Vcash releases version 0.4.9 RC1. The countdown for ZeroLedger begins.
Vcash is a privacy and speed-focused cryptocurrency that solves many of the known problems and shortcomings in Bitcoin. It allows any transaction to arrive to its destination within 0.23 seconds and to be spendable in 1 minute with 0 confirmations thanks to the implementation of Zerotime. Furthermore, Vcash has a built-in mixing feature that allows its users to make anonymous transactions without the need to use third-party mixes that remove the trustless element native to cryptocurrency use and can cause fungibility problems.
One of the problems that has lead to the biggest debate in Bitcoin history, the block size dilemma, has been taken care of due to Vcash’s adaptive block size rate, in which the following block size is calculated according to the last 220 blocks, allowing the blockchain to scale according to its use with unlimited transactions per second (tps), which were previously limited to 100 tps on-chain, and 15k tps off-chain. Bitcoin pales in comparison to this system with 10 minute confirmation times and a maximum capacity of seven transactions per second.
Vcash has recently released another update in a steady stream of developments that has been previously outlined in this forum post. This update includes the support for deterministic wallet key generation, the ability to restore a wallet from a seed that is comprised of a combination of random words.
“To create a deterministic wallet run the software and then exit it. Delete the empty wallet.dat file. Next, edit the config.dat and set the key “wallet.deterministic” to “1”. Launch the software and the deterministic wallet will be created. In future releases this feature will be enabled by default.” – John Connor
John Connor, Vcash founder and developer, has also recently announced the ongoing development of ZeroSlot, the fastest cryptocurrency-powered slot game ever made. ZeroSlot is an open-source project that will be able to process 1000 bets per second, way more than what its Bitcoin-based predecessor, Satoshi Dice, was ever capable of due to the limitations of Bitcoin itself. Furthermore, physical ZeroSlot machines, powered by Raspberry Pi and ZeroLedger core, will also be built. These machines will be nine times faster than a normal slot machine and all slots have been removed, and replaced with OLED readouts.
“The zeroslot.com website will be 100% autonomous and does not earn any profit…zeroslot.com is purely for fun and to show what ZeroTime can achieve. – John Connor
The development of ZeroLedger, the technology that will allow users to download the entire blockchain in record time is also ongoing and the new feature will soon be released. The technology behind ZeroLedger is yet unknown, but it will allow users to access all the benefits Vcash provides in seconds.