Being a consistent fast and secure store of value is a recurrent problem with many digital currencies.
Introducing, Verium which is a digital asset based on the Proof of Work Time protocol (PoWT) that is paired with the Proof-of-stake-Time (PoST) protocol based currency, Vericoin.
Yes you read that correctly they will be PAIRED.
It is the first dual blockchain protocol that pairs a digital asset with a digital currency. This is called a Binary-Chain and leverages the complementary protocol technologies (PoWT and PoST) in order to secure and accelerate transactions.
Block-chain currencies almost always rely on one chain for their consensus. This creates a central point of failure where everything else depends on, opposed to a Binary-Chain where both protocols supplement each other. The more decentralization the better.
The Binary-Chain increases the transaction speed tremendously by sharing wallet addresses and private keys which allows for a secure and safe transfer between the digital asset and currency. Verium’s auxiliary mining protocol allows Verium to process VeriCoin blocks aswel. Current VeriCoin transactions are currently 10 times faster than Bitcoin! Basically anyone in the entire world with internet connection can almost instantaneously send and receive funds at extremely low transaction fees.
Additionally, Verium solves the blockchain scaling issue inherent in Bitcoin since it introduces the block-time paradigm which allows for faster processing as mining power increases without sacrificing the security and keeping the fees low.
Verium and Vericoin create a more secure, faster, safer near costless decentralized financial system with tremendous potential. The novel Binary-Chain offers something that almost all current cryptocurrency’s are lacking. The technology behind Verium and Vericoin is state-of-the -art that fills in a huge gap.
The recently revealed developer road map contains exciting upcoming features with most of these feautures being already well into development. As of july 17th the Binary-chain is 60% completed.
• Cipher – an on chain, encryption optional, messaging system. Cipher can be used to communicate from one wallet to another, with the option of storing encrypted data.
• Usor – an on chain decentralized username system that will allow users to assign unique usernames to their desired address.
• Artis – an on chain decentralized anonymous exchange between VeriCoin (the currency) and Verium (the commodity)
• Stratum – a json-based API allows communication between external distributed applications, smart contracts, and other blockchain powered systems.
• Gemini – a wallet that will merge all VeriCoin and Verium technologies into one easy to use package.
• Mobile Apps – The VeriCoin mobile wallet will allow you to stake on the go or while you sleep and make mobile payments with VeriCoin.”
• Project Social – will enable the use of VeriCoin as a mainstream transaction system and represent a stunning real world use case for VeriCoin.
With scaleability should come accesiblity. Cryptocurrency’s in their current form can never be mass adopted into the mainstream. It is clear from the roadmap that the developers understand this problem and have come up with amazing solutions to solve these issues.
The current supply of Verium is currently at 1 million shares, which is relatively speaking very low for a coin with such potential. This is a solid long term investment. Currently its at around 3$ but based on the technology behind it and upcoming features I can easily see it going to 10$ and beyond months down the line if not sooner.
I believe that the technology behind Verium and Vericoin is a solution to important problems that most of the cryptocurrency's today are facing.
There is a lot more to come and I'm looking forward to the future!
