Editor’s Note: Vertcoin Development team has released a new update last night, just after this article was originally published with the title: “Vertcoin Community Uneasy With Developer Silence.”
In the digital currency community, transparency is one of the foundations of the movement. While the Bitcoin creator Satoshi Nakamoto remains anonymous, this is not normally the case with most altcoins in current circulation. With the Vertcoin markets currently dipping down, the community is calling for more communication from its developers who have recently fallen silent.
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“As a miner and holder of Vertcoin, I’m concerned by the price drop as all of you. Vertcoin is a great coin with tremendous potential, but it lacks one thing,” Vertcoin redditor Whazee said, “Good communication.
Vertcoin is currently down 15% and is looking for the bottom, which has gotten many users on the edge. The coin claims to be an evolution of Litecoin, using an “Adaptive N-Factor” to determine how much memory is required to compute the hashing functions.
The developers are currently known to be working on private addresses for Vertcoin along with a brand new wallet, but the price dip has made some users ask questions. Developer silence may be normal for the Bitcoin community, regarding Nakamoto, but Vertcoin seems to be experiencing conflicting ideas.
While one side of the conversation wants the developers to be more vocal and transparent with the community, the other wants to drift away from them just like Bitcoin. This has led to some interesting discussions among the community along with a few ideas to bring communication back.
“I would personally like to see this community wean itself off its dependence on the developers. What I mean is instead of hanging on their every word, or lack of, we should each focus on what we can do to develop this coin,” user depboy said, “For technically gifted people, that may mean involving themselves in creating software which adds new functionality, or improves in some way on what we’ve already got.”
However, not everyone shares that same sentiment. Some want more response from the developers and would like to create a link between the two. Some just want an update.
“We need someone to make a link between us, the community, and them, development team, and we also need someone to advertise Vertcoin,” Whazee said, “Technology is an important thing, but we have to face the reality. Communication is the only thing that matters. We can’t afford to miss that part because it’s what makes a coin’s success.”
But there are people out there that believe the silence is a positive move.
“It may actually be good that the developers are separating themselves from the community, as this will put a lot of the creativity and development in the hands of the community and not just the central developers for a truly decentralized coin,” Vertcoin user SnoopDoge_ said, “In a truly decentralized system you have just as much power as the Vertcoin developers when it comes to releasing software and managing the coin.”
The last update, as of 6/22/14, was from the Vertcoin development team.