VeriCoin & Verium
VeriCoin (VRC) and Verium Reserve (VRM) are the first dual blockchain protocol pairing a digital currency (VRC) with a digital commodity (VRM) 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 complementary 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.
- 1 VeriCoin Digital Currency
- 2 Verium Digital Commodity
- 3 Binary Chain
- 4 News and Updates
- 5 Links
- 6 Roadmap & Project Status
- 7 Project Team Members
- 8 Official Wallets
- 9 FAQ's
- 10 VeriCoin Foundation
VeriCoin Digital Currency
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
Verium Reserve (VRM) was created as an innovative and independent store of value asset in addition to supporting the VeriCoin blockchain. Veriums own unique protocol PoWT (Proof-of-Work-Time) 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.
The Dual Blockchain (or Binary-Chain) pairs a digital currency (VeriCoin) with a digital reserve (Verium). It secures and accelerates transactions by leveraging complementary protocol technologies (Proof-of-Stake-Time and Proof-of-Work-Time), into a blockchain system. Thus offering a 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.
News and Updates
Latest news and updates can be found in the VeriCoin & Verium Blog.
- VeriCoin 1.7.1 This is a mandatory bug fix release. This release fixes a maximum acceptable difficulty change bug that in the past has caused a fork under extreme difficulty adjustments. This release also prevents excessive memory usage by limiting the number of connections and number of blocks checked from peers at a given time.
- Vote for the upcoming European Summer Meetups!
- March 2018 Review Video
- We are launching our monthly "VeriConomy Newsletter" to help you stay up to date on the latest News, Updates and Events. One Subscriber a week will have a chance to win 5 VRC and 1 VRM
- VeriCoin & Verium AMA
- 2017 Year Review
- 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!
- VeriCoin Wallet 1.7 – Released (by verimad | Nov 18, 2017) VeriCoin Wallet 1.7 (Download) has been released! Release Notes
Follow VeriCoin and Verium
|Slack Channel||Bitcointalk||Discord Group|
Roadmap & Project Status
Development Plan/Goals for 2018
We do not believe in publishing specific development dates. The following goals are strictly quarterly estimates. There are many factors and variables involved with development. We believe in putting out a secure and tested product rather than pushing out code to meet a deadline.
- Q1/2018 – New Website Launch and new Branding/Design guidelines for VeriCoin and Verium
- Q1/2018 – Release of P2Pool for Verium and Launch of Mine Sharing(Exclusive for Verium)
- Q1/2018 – VeriCoin 2.0 and Verium 2.0 (Code base update to latest Bitcoin Core 0.15)
- Q2/2018 – Mobile Miner for Android and iOS(Later Date)
- Q2/2018 – Dual Mobile Wallets for VeriCoin and Verium on Android and iOS(Later Date)
- Q3/2018 – Gemini Wallet Beta Launch
- Q3-Q4/2018 – Binary Chain Activation
Project Team Members
The development team behind VeriCoin and Verium:
- VeriCoin Fundamentals
- VeriCoin Wallet
- VeriCoin Staking and Proof-of-Stake-Time
- Verium Fundamentals
- Verium Wallet
- Verium Mining and Proof-of-Work-Time
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.
Join VeriCoin Foundation: Application for
- 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
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