Vertcoin Considers Brand Update, Announces Developments of Fiat Exchange

The asset sank to new dollar lows, but continues to work on the technology and adoption.

Vertcoin (VTC) remains one of the last few community-driven coins that rely on organic adoption. Now, the digital asset considers a refreshed logo to add to its many new developments.

Vertcoin has the advantage of testing atomic swaps with compatible blockchains. The other advantage is that Vertcoin is committed to remaining a GPU-mined coin only, to avoid the arms race of ASIC mining. Unfortunately, Vertcoin seems to be abandoned by miners for now. The hash rate has slid by half since December, going from 3.6 TH/s to 1.8 TH/s, in a move that reveals a reluctance to mine a coin with a falling price. The halving of the block reward has also affected miners negatively.

The VTC market price slid along with other assets, down to $2.50, losing 13% net in the past 24 hours. Yet at this relatively low price, VTC is about to receive news on fresh releases related to the Vertcoin ecosystem.

Vertbase and Vertpig: A Fiat Ramp?

In March, Vertcoin may get a significant boost through the Vertpig and Vertbase services. Until now, VTC has mostly traded against Bitcoin, seeing depressed prices due to being sold off to buy the leading coin. However, the project has aimed at creating its own fiat-based exchange, allowing for a very different price discovery mechanism.

Coins that have a fiat on-ramp tend to have their own path of development, and Vertcoin may get a boost from the additional exposure. The Vertbase and Vertpig services were announced back in December, contributing to the price spike. But now, as they are almost ready to be launched, more VTC buying may be seen.

The fiat exchange is  a community project, and little is known about how the service would work in light of the potentially harsher regulations from the US authorities. Yet the first launch may be for UK-based investors, with VTC denominated in British Pounds. In the pre-registration, UK residents would be given priority.

VTC is mostly traded on Bittrex and Upbit, but has a small fiat on-ramp through Litebit.eu.