What is Virta Unique Coin [VUC]?
Virta Unique Coin [VUC] focuses on privacy and encrypted peer-to-peer messaging. It stresses several other features although the description explaining these in greater details are still missing. The features they will be focus on include as follows;
- VUC Crypto School
- Escrow services in block chain
- VUC ATM
- Rewards for running nodes
- Fast confirmation times (fast transaction speeds) > I have been unable to verify this yet.
Virta Coin Unique is a fork of the original older VirtaCoin that was launched on the 2nd July 2014. The fork went live on the 14th July 2017. To make it even more confusing it also appears that VirtaCoin is a fork of an older coin, that I failed to find an ANN thread for, originally named VirtaPay.
Should you own any VirtaCoins you’d be able to exchange these into the new Virta Coin Unique crypto instead. The swapping dates however, was reserved to just a 2 weeks period, between June 21st and July 5th. In all honesty, that period appear too short. This should either have been a fully automated process OR having given consumers an extended period of time to exchange their coins in. The coins were swapped at a ratio of 1000:1, due to the higher coin supply of the original VirtaCoin.
The good news is that we can confirm that the development crew has been dedicated to the coin’s progression and development since 2014. That is three years. Most coins die within the first six months to a year. So that they have been this dedicated for this period of time, is a good sign. I’d just recommend that if you do venture into investing or mining this coin, that you stay up to date on the coin’s development at least once a week – in case there are other other similar developments, as in the past.
What is the maximum coin supply?
Prior to the fork the original VitaCoin had a total supply of 21 billion coins. After the fork to VitaCoinUnique (VUC) this has been reduced to a much more reasonable 120,000,000 maximum coin supply. This should ensure a higher trading price long term and overall give traders more trust in the coin.
By staking your coins already now in the wallet, you are guaranteed a 5% interest per year.
Roadmap – Long term plans
2017: Travel Portal
There is limited information currently available on what this specifically entails. Currently all that is stated is the general market overview and that they plan to combine travel solutions and blockchain technology together. Seeing as this is to be released in the next coming months, we should all be a bit wiser on this front soon. When there are any news on this front, rest assured I will tweet about it. So follow me here to get notified.
2018 Q1: VUC Crypto School
They plan to deliver blockchain education to a younger audience. The description on this is a bit vague as this point in time and leaves much to be desired still.
2018 Q2: Escrow
Escrow payments we are all aware of what are. They intend to bring the escrow services into blockchain where your funds are held securely until the other party delivers their commitment, and visa versa. It protects the buyer as well as the seller. It will be interesting to follow just how they plan to implement this solution.
2019: VUC ATM
They are overselling this one just a bit. Claiming that this will be the most featured ATM ever, which is a rather bold statement. The question is just how many features the end-user actually need here. All that is needed is an ATM that works for transactions and that is available across geographical locations. It is a big undertaking but if they prove to be successful, they will be just one of a short list of altcoins that have their coins available across ATMs. Definitely an item to follow.
Overall I feel that there is a slight misalignment in what they are trying to achieve with VirtaCoinUnique. Their roadmap feels a bit too wide, unsynchronised and uncoordinated. At the core VUC (Virta Unique Coin) focuses on anonymity, security and fast transaction speeds, like most other altcoins at the moment, and then their roadmap has a disjointed list of items. I am guessing they felt there was some gaps in the market and therefore tried to fill as many as they could. It just feels like an odd mix with crypto-school, ATMs, Escrow payments and a travel blockchain solution? I’d much prefer they went with a more coordinated set of items/features that all went in the same direction. But despite of my reservations it certainly does not mean that the coin cannot be successful either – if it manages to deliver on the items they have proposed and in a timely fashion. It is also worth noting that the coin is trading at just $0.01 currently, which gives it a marketcap of 1.2 million dollars – which does not appear inflated at all.
Where can I buy/trade VirtaCoinUnique?
The VUC team has managed to get the coin live across five different exchange sites, all smaller ones, where the best sites by far are the exchange sites I have recommended here below. Click either of the links and you are taken directly to the exchange site.
Can I mine VirtaCoinUnique?
Yes! I will be covering this is greater detail in a separate How to mine post later tonight. Follow me on Twitter here to get notified when my next article is out.
VitaCoinUnique Bitcointalk ANN Thread: https://bitcointalk.org/index.php?topic=1966621.0
VitaCoinUnique Bounty Thread: https://bitcointalk.org/index.php?topic=2038188.0
VitaCoin Bitcointalk ANN Thread: https://bitcointalk.org/index.php?topic=673775.0