What is vTorrent (VTR)?
vTorrent is the world’s first decentralized crypto-currency client with built-in access to the 150 million to 250 million monthly Bittorrent user network.
vTorrent (VTR) is an open-source, decentralised cryptocurrency launched in late 2014 as a fork of Shadow (SDC). The most distinctive (planned) feature of the software project was the incorporation of a BitTorrent client into the vTorrent wallet, thus trying to appeal to the many BitTorrent users while making the currency transactions more anonymous and difficult to trace.
On a technical side, the coin was launched using the proof-of-work consensus mechanism and scrypt as the hashing algorithm to generate the initial pool of tokens (there was a 3% pre-mine), but was gradually moving to a proof-of-stake phase with a 5% interested rate payed to the "stakers". The vTorrent wallet is an advanced graphical software with some interesting features, such as anonymous chat, blockchain explorer and even an option to trade cryptocurrencies on the Bittrex exchange.
vTorrent developer shows blockchain torrent functionality
Founded in 2014, vTorrent has been under development for over 4 years which signals some kind of developmental roadblock for the team. The project was abandoned over 2 years ago but has since resumed development since the team’s announcement in May 2017.
Some of vTorrent’s features include:
- 2FA security
- Anonymous social networks
- HD back-ups
- Encrypted chat
- Transmission of content with paid seeding
You can currently download version 0.8.1.1 here.
Analysis
vTorrent has remained relatively stable amidst the cryptocurrency bloodbath in January 2018 signally a low correlation to the market. This project is relatively under the radar but also lacks the road map, marketing and project budget larger coins possess. VTR is also only traded on Bittrex (Bittrex.com) at the moment, giving it little exposure and low growth potential in the short term without a product development road map.
Cryptovate is not bullish on this opportunity at this moment but is keeping VTR on a watchlist for future developments and product releases. Being one of the first blockchain torrent softwares in the market with an existing MVP, vTorrent has the potential to become an industry leader if it can revise their business strategy and restore communication with the community.
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Resources
Official Website
Network Information
Source Code
Whitepaper
Disclaimer: Research publications are furnished by independent authors on the Cryptovate team. You are not obtaining any advice from Cryptovate Investments. You should always consult with your advisers before making any investment decisions and should you have any questions as to the laws that govern our cryptocurrency research, you should consult with your legal or investment advisers.
Thanks for sharing this project. Whenever an idea is improved with a decentralized model it has much greater prospects and ability. Great post!
Ty for the info! I was wondering if such kind of cryptocurrency exists. I hope the development team will do a good job. I see a lot of potential in the project.