[ANN][VRM] Verium PoWT | CPU mining | scrypt² | Scaling | New Roadmap Released

[effectsToCause]

Hey guys we are putting the finishing touches on Verium, it's running great in testing.  Here is the block reward scheme which is dependent on the blocktime.  It is approximately a reward halving per minute decrease in the target blocktime, via this equation:

Reward = 0.375*exp(0.0116*BlockTime)

This way as the security and performance of the blockchain increases, so too does the cost of creation; but only if the computational power increases, not on a fixed schedule.  Thereby securing the value enhancing properties of a scarce commodity that is imbuing value on the ecosystem, while keeping mining relatively profitable in bear markets, or higher mining cost phases.  The minimum blocktime for Verium will be 5 seconds and the maximum will be about 5.5 minutes.



Next I will post the formula for quantifying blocktime.

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[MAD945]

Hey guys we are putting the finishing touches on Verium, it's running great in testing.  Here is the block reward scheme which is dependent on the blocktime.  It is approximately a reward halving per minute decrease in the target blocktime, via this equation:

Reward = 0.375*exp(0.0116*BlockTime)

This way as the security and performance of the blockchain increases, so too does the cost of creation; but only if the computational power increases, not on a fixed schedule.  Thereby securing the value enhancing properties of a scarce commodity that is imbuing value on the ecosystem, while keeping mining relatively profitable in bear markets, or higher mining cost phases.  The minimum blocktime for Verium will be 5 seconds and the maximum will be about 5.5 minutes.



Next I will post the formula for quantifying blocktime.

Looks great Doug, looking forward toward more in-depth details. Volume is picking up again on Vericoin and driving more into the Verium ICO, looks like people will be showing interest in the final days.

[Mallyx]

Hello,

this ICO has been added on https://www.ico-list.com/ !

Thanks for contacting me if some details are wrong.

[MAD945]

Hello,

this ICO has been added on https://www.ico-list.com/ !

Thanks for contacting me if some details are wrong.

Awesome! Good luck with your site

[kjadB]

Few people seem to care about the coin now and days as well as you look at the volume.  You can have the best coin in the world but if people don't know or don't care it don't matter.  What vericoin/verium is doing is setting up a copy cat w/ marketing skills a budget and more of a commitment.  Even with all the Vericoin their collecting from the ICO they have no clue how to promote the coin moving forward and voting on every aspect is just going to mess things up even more.  

Development is GREAT but you need more, you need marketers and people that are committed the developers  have lives and are busy this is a hobby which is cool but not for an investment.

Also changing the rules to make it better for the people won't tarnish NOTHING.  Rules in life change all the time.  You can take a positive a 4 hours sell out and double down by offering more positive news. 

The Verium ICO was the last chance for VRC, and it looks like a FAIL. I missed the phase 1, so I sold before the recent price drop. There's too many other projects with better tech, better marketing, and better communities ... sorry, but VRC/VRM is a dead man walking. Phase 2 ICO is a crap deal

[MAD945]

Few people seem to care about the coin now and days as well as you look at the volume.  You can have the best coin in the world but if people don't know or don't care it don't matter.  What vericoin/verium is doing is setting up a copy cat w/ marketing skills a budget and more of a commitment.  Even with all the Vericoin their collecting from the ICO they have no clue how to promote the coin moving forward and voting on every aspect is just going to mess things up even more. 

Development is GREAT but you need more, you need marketers and people that are committed the developers  have lives and are busy this is a hobby which is cool but not for an investment.

Also changing the rules to make it better for the people won't tarnish NOTHING.  Rules in life change all the time.  You can take a positive a 4 hours sell out and double down by offering more positive news. 

The Verium ICO was the last chance for VRC, and it looks like a FAIL. I missed the phase 1, so I sold before the recent price drop. There's too many other projects with better tech, better marketing, and better communities ... sorry, but VRC/VRM is a dead man walking. Phase 2 ICO is a crap deal

I disagree...I hardly call 300+ BTC worth of Vericoin a FAIL and with no marketing and 4 days to go and Vericoin still coming in. With all these crap ICO's with over promising and under delivering I put my money with consistent development, honesty, hard work and vision.

How many times I've heard Vericoins DEAD, and yet here we are still developing releasing something that hasn't been done before in this space. Yet chump after chump loses their hard earned money investing in broken promises, Waves can't even release a node or anything for that matter.

Vericoin and Verium will succeed, with a marketing budget that we have never had before big things are on the horizon.

Verium is just the tip of the iceberg my friend!

[scammerdie]

Advantages of this coin? Smart contract implementation?

[MAD945]

Advantages of this coin? Smart contract implementation?

I see smart contracts as a FAD....Vericoin and Verium are here to change the way we do banking, finance and manage your money.

