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Viacoin is an open-source cryptocurrency that was created in 2014, deriving its framework from the Bitcoin protocol. Unlike Bitcoin, Viacoin offers faster transaction speeds, being 25 times faster due to its support for innovative technologies such as Segregated Witness (SegWit), Auxiliary Proof-of-Work (AuxPoW), and the Lightning Network. Viacoin also facilitates embedded consensus through an extended OP_RETURN of 120 bytes, enabling secure micropayments and other digital applications.
Viacoin enhances transaction speed and security by incorporating key technologies such as Segregated Witness (SegWit) and the Lightning Network, which optimize block size and enable off-chain transactions, respectively. The use of the Script hashing algorithm further increases security, while Auxiliary Proof-of-Work allows Viacoin to be merge mined with other Script cryptocurrencies like Litecoin, enhancing network resilience and block validation efficiency.
Viacoin offers several benefits for digital payments, including high transaction speed—up to 25 times faster than Bitcoin—and flexible transaction handling, supported by its extended OP_RETURN for secure micropayments. Its technology stack that includes SegWit and the Lightning Network enhances scalability and reduces costs. Additionally, Viacoin's low inflation rate, further ensured by regular block reward halvings, provides economic stability.
Viacoin manages inflation through a strategic mechanism of halving the block rewards every six months, which helps maintain a low inflation rate by gradually reducing the number of new coins entering circulation. This controlled issuance supports Viacoin's economic model by increasing scarcity over time, similar to Bitcoin’s method, thereby aiming to preserve the coin’s value in the long term.
Viacoin holds relevance in the cryptocurrency industry by providing a fast and flexible alternative to Bitcoin. Its robust technological infrastructure supports quick micropayments and other digital transactions, making it suitable for modern commercial needs. Viacoin also supports merged mining with Litecoin, enhancing its utility. Despite a current zero trade volume, its resilience and innovative features make it a noteworthy option in the world of crypto finance.
If a Viacoin transaction is stuck, it is advisable first to check the transaction status on a Viacoin block explorer to confirm its network broadcast status. Often, delays can be due to network congestion or insufficient transaction fees. Consider sending a higher fee through the replace-by-fee (RBF) option if available, or check your wallet settings for any issue that might have caused the delay. For persistent issues, consult with the Viacoin community or support resources on their website.
Viacoin is a fast, scalable cryptocurrency designed for efficient digital payments.
Viacoin is conceived as a faster alternative to established cryptocurrencies, focusing on providing not only speed but also a significant leap in scalability through various technological innovations. It addresses challenges in transaction efficiency with a considerably reduced block time of around 24 seconds and leverages Segregated Witness (SegWit) alongside the Lightning Network to handle extensive transactional loads by facilitating off-chain payment channels and reducing individual transaction sizes. This strategic integration enables Viacoin to support efficient microtransactions and real-time payments, addressing the need for a practical digital payment system. Furthermore, atomic swaps are effectively harnessed within its framework for trustless and decentralized cross-chain transactions, ensuring seamless interoperability across different cryptocurrency networks. Standards like Schnorr signatures facilitate empowered multisignature transactions while optimizing resource usage. The project's future direction also includes planned integration with Rootstock smart contracts to support decentralized applications (dApps), further solidifying its position in the blockchain ecosy...
Viacoin is conceived as a faster alternative to established cryptocurrencies, focusing on providing not only speed but also a significant leap in scalability through various technological innovations. It addresses challenges in transaction efficiency with a considerably reduced block time of around 24 seconds and leverages Segregated Witness (SegWit) alongside the Lightning Network to handle extensive transactional loads by facilitating off-chain payment channels and reducing individual transaction sizes. This strategic integration enables Viacoin to support efficient microtransactions and real-time payments, addressing the need for a practical digital payment system. Furthermore, atomic swaps are effectively harnessed within its framework for trustless and decentralized cross-chain transactions, ensuring seamless interoperability across different cryptocurrency networks. Standards like Schnorr signatures facilitate empowered multisignature transactions while optimizing resource usage. The project's future direction also includes planned integration with Rootstock smart contracts to support decentralized applications (dApps), further solidifying its position in the blockchain ecosystem.
