Viacoin Mining in a Nutshell
Viacoin is designed to make micropayments secure and cheap. And, VIA architecture is drawn from the Bitcoin protocol.
The blocktime of VIA is just 24 seconds. That is, transactions get confirmed much faster than you see with Bitcoin.
Moreover, VIA has atomic-swap feature built-in. Without using any third-party exchange, you can purchase other compatible cryptocurrencies with Viacoin and vice-versa.
VIA token has implemented SegWit – that is, segregated witness, where witness data is maintained separately from the block. This way more transactions can fit in a single block. And that leads to faster transaction processing.
Viacoin is Lightning Network ready. It enables faster transactions by taking some transactions off the blockchain.
Also, Viacoin core – similar to Bitcoin core – and Viaelectrum wallet, both can be accessed using Tor network for better privacy.
The total supply of VIA is 23,176,392 tokens. And has a current supply of 23,074,190 VIA tokens.
The mining is based on Auxiliary Proof of Work (AuxPoW) using the scrypt algorithm. So, VIA token can be merge-mined with any compatible scrypt based cryptocurrency like Litecoin (LTC).
The block reward is 0.78125 VIA. It is shallow as the price of VIA is 1.44 USD, at the time of writing. Considering that, Viacoin does not seem to be worthy of mining. Anyhow, it is merge-mined. So, having something more alongside would not hurt if you are mining other script algorithm based cryptocurrencies.
Moreover, mining reward is reduced by 50% every six months.
The official site has wallets listed for Windows, Mac OS, Linux, and Android platforms. Also, paper wallet service is available.
Mining Viacoin doesn’t feel worthy on the surface. But with 24 second block time and AuxPoW, even one dollar every day could become worthy in the long run. And you would have to put little to no effort.
Would you mine VIA token considering the low reward? Comment below.