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 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 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.
New version of Verium 1.3.5 is currently in beta
Vericoin
What's next for Vericonomy?
| Slack Channel | Bitcointalk | Discord Group |
| Twitter (VeriCoin) | Twitter(Verium) | Blog |
| YouTube | Telegram | |
| Forum |
This will be updated on a bi-annual to annual basis, depending on the speed at which we are able to accomplish our tasks.
🚀 Beta 2 of Verium 1.3.5 (Sept/Oct):
Fixes for bootstrapping and timestamp checks → smooth sync & mining.
🌐 Website & Wiki Refresh:
Wiki becomes main hub with up-to-date info & guides.
📢 Social Media Revival:
30-day campaign across Twitter, Facebook, Reddit.
More platforms may follow!
⛏️ Mining Pools + Miner Updates:
Easier ways to mine with updated software.
🔗 Exchange Progress:
Ongoing discussions with TradeOgre + exploring new listings.