Vialcoin (ViC) was born over a year ago, with the aim to create a fairly distributed cryptocurrency that is social, transparent and has build in mechanisms to keep the fairness long after the initial distribution has been completed.
Because the project is very low budget, never attempted an ICO and never managed to raise enough interest for more people to join and help me build, it remains a dream, and maybe an example for more resourceful people who share my opinions.
I’ll keep sharing similar projects that have either UBI (universal basic income), or different mining mechanisms, interesting coins to watch and news of great interest for cryptocurrency lovers, carefully curated from the best sources.
The ViC Token
For now, Vialcoin exists only as a token on the Waves platform. Waves has been chosen due to it’s ease of use, very fast transaction speed and it’s integrated decentralized exchange, meaning the token is instantly listed on at least 1 exchange.
Now ViC is more like a risk free tutorial for people who don’t own any crypto and would like to go through the process without having to pull out their bank details.
No value is claimed for the coin other than what existing users are selling and buying it for, and it’s purpose is educational only!!
Because we’re trying to build a cryptocurrency that’s fair, transparency is very important, but everybody loves crypto for the anonymity, so we plan to combine both privacy and individuality in our future coin. By combining the security login with bio-metric blockchain solutions like The Key, every user will only have One wallet in our network. We strive to be social, but if a user prefers anonymity, he/she can still use the wallet and the network under a pseudonym.
Mining will be done through the wallet, and mining power limited per user, ensuring everybody’s mining at the same rate and everybody’s vote has the same weight. This will makes us not just the most decentralized coin, but also impossible to suffer a 51% attack.
Social media and vendor tools will be added. Trust scores and feedback will help us build the most robust cryptocurrency environment.
Transactions fees will be a small % of transaction value. If a cryptocurrency will be a instrument of wealth re-distribution and balance, it cannot have a fixed fee for transactions. All fees will go back to the miners
Blacklist option available for deals that go sour. Miners will have a option to blacklist a wallet they transacted with, meaning they will never process any transactions for that user with their mining power. If somebody get’s blacklisted frequently, their transaction speed can be reduced down to 10 years.
Decay will occur if no transactions (sent or received) have been made for over 6 years, and it means that all the funds in the decayed wallet go back to the mining funds.