Vericoin and Verium are here to compete directly with Bitcoin head on. Solve the scalability issue and bring a workable, easy to use financial system to the masses.

Vericoin and Verium combine a PoWT and PoST both unique protocols onto the same blockchain. Both working together to give benefits inherent in both protocols and strengthening their weaknesses.

Verium will be the Gold(Mine-able)

Vericoin will be the Cash(Interest gaining)

We are bringing back the gold standard to crypto currencies

[warr1979]

Advantages of this coin? Smart contract implementation?

I see smart contracts as a FAD....Vericoin and Verium are here to change the way we do banking, finance and manage your money.

Vericoin and Verium are here to compete directly with Bitcoin head on. Solve the scalability issue and bring a workable, easy to use financial system to the masses.

Vericoin and Verium combine a PoWT and PoST both unique protocols onto the same blockchain. Both working together to give benefits inherent in both protocols and strengthening their weaknesses.

Verium will be the Gold(Mine-able)

Vericoin will be the Cash(Interest gaining)

We are bringing back the gold standard to crypto currencies

Smart contracts are a fad?? With credit card fraud,  mortgage loans disputes every financial institution looking at the block chain and you think it's a fad?? There not looking to change the currency  currency there looking for the next level of protection.  I like vericoin I like the developers there smart they care but now vericoin is fools gold right now.  The "gold standard" only works if people want it and use it.  No sites are using vericoin as cash.  The innovation can be there all day but until there a desire and education of this coin to say theirs is to compete with Bitcoin is an embrassment to Bitcoin.

[MAD945]

Yes no one is using Vericoin your right neither are any other digital currencies besides Bitcoin. Vericoin and Verium will be more decentralized and will increasing be more so. Bitcoin is going in the wrong direction with being more centralized with third parties making Bitcoin usable, Bitcoin is a failure as a Currency and that's why Vericoin and Verium will compete directly with Bitcoin.

Smart Contracts are a flavour of the month...but that's just my opinion!

[warr1979]

Yes no one is using Vericoin your right neither are any other digital currencies besides Bitcoin. Vericoin and Verium will be more decentralized and will increasing be more so. Bitcoin is going in the wrong direction with being more centralized with third parties making Bitcoin usable, Bitcoin is a failure as a Currency and that's why Vericoin and Verium will compete directly with Bitcoin.

Smart Contracts are a flavour of the month...but that's just my opinion!

How many Bitcoin article a day are written?? How many are written about vericoin??  It's not a contest which is more widely known and used.  Also I'm not talking about main stream sites using other currency NO sites use vericoin.  https://www.directbet.eu Look there they take other currency vericoin can't even get on sites like this!!

[MAD945]

Yes no one is using Vericoin your right neither are any other digital currencies besides Bitcoin. Vericoin and Verium will be more decentralized and will increasing be more so. Bitcoin is going in the wrong direction with being more centralized with third parties making Bitcoin usable, Bitcoin is a failure as a Currency and that's why Vericoin and Verium will compete directly with Bitcoin.

Smart Contracts are a flavour of the month...but that's just my opinion!

How many Bitcoin article a day are written?? How many are written about vericoin??  It's not a contest which is more widely known and used.  Also I'm not talking about main stream sites using other currency NO sites use vericoin.  https://www.directbet.eu Look there they take other currency vericoin can't even get on sites like this!!

How long has Bitcoin been around? How long has Vericoin been around? Right...Vericoin is just coming into its own with Verium and building its own ecosystem. Adoption will come with time and patience which you lack. Marketing will come after the release of Verium and adoption will increase as will development, a budget has been secured with the ICO funds.

Directbet only accepts Ethereum and Bitcoin....whats your point?

[effectsToCause]

Hi guys, here is the Blocktime calculation breakdown:

The blocktime is dependent on the difficulty.  The difficulty in Verium is an automatically adjusting exponential factor that is dependent on the difference between the actual blocktime and the targeted blocktime.  So as computational power grows the blocktime speeds up and the difficulty adjusts exponentially to match the computational power to the target blocktime.  In Verium however, the target blocktime is also changing, so this ends up smoothing the effective difficulty. The difficulty and the variable blocktime are a counterbalance to one another, resulting in a more organic, smooth and incremental difficulty adjustment as the computational power grows. This can greatly extend the profitability of CPU mining combined with the reward adjustment scheme.  Additionally this can potentially decrease incentive for pooling, because solo-mining can be more profitable and result in a more predictable return on time devoted to solo-mining.

Another key factor is the security enhancement of this variable blocktime paradigm.  Any competing chain that has less computational power will calculate a slower blocktime for it's chain, this results in nodes reconnecting automatically to the chain with the largest block height, which will always have the most computational power and fastest calculated blocktime.  So there is no risk that the longer chain has less power and the computational power consensus is always maintained in totality.

