The Dual Blockchain (or Binary-Chain) (or Binary Blockchain Protocol, dual blockchain protocol technology, dual blockchain system ???) pairs a digital currency (VeriCoin) with a digital reserve Verium
The World’s First
comprehensive solution to ensure low cost, secure, fast and scalable digital transactions This means faster transactions, more security and solves the digital currency scalability puzzle.
Current digital currencies face an impossible task of trying to be both a fast currency and a secure store of value. VeriCoin and Verium together solve this problem with the groundbreaking dual blockchain system called Binary-Chain. Binary-Chain, secures and accelerates transactions by leveraging complementary protocol technologies (PoST [Proof-of-Stake-Time] and PoWT [Proof-of-Work-Time]), into a cutting edge blockchain ecosystem. This results in:
- Reduced transaction times for VeriCoin (as fast as 30 seconds).
- Improved Verium transaction times from 5 minutes down to 1 to 3 minutes.
- Full decentralization through two chains (PoST and PoWT)
- Complete immutability
- A fully secure digital financial system
Explaining the Binary-Chain with Douglas Pike Co-Creator and Lead Developer
The Benefits of the VeriCoin and Verium’s Groundbreaking Binary-Chain The chains are self-sustaining and with no single central point of failure making them truly unique. Together they create a more secure, faster and safer financial system. Fast Transactions With Low Fees VeriCoin transactions are currently 10x faster than Bitcoin and will be even faster when paired with Verium. Transaction fees are minuscule. High Mining Rewards Miners earn Verium through Proof-of-Work-Time (PoWT) with higher fees and slower block times. CPU Mining = Decentralization Verium can be mined by anyone with a PC or laptop. Verium is ASIC and GPU resistant allowing anyone to participate. This creates a more decentralized network and improved security over centralized mining schemes. Two Way Communication VeriCoin and Verium were designed to be compatible with shared addresses and private keys. Upon future release of Artis (see Roadmap), you’ll be able to easily exchange your Verium & VeriCoin across chains without the need for a 3rd party.