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== News and Updates ==
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=='''News and Updates'''==
 
Latest news and updates can be found in the [https://portal.vericoin.info/category/blog/ VeriCoin & Verium Blog].
 
Latest news and updates can be found in the [https://portal.vericoin.info/category/blog/ VeriCoin & Verium Blog].
  
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* New [https://bitcointalk.org/index.php?topic=2385158 Bitcoin Talk Thread] – Binary-Chain – VeriCoin and Verium (by verimad | Nov 11, 2017) We have launched our new Bitcointalk.org thread for VeriCoin and Verium, please join us!
 
* New [https://bitcointalk.org/index.php?topic=2385158 Bitcoin Talk Thread] – Binary-Chain – VeriCoin and Verium (by verimad | Nov 11, 2017) We have launched our new Bitcointalk.org thread for VeriCoin and Verium, please join us!
  
== FAQ ==  
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=='''FAQ's'''==  
  
 
Topic central
 
Topic central
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-Thank you from the VeriCoin and Verium Development Team
 
-Thank you from the VeriCoin and Verium Development Team
 
== Status & Roadmap ==
 
 
  
  

Revision as of 14:19, 11 January 2018

VeriCoin (VRC) and Verium Reserve (VRM) are the first dual blockchain protocol pairing a digital currency with a digital commodity that forms a cohesive decentralized financial system using a unique protocol called binary chain.

Current digital currencies (Bitcoin, Litecoin, Dash) face the impossible task of attempting to be both a fast currency and a secure store of value. VeriCoin and Verium solve this problem by incorporating complimentary protocols known as binary chain. Vericoin’s Proof of Stake Time (PoST) and Verium’s Proof of Work Time (PoWT) protocols leverage complementary technologies to form a symbiotic and advanced dual blockchain ecosystem that not only greatly enhances network security, but exponentially accelerates transaction times. The novel pairing of advanced dual blockchain technologies has become known as the VeriConomy.

By building a consensus-paired digital ecosystem, the currency (VeriCoin) can scale to mass usage and remain extremely inexpensive, and the reserve commodity (Verium) can scale while stabilizing value via a growing supply cost.

Vericoin Digital Currency

VeriCoin is purely a digital currency that runs on its own unique protocol known as Proof of Stake Time (PoST).

Vericoin transactions are nearly instant (currently 10 times faster than Bitcoin); however, upon the upcoming launch of the binary chain that pairs Vericoin with Verium Reserve, network transaction speeds will increase exponentially.

Proof of Stake Time rewards investors with variable and compounding interest payments on the coins held within their wallets in return for leaving Vericoin's digital wallet open and running on their computer, a process known as "staking". As opposed to Bitcoin's Proof of Work (PoW) protocol that requires large amounts of electricity in the mining of new coins, Vericoin payments of staking interest are how new Vericoin are minted. Staking, incentivized through interest payments, serves the purpose of validating transactions on the VeriCoin network. This allows anyone with an internet connection, including the world's unbanked and underprivileged, access to a decentralized financial network providing for the transfer and receipt of funds in a matter of seconds.

Verium Digital Commodity

In addition to supporting the Vericoin blockchain, Verium Reserve (VRM) was created as an innovative and independent store of value asset. Verium solves blockchain scaling issues by introducing a new variable block-time paradigm that speeds network transactions with increases to mining power. Variable block-times allow Verium to scale automatically while enhancing transaction speeds and network capacity to ensure high levels of network security at any level of mining throughput. Through both linking of the binary chain and Verium’s auxiliary mining protocol (AuxPOW), Verium will also process VeriCoin blocks. This symbiotic protocol will speed Vericoin’s block-time to less than 30 seconds. These technologies enable Vericoin’s network to provide an efficient and scalable system for consumer transactions well beyond current standards.

Binary Chain

Proof of Stake Time (Vericoin)

Proof of Stake-Time (PoST) is a novel approach to forming a consensus by introducing a stake-time component, where the probability to stake increases over time. This better incentives staking and enhances the security of the network. It also enhances the decentralization of the consensus, well beyond current standards.

Network

Scrypt

Blockchain Explorer

Proof of Work Time (Verium)

Proof of Work-Time (PoWT) is a novel approach to forming a consensus by introducing a variable blocktime that scales with mining power, where the blockchain speeds up with power increases. This better scales the blockchain, increases transaction speed with power and allows for auto-adjusting more profitable mining. Difficulty dependent blocktime (Max ~6.2 minutes, minimum 15 seconds). Rewards: Blocktime dependent rewards (~Reward halving every minute decrease in blocktime till 10x VRC supply parity, then variable ~3% disinflation). Algo: scrypt² (N of 1024² or 128MB per thread) Block 1: 564,705 VRM minted for ICO participants who purchased VRM using VRC. Minimum Transaction Fee: 0.2 VRM (high commodity transaction fee paid to miners). RPC Port: 33987, P2Port: 36988 Confirmations: 30, Maturity: 100.

