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Victorium — A new kid on the block made their way onto the market with claims to be a new cryptocurrency exchange that would trade in it’s own currency of Victorium (VIC). With the likes of Cryptopia, Coinbase, Stocks.exchange and many others eating up market share it may be tough for Victorium to push into the exchange sector of the industry.
Not only does VIC want to tackle the exchange market and simplify trading, they plan to make smart contracts easier to understand for the every day crypto user. Their plan to achieve this feat remain to be seen as of yet. They do make a bold statement by saying “we are going to create the language for writing Smart Contracts so that people can freely use it.” as seen on their subreddit.
In a document sent to me by the user “Victorium” who made their way into our Discord server and educated me on their new coin, this is how the coins name took light.
Victorium is a “victory” (Latin). The common name is “Vicky” or “Vic”. The name of cryptocurrency was invented and developed by creators who based on the assumption of the thought: “How you name a boat, is how it will sail”
My initial thought is “well that’s pretty cool”, I enjoy the reference to sea faring folk naming their boats. However, in an industry of cut throat tactics, cool won’t cut it (pun not intended).
The creators state the plan to go to market with a price that will be higher than the incomes of current Victorium miners between ten and fifteen percent. Victorium aims for “stable and smooth growth” combined with uniformed development.
Their current roadmap puts them on a path to develop their own wallet for mobile devices which is stated to be a modified version of the Mist wallet as well ad PC’s. They also plan to develop a new “EVM” which is supposed to be a virtual machine responsible for the code of their easier to understand smart contracts.
These plans are bold and with any new coin I hope they are able to achieve them. It remains to be seen though if they will indeed live up to their goals as it is still too early to tell if the developers behind Victorium are up for the challenge.
If you are looking to mine Victorium we’ll post a guide shortly on how you can quickly start mining this coin and how to create a wallet.
One aspect I noticed (only because I dislike downloadable wallets) is the lack of web wallet which according to their website states they are 15% done with. Perhaps I’m lazy but a nice and simple Victorium web wallet should be a priority and a simpler one to achieve.
Overall, do I think that Victorium is going to be the next bitcoin? The short and sweet answer is probably not. However, I do believe they have some interesting concepts that I would like to see them deliver on. What makes me air to the side of caution is the amount of premine that happened.
It’s been said that one million VIC was premined and if history teaches us lessons, this could go south and very quickly. They could easily dump it all and never be seen or heard from again. But that comes down to faith in the developers, right?
What do you think of Victorium, will you mine it? Let us know in the comments or come discuss it with us on our discord.