a prerequisite for centralization with small number active miners.||Nowadays Vertcoin is profitable for everyone with high-end gaming graphics processing (on any 2GB or higher GPU). Which is a prerequisite for decentralization with a larger number of single active miners.|
3 thoughts on “Vertcoin vs Bitcoin”
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