Viacoin positions itself as the first cryptocurrency to implement OP_CHECKLOCKTIMEVERIFY, a crucial component for Lightning Network and atomic swaps.
What is Viacoin (VIA)?
Viacoin is an open-source cryptocurrency derived from the Bitcoin protocol, created in 2014. It boasts a total supply of 23,176,392 coins and a block time of 24 seconds, providing transaction speeds 25 times faster than Bitcoin. Viacoin can execute up to 175 transactions per second through scaling solutions like Segwit or the Lightning Network, making it ideal for fast (micro) transactions.
With Viacoin, you can perform inter-chain atomic swaps between different cryptocurrencies without the need for 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) for increased security and broader compatibility with altcoins.
Moreover, Viacoin utilizes merged mining, also known as ‘AuxPoW.’ This allows miners to mine multiple blockchains simultaneously. A miner can mine Litecoin and Viacoin or any other Scrypt-based coin at the same time. Miners are incentivized to mine Viacoin even for lower rewards, resulting in a significantly high network hashrate which greatly enhances network security.
Viacoin has also adopted SegWit. Segregated Witness reduces the size of transactions and addresses the issue of UTXO growth. It aims to increase the number of transactions per block by two or three times while simultaneously speeding up block synchronization for new nodes. Viacoin will integrate other features like Schnorr signatures to further reduce transaction size and costs.
Viacoin is ready for the Lightning Network. This shifts the majority of transactions to off-chain payment channels, allowing for several orders of magnitude improvement in transaction volume. This enables the network to handle billions of transactions per second.
Where to Buy VIA Coin?
VIA Coin can be quickly and securely purchased through Binance, the world’s largest cryptocurrency trading platform by trading volume.
To buy VIA Coin, you first need to sign up for Binance and then send fiat money. After sending a fiat currency like US dollars, you can buy Bitcoin (BTC) and perform a purchase transaction in the VIA trading pair.
In addition, on Binance, users can place a buy order not only at the market value but also at a lower price. To do this, you just need to use the Limit tab and enter the amount and price you want to buy at.
