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What is Viacoin?

Viacoin is an open-source cryptocurrency created in 2014 that features 25x faster transaction speeds than Bitcoin and the ability to support up to 175 transactions per second. It was designed with a focus on security, speed, and scalability, and it uses the innovative ClearingHouse protocol for secure decentralized payments. Viacoin also has a built-in blockchain development platform called “Omni Layer” which allows developers to create their own tokens and applications on top of the Viacoin blockchain. The coin's main use case is as a medium of exchange for goods and services.

Viacoin utilizes a Proof-of-Work consensus algorithm called “Scrypt-Adaptive-Nfactor” (SAN) which adjusts its difficulty level every block. This makes it more difficult for miners to take advantage of ASICs or GPUs when mining the coin, making it more accessible to everyday users who want to mine using their CPU or GPU. Additionally, Viacoin has implemented SegWit technology which helps reduce transaction fees.

Viacoin also features Lightning Network technology which allows users to make instant payments with near zero fees. This technology works by creating payment channels between two parties that can be used for multiple transactions without broadcasting them onto the blockchain until they are ready to close out the channel. This helps reduce congestion on the network while still allowing users to make fast payments.

Overall, Viacoin is an innovative cryptocurrency that offers fast transaction speeds, low fees, and secure decentralized payments through its unique ClearingHouse protocol. Its built-in Omni Layer platform also makes it easy for developers to create their own tokens and applications on top of the Viacoin blockchain.