ViaCoin sets out to be a improved Bitcoin. Based on the scrypt algorithm, ViaCoin has implemented techniques that make it run faster and allow it to be more mining efficient with its Aux Proof of Work.
Key Features
Mining Multiple Blockchains
Viacoin is designed for recyclable mining. A miner can mine any other Scrypt based coin and in turn mine ViaCoin with little to no impact on the hash rate.
Viacoin allows the mining of any scrypt coin while mining ViaCoin through “recycling” hashing power. This basically allows miners to mine multiple blockchains at once without putting the same strain on the miner which Dual mining does.
Speed
ViaCoin reduced the transaction time of it’s network by a factor of 25 compared to that of Bitcoin. It’s 25 times faster than Bitcoin and has a similar supply cap.
Time Warp Attack
This difficulty of the algorithm was implemented to address flaws that its predecessor faced due to Time Warp Attack.
Conclusion
Although ViaCoin has some very innovative features its one among many in the pot of alt coins that are trying to be the next Bitcoin. While it may be faster and down right better at doing what Bitcoin does than Bitcoin it’s not alone with its merits and goal.
