About ViaCoin
Overview
Viacoin is an open source cryptocurrency created in 2014, derived from the Bitcoin protocol. Viacoin has a total supply of 23,176,392 coins and has a 24 second block time, resulting in a transaction speed 25x faster than Bitcoin. Viacoin can handle 175 transactions per second without scaling through Segwit or Lightning Network, making it perfect for fast (micro)transactions.
With Viacoin you can perform cross-chain atomic swaps between different cryptocurrencies without using centralized exchanges.
Viacoin was the first cryptocurrency to integrate Peter Todd's OP_CHECKLOCKTIMEVERIFY BIP 65 proposal. Our atomic swap contract uses SHA256 secret hashes (instead of RIPEMD160) as it is more secure and has wider compatibility with altcoins.
Mining and Security
Viacoin uses merged mining, also known as 'AuxPoW'. This allows miners to mine for more than one blockchain at the same time. A miner could mine Litecoin and Viacoin or any other Scrypt coin simultaneously. Miners have an incentive to mine Viacoin, even if the reward is low, as they are able to mine Viacoin for “free”. This results in a very high network hashrate, which highly increases the network security.
Technology and Features
Viacoin has adopted SegWit. Segregated Witness helps to shrink the size of a transaction and cope with the UTXO growth. It also aims to increase the per-block transaction throughput by a factor of 2 or 3, while simultaneously making block syncing faster for new nodes. Viacoin will also integrate other features like Schnorr signatures, which will help lowering the transaction size and costs.
Viacoin is ready to use the Lightning Network. This enables improvements of several orders of magnitude in transaction throughput by moving the majority of transactions outside the consensus ledgers into payment channels. This allows millions to billions of transactions per second across the network. A capacity that blows away legacy payment rails.