Donate VRC/VRM for the Wiki to VBzaNDExHyFpnNvYc5QH5e4ipBZqxxPnKJ . Thank you, Joe.

VeriCoin & Verium

From VeriCoin & Verium Wiki
Revision as of 18:17, 6 February 2019 by Verimad (Talk | contribs) (Donations)

(diff) ← Older revision | Latest revision (diff) | Newer revision → (diff)
Jump to: navigation, search

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.

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

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.

Binary Chain

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 [1].

Latest highlights:

  • VeriCoin 1.7.2 - [2] [3]
  • Verium Core 0.16 core code update is moving along nicely [4]. When finish changes will be moved over to VeriCoin Core, both Verium and VeriCoin will be running on newly updated core code which allow Binary-Chain implementation and Mine-Sharing on Verium.
  • VeriMobile Wallet is nearing completion, this will be a locally run mobile wallet built from scratch for both VeriCoin and Verium. Demo of the Alpha version running on the Bitcoin Testnet can be seen here [5] and Alpha version can be tested here [6]
  • VeriCoin added to XBTS Decentralized Exchange [7]

Links

Official Website

Resources

Follow VeriCoin and Verium

Slack Channel Bitcointalk Discord Group
Twitter (VeriCoin) Twitter(Verium) Blog
YouTube Telegram Reddit
Pinterest Facebook Forum

Roadmap & Project Status

Development Plan/Goals for 2019

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.

  • Q1/2019 – Complete Core Code Update (Bitcoin Core +0.16) for both VeriCoin and Verium
  • Q1/2019 - New Desktop Wallets using new code base, new UI/UX integration
  • Q1/2019 – Release of VeriMobile Wallet for both VeriCoin and Verium
  • Q2/2019 – Mini-Blocks for Verium (On-Chain Mining Shares)
  • Q3/2019 – Gemini Wallet Beta Launch
  • Q3-Q4/2019 – Binary Chain Activation

Press Releases

Project Team Members

The development team behind VeriCoin and Verium:

Official Wallets

  • VeriCoin Wallet[8]
  • Verium Wallet[9]

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

VeriCoin Foundation

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.

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