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Author Topic: [ANN] Binary-Chain - VeriCoin and Verium - The First Dual-Blockchain Protocol  (Read 5481 times)
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effectsToCause
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VeriCoin Creator/Developer


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November 10, 2017, 09:42:34 PM
 #1














---------------------------------------------------------------------


Co-Creator Douglas Pike (effectsToCause) Explaining the benefits of the Binary-Chain technology:



Social Links


Swap (VRM/VRC):
Livecoin