The blocktime calculation is logarithmic so to better intuit how this works, I've plotted it both linearly and logarithmically.  As you can see, as the consensus is getting off the ground it quickly speeds up and dampens difficulty, but dampens it only as the security is acceptable for such an effect.  It can also slow in the case of a reduced computational power.

The blocktime is calculated with this equation:
blocktime (sec) = -13.03*log(difficulty)+180

[MAD945]

Hi guys, here is the Blocktime calculation breakdown:

The blocktime is dependent on the difficulty.  The difficulty in Verium is an automatically adjusting exponential factor that is dependent on the difference between the actual blocktime and the targeted blocktime.  So as computational power grows the blocktime speeds up and the difficulty adjusts exponentially to match the computational power to the target blocktime.  In Verium however, the target blocktime is also changing, so this ends up smoothing the effective difficulty. The difficulty and the variable blocktime are a counterbalance to one another, resulting in a more organic, smooth and incremental difficulty adjustment as the computational power grows. This can greatly extend the profitability of CPU mining combined with the reward adjustment scheme.  Additionally this can potentially decrease incentive for pooling, because solo-mining can be more profitable and result in a more predictable return on time devoted to solo-mining.

Another key factor is the security enhancement of this variable blocktime paradigm.  Any competing chain that has less computational power will calculate a slower blocktime for it's chain, this results in nodes reconnecting automatically to the chain with the largest block height, which will always have the most computational power and fastest calculated blocktime.  So there is no risk that the longer chain has less power and the computational power consensus is always maintained in totality.

The blocktime calculation is logarithmic so to better intuit how this works, I've plotted it both linearly and logarithmically.  As you can see, as the consensus is getting off the ground it quickly speeds up and dampens difficulty, but dampens it only as the security is acceptable for such an effect.  It can also slow in the case of a reduced computational power.

The blocktime is calculated with this equation:
blocktime (sec) = -13.03*log(difficulty)+180

Cool, going to have to dummy it down for some the folks here. This solves a lot of issues with mining and giving a better gauge on profit vs time.

[cryptospreader]

What is the latest update on the ICO? It seems end in few days/hours. Did you get word from any exchange? What are your initiatives for VRM after ICO?

[effectsToCause]

What is the latest update on the ICO? It seems end in few days/hours. Did you get word from any exchange? What are your initiatives for VRM after ICO?

A brief overview of current development plans:

-Once the ICO ends, we can prepare the mainnet and mine the correct required VRM from the ICO.
-Then after the ICO funds are mined, we will run the mainnet privately with a block reward of zero until all the ICO funds are sent to their respective addresses
-After all the funds have been disbursed we will open the mainnet up to the public and start the blocktime-dependent reward scheme.
-Then mining will begin
-We will be working with either poloniex, bittrex or both to support a VRC/VRM market pair.  The VRM/BTC pairs will be up to the exchanges to add at their own discretion.
-Once this market pair is up we will add VRM/VRC swap functionality to the Verium and VeriCoin wallet.
-After the Verium network has stabilized we will release a new VeriCoin wallet that accepts Verium blocks as part of it's consensus, then as Verium picks up steam so too does the currency in security, transaction speed and scalability.

[souljah1h]

Few people seem to care about the coin now and days as well as you look at the volume.  You can have the best coin in the world but if people don't know or don't care it don't matter.  What vericoin/verium is doing is setting up a copy cat w/ marketing skills a budget and more of a commitment.  Even with all the Vericoin their collecting from the ICO they have no clue how to promote the coin moving forward and voting on every aspect is just going to mess things up even more.  

Development is GREAT but you need more, you need marketers and people that are committed the developers  have lives and are busy this is a hobby which is cool but not for an investment.

Also changing the rules to make it better for the people won't tarnish NOTHING.  Rules in life change all the time.  You can take a positive a 4 hours sell out and double down by offering more positive news.  

The Verium ICO was the last chance for VRC, and it looks like a FAIL. I missed the phase 1, so I sold before the recent price drop. There's too many other projects with better tech, better marketing, and better communities ... sorry, but VRC/VRM is a dead man walking. Phase 2 ICO is a crap deal

Already over 3.2 million VRC collected and you call this a FAIL? lol you made my day Sorry you missed phase 1.

[cyberhacker]

http://btc12.com/2016/08/17/verium-freshairfromvericoin/

this is review from btc12.com

btc12 is offering insides of recent ICOs

[souljah1h]

http://btc12.com/2016/08/17/verium-freshairfromvericoin/

this is review from btc12.com

btc12 is offering insides of recent ICOs

Thanks for sharing 

[souljah1h]

NOTICE

If you are a Top 250 VRC holder, you need to stake between July 20 and August 19 to recieve your reward. Reward will be 1 VRM for every 500 VRC you hold in your wallet.