Blockchain Explorer

Roadmap & Project Status

Usor

Artis

Cipher

Gemini

Stratum

Incentify

Mobile Wallets

Mine While You Sleep Mobile Miner

One-Click Verium Wallet Mining

One-Click Vericoin Wallet Staking

Binary Chain (AUXPow Activation)

Status

Roadmap



VeriBit Project

VeriBit 2.0 (Beta) is a service which accepts VeriCoin payment for Bitcoin transactions. You can pay companies that accept Bitcoin using VeriCoin. VeriBit is currently restricted to 1.0 BTC sends. This restriction will be lifted in the future. You will be able to use VeriBit 2.0 (Beta) in your mobile and desktop wallet.

Project Team Members

Dr. Patrick Nosker

Douglas Pike

David Boehm

Matthieu Derasse

Benjamin Mahala

Will Maddock

Kevin Alvarez

Michael G. Barret

The development team behind VeriCoin and Verium:


Help Center

Staking

Interest

No mining necessary, just hold your coins in your open wallet on your PC/laptop or mobile device. Network-dependent disinflation targeted interest, is the mechanism for minimizing disinflation and maximizing interest on your investment in VeriCoin. The practical range of disinflation is between 1.5-2.5% and the practical range of interest is between 2-5%(Max 10%). VeriCoin is a disinflationary currency via it’s PoST (Proof of Stake Time) protocol. Disinflation is an ever decreasing rate of inflation over time. Most Proof of Stake currencies are inflationary. These PoS currency’s can face market supply saturation challenges due to ever increasing supply at an ever increasing rate of new supply (inflation). VeriCoin has the most economically sound, long term solution via PoST’s (Proof of Stake Time) disinflationary model.

Mining Center

Mining VRM (CPU)

The days of needing specialized computing hardware and sophisticated know-how to mine digital currency are over. Anyone can easily mine Verium. Just download the Verium Vault software to any computer, click mine and starting earning Verium, the digital gold that backs the digital currency VeriCoin. Verium is one of the few digital currencies that can not be mined by specialized GPUs and ASICs.By making it easy for anyone and everyone to mine Verium the project has created a more decentralized system.

Power Based Rewards

As mining power increases the reward slowly decreases, this mechanism makes the reserve commodity supply curve drop based on increased demand and can drive a value increase over time and increased usage.

Official Wallets

Vericoin (VRC) Desktop Wallets

Windows

Windows 32
Windows 64

Mac

Mac 64/OSX

Linux

Linux 32
Linux 64

Windows

Windows 32
Windows 64

Mac

Mac 64/OSX

Linux

Linux 32
Linux 64

News and Updates

Latest news and updates can be found in the VeriCoin & Verium Blog.

Latest highlights:

  • VeriCoin Wallet 1.7 – Released (by verimad | Nov 18, 2017) VeriCoin Wallet 1.7 (Download) has been released! Release Notes
  • New Bitcoin Talk Thread – Binary-Chain – VeriCoin and Verium (by verimad | Nov 11, 2017) We have launched our new Bitcointalk.org thread for VeriCoin and Verium, please join us!

FAQ's

Topic central

  1. VeriCoin Fundamentals
  2. VeriCoin Wallet
  3. VeriCoin Staking and Proof-of-Stake-Time
  4. Verium Fundamentals
  5. Verium Wallet
  6. Verium Mining and Proof-of-Work-Time

Complete FAQ Collection

Links

Official Website

Follow VeriCoin and Verium

Twitter (VeriCoin) Twitter(Verium) Blog
YouTube Facebook Forum
Slack Channel Bitcointalk Official Resources
Google+ Dailymotion Channel Pinterest

Get Involved

Are you writing about VRM/VRC? Making videos? Find a cool relevant news story? Building a mining rig? Let us know! Let us help promote your content and bring greater awareness about VRM/VRC to the world! Message us and we'll push it out there!

Of great interest would be alternative applications and projects that utilize VRM/VRC technology!

Who Is Ready To Change The World? VeriCoin is looking for volunteers who believe that a fast, secure and scalable decentralized digital currency will create a better world. We are looking for talented designers, developers, marketers, translators and brand ambassadors to join our movement.

VeriCoin Foundation

Join VeriCoin Foundation: Application for

  • Development
  • Marketing & Promotion
  • Technical Support
  • Global Initiatives

are very welcome.

“Getting involved with the VeriCoin Foundation was one of the best decisions I’ve made. It’s awesome to work on a project that is destined to improve the world while collaborating with so many talented and brilliant minds from all around the globe. We’re creating something entirely new for the whole world to experience. It’s a great feeling!” – Kevin Alvarez, Marketing

Donations

VeriCoin and Verium is an open sourced community driven project. This page lists current development projects, marketing and community outreach initiatives and a developer tipping fund(we are all volunteers). With these donated funds we hope to deliver quicker development progress, larger marketing campaigns, supporting community outreach projects and support for third party development projects. We look forward to your continuing support in making VeriCoin and Verium great!

-Thank you from the VeriCoin and Verium Development Team


Press Releases

Press Releases

Deprecated Integrations

VeriSend