Frequently Asked Questions

What could you say about Vanillacash emission model?

Vanillacash (XVC) is a well-proven digital currency and an early adopter of advanced coin features that today may appear standard, but at the time of their introduction were truly on the “cutting edge” of the cryptosphere! In addition to successfully deploying hybrid proof-of-work (PoW) and proof-of-stake (PoS) coin generation, XVC was also able to integrate instant transactions, early masternode implementation, as well as highly innovative privacy features. The hashing algorithm is based on Blake256 8-rounds variant. Difficulty is retargeted every block.

Vanillacash features variable block time targeting of between 80-200 seconds, and the initial per-block reward of 128 coins is now reduced to only 1 XVC. In fact, this dramatic reduction in block reward places vanillacash among some of the highest stock-to-flow cryptocurrencies on the market today (see EWMCI Stock-to-Flow Index for more information).

Currently, the block reward is capped at 1 XVC per PoW-mined block. Proof-of-stake coin generation, based on Peercoin code, remains the dominant method of XVC inflation. New vanillacash coins are increasingly more difficult to generate, with only about 50% of the 30.7 million hard cap in existence. Moreover, due to somewhat turbulent 2018 post-crash crypto environment, many XVC coins are lost, permanently out of the circulation.

What is a “staking”?

Proof-of-Stake (PoS) refers to the use of currency itself (e.g., your ownership of Vanillacash) to achieve certain pre-defined goals. In Vanillacash network, PoS is used to provide minting and transaction processing alongside the PoW capability to do the same. This provides an important redundancy and increases overall blockchain security.

Because at the “network-level” there will are multiple active participants who “stake” their coins, a significant number of coins (e.g., collateral) will be present on deposit (and thus not free to move or be spent). This, in turn, stabilizes the network and protects it from malignant, third-party actors by making attacks costly, impractical, and in effect self-destructive.

How is Vanillacash energy efficient?

The enhanced energy efficiency of Vanillacash refers primarily to the long-term benefits of PoS (and more recently multi-platform tokenization or MPT). This is because Vanillacash is not dependent on the use of energy-hungry PoW coin-generating application-specific integrated circuits (ASICs), thus reducing the overall network energy consumption and reducing its environmental impact.

At the same time, PoW is the most practical way of supporting the early phase of minting of a cryptocurrency like Vanillacash. Because of this, the original developer team decided to keep PoW as part of Vanillacash’s hybrid design. To further optimize energy efficiency, we transitioned to the currently utilized and more environmentally friendly Blake256 8-round algorithm.

In our gradual transition toward decentralized finance (DeFi) the innovative approach of multi-platform tokenization (MPT) further reduces Vanillacash’s dependency on energy-hungry ‘mining rigs’ while allowing faster, more efficient transactions and seamless ways of ‘swapping’ assets. Moreover, DeFi applications also bring with them new options for storing value and trading Vanillacash in essentially unlimited, user-controlled fashion.

Why did you decide on the current name and logo?

Vanillacash (XVC) has a long and at times turbulent history. Its original precursor is vanillacoin (VNL) which was significantly upgraded in mid-2017 and re-branded to the current name at that time. It is well recognized that the name ‘vanillacash’ is quite popular and attractive, and has significant branding power. The traditional logo, or the stylized letter “V” presented the current team with some challenges related to brand recognition. In all, there are more than 10 projects with “V” themed logos, and it is very easy to become confused about “which is which” among this “vee-too” crowd. Consequently, a decision was made to move forward with a new logo, one that would be as unique, recognizable, and attractive as the ‘vanillacash’ name. During our work on the optimal design, we opted to go with the image of a vanilla leaf… something that no other coin can truly claim or imitate while at the same time providing a powerful brand identity that is clearly tied to our coin’s name.

How can I acquire Vanillacash?

There are three main ways of acquiring Vanillacash (XVC): [1] Purchase with fiat currency using a specialized vendor, such as BexCrypto [2] Exchanging other cryptocurrencies for XVC on platforms such as FreiExchange , FreiXLite or AtomicDEX and [3] Selling goods or services for XVC, using platforms such as the EWMCI Shop .

Where can I store my Vanillacash?

There are several ways of securely storing Vanillacash (XVC): [1] Our desktop Qt wallet [2] The state-of-the-art AtomicDEX multi-wallet and [3] The Gemmer Wallet by Primecoin . In addition, we are working on our own, native EWMCI wallet platform called CoinMunityWallet .

For users of our multi-platform tokenization (MPT) ecosystem, the following wallets can be used: [1] AtomicDEX [2] Trust Wallet and [3] SafePal Wallet

Why did you choose multi-platform tokenization (MPT)?

Multi-platform tokenization was chosen as our strategy for several reasons. Most importantly, the original codebase would require massive upgrades, many of which would effectively negate the original intent of the XVC hybrid PoW / PoS coin generation protocol that features privacy and other unique elements. Thus, upgrading the coin would mean that various elements of the original Vanillacash would be lost forever. In addition, modern decentralized finance (DeFi) platforms are mostly incompatible with UTXO-based cryptocurrencies like XVC. Consequently, the most optimal approach to allowing our users to enjoy DeFi while preserving both the value and the relevance of XVC was to embrace 1:1, non-inflationary tokenization.

Our intent is not to dispute, or depart from, the essential nature of the UTXO origins of Vanillacash. To the contrary, the critical importance of the original codebase and XVC blockchain is fully preserved because it remains the ONLY way to generate new Vanillacash! Finally, why “multi-platform” tokenization? Well, various platforms enjoy different levels of success, and dependence of a single platform would potentially expose XVC to becoming marginalized if that particular tokenization platform did not gain sufficient popularity. Thus, “multi-platform” provides the best odds of XVC prospering well into the future!