VCash combines the characteristics of Bitcoin with Mimblewimble technology. It inherits Bitcoin’s distribution mechanism and leverages on Grin’s privacy protocol by using Mimblewimble implementation.
VCash adopts Merged Mining to allow mining of VCash and Bitcoin simultaneously with the same ‘Proof-of-Work’ (POW) algorithm. Blockchains that utilize POW algorithm are susceptible to the risk of 51% attack on the network. However, Bitcoin has the largest number of miners worldwide and widely distributed hashing power, which significantly lowers the risk of a 51% attack. With Merged Mining, VCash is able to leverage on Bitcoin’s hashing power with the support from Bitcoin mining pools. Therefore, VCash possesses the same level of security as Bitcoin and launching a 51% attack on Vcash network would be very costly and, therefore nearly impossible.
The goal of VCash is to be the most private and secure chain for storing values.