Making Use of Information Technology to Make Business Transactions Easier

Image Credit: global-view.com
Image Credit: global-view.com

Due to the advancement of Information Technology, businesses have no choice but to embrace it so that they can cater to more clients and increase their visibility throughout their target market. This advancement is something that all companies have to embrace in order to cater to their growing number of clients.

Before, companies would only receive clients via telephone calls. The process is manual and tedious but when companies were still starting, it was okay since there are still a few clients. But because of growing popularity, clients increase and they had to adapt. Since then, more and more companies opened online website and clients can then contact them online. Customers can send requests by filling out information on whereabouts and situation, and on what product or service customers wish to avail. This way, offices are not flooded with calls from time to time. The online transactions also help create an organized list of their clients and programs are able to help them chart the schedules and situations of each and every client, as well as the address and urgency of the matter.

Another factor for companies success is the fact that their clients become loyal to them after hiring or purchasing from them for the first time. The satisfaction they bring to their customers through the quality of their work is something noteworthy. And, this quality is and quick service is made possible because they were able to offer online transactions for their clients.

Indeed, technology has changed the face of almost everything. Even businesses cannot globally compete without needing technology, or simply the internet for that matter. Local businesses also reap plenty of benefits from online transactions with customers, because it allows them to cater their products and services to people that are not even in the locality, or they attract people towards their establishments. All they have to do is put up an updated and appealing website, or social media page.

Technology brings so much ease and makes jobs lighter. Hopefully, all business people are able to embrace this.

We, vertcoin miners, are also a great big family of internet dependent people. Of course, vertcoin transactions are entirely made online and we have to always be updated, thus, the need for constant internet access. Without it, nobody would even be vertcoin mining at all and the issues of vertcoin, bitcoin and litecoin would not even surface.

There is a lot about the internet that even the geekiest of geeks still has to discover. It is astonishing how it does not seem to run out of things to offer.

What is Vertcoin?

Image Credit: coinjoint.info
Image Credit: coinjoint.info

Well, some of you may already know what vertcoin is and you’re here to look for updates. You can just check out my next entries for that. For now, I would like to talk about what vertcoin is.

Vertcoin is a cryptographic currency, just like Bitcoin and Litecoin. They have the mission to become a decentralized currency. The problem that was encountered by bitcoin and litecoin is that they were vulnerable to monopoly.

Bitcoins

Millions have been spent by different companies in building the ASIC computers or the Application Specific Integrated Circuit computers so that they could be the first to monopolize mining of bitcoins.

As a result, bitcoin was centralized and thus, it became vulnerable. Its computational power is largely handled by data centers.

Litecoins

This cryptographic currency attempted to use Scrypt hashing algorithm, a program even more intensive and more memory consuming than ASIC.

Chips for mining these two currencies are being deployed by the Chinese. It could even be bought online through their respective online networks.

Vertcoin

Because of the many problems posed by the two previous currencies, vertcoin is being released as the logical evolution of the two. The previous currencies did not have enough memory requirements to lock out the troubles caused by ASIC.

Vertcoin has the feature called “Adaptive N-Factor” wherein the N-factor is derived from Scrypt which then determins how much memory is required to compute for the hashing functions. The difference from Litecoin is that vertcoin N-factor increases with time so that it could always be one step ahead of any signs of ASIC development in the system. When it is detected earlier, actions can be made.

The latest for vertcoin comes in the form of Lyra2RE. This is another step taken towards totally erasing the possible invasion of ASIC in the new cryptographic currency.

Lyra2RE is almost similar to the Scrypt-N mining algorithms. They both can reduce mining efficiency over time. The difference is that Lyra2RE is NIST5-based and it can be customized to set the parameters accordlingly.

As vertcoin strives to prevent monopolized mining through Scrypt-N, ASIC functions have also evolved since its invention and the battle to always be a step ahead will always be present. Thus before ASIC could even succeed on penetrating the Scrypt-N algorithm, Lyra2RE has been made to advance further from ASIC.

Lyra2RE also consumes less power and it is flexible to the point that developers can change memory usage and time cost.

The biggest difference between the two is that Lyra2RE does not use the N-schedule like Scrypt-N does. However, it can use that function if the situation calls for it, making Lyra2RE update of the vertcoin a very great tool at the moment.