Vanillacoin (VNL) is a little known alternate cryptocurrency that has been around a little over a year. It is traded on the Poloniex and Bittrex exchanges which have seen recent 24 hour trading volumes approaching $120,000. For much of the past year it has been fairly quiet and unnoticed by most traders with average daily trading volumes of under $10,000 and with an all time high (ATH) of 0.00044057 VNL/BTC recorded on August 3, 2015.
What is most interesting with this latest surge of interest is that the latest VNL trading volume is 2-3 times that of its all ATH volume, which according to coinmarketcap, was $36,277.
This is quite a turn of events, in that recent trading has been in the sub 0.0001 VNL/BTC range and volumes have been non-existent at times.
Some of this may have to do with the fact that Vanillacoin has been a bit of a controversial coin, with some claiming that its code is based off Bitcoin and or Peercoin, which the developer disputes, and that the proper attribution to these coins was not noted in the source code. Then there is the fact that some in the community are not fans of the name, thinking Vanillacoin is a bit blah sounding and not all that exciting.
Regardless of its past perception, it certainly seems to has garnered interest as of late. Recent postings on the official Vanillacoin Forums may hint at what all the renewed excitement is about.
It may pay to keep an eye on Vanillacoin as it looks like some interesting developments are in the work, including a possible re-branding to VCash?
According to the developer, who goes by the pseudonym John Connor, Vanillacoin is not a clone of Bitcoin or Peercoin, it was engineered from the ground up and is designed to be innovative and forward-thinking. It prevents eavesdropping and censorship and has security in mind. It also promotes decentralized and energy efficient network transactions at sub second speeds.
30.7 million coins.
Variable block time targeting 80-200 seconds
128 coins per block initially.
Difficulty is retargeted every block.
Blake256 Proof-of-Work algorithm.
0.7% interest rate by use of energy efficient Proof-of-Stake.
0.0005 coin per kilobyte transaction fee.