Looking over Vertcoin’s road map today, I can’t help but be excited for its future. Perusing stages of development, I find that the new Vertcoin wallet is a high priority for the team, with a series of features that will launch the cryptocurrency into its next era.
The roadmap reveals recently completed development, work currently in progress, work that is “up next”, followed by a backlog of future implementations. Every category involves elements of the Vertcoin wallet.
Right now, the team is working on perfecting the basic functionality of the wallet, including the interface and visual design. An iOS version of the wallet is also in the works.
“Up next” is where things start to get really exciting. Once the basics of the wallet are completed, the team will be moving on to this stage. Stealth addresses are first up in the development order, which are being re-worked due to SegWit improvements in Vertcoin.
A stealth address enables a payee, such as a merchant, to set up a public “stealth” address which can then receive funds. The payers can send their payments by using this stealth address to generate a unique address, only known to the payer. The block-chain sees all the transactions, but can not correlate them all to the same payee due to the generated addresses. This enables privacy that adds another layer of protection for all users.
While this does not enable privacy to the extent of complete anonymity, it does protect payers and payees from revealing the balances of their sending and receiving addresses. This reduces the danger of an address being perceived as a target as the entire balance of a given address is not revealed on the blockchain. A merchant, for example, would not have a single large sum of funds revealed when receiving transactions to this stealth address, as it dynamically generates addresses instead of having all transactions visibly arriving at a single public address.
Where things really get exciting is the development that is currently in the backlog of 2018. Lightning and atomic swaps reside here. The plan is to build these features directly into the Vertcoin wallet.
Think about this for a moment: Lightning transactions and atomic swaps directly to and from your wallet. The Lightning network will enable instant transactions through a smart contract solution that works via the SegWit protocol. Atomic swaps will allow the Vertcoin wallet user to instantly trade between Vertcoin, Litecoin, Bitcoin, and other compatible coins without ever setting foot in an exchange. You will be able to instantly exchange between currencies without depending on any third party. This is a huge step in the decentralisation of cryptocurrency.
These awesome features are still a little ways off, as they are currently “backlogged”, but they’re coming. This wallet and its technical features will be a crucial step forward for Vertcoin.
You can check out the Vertcoin roadmap for yourself at their Trello site, right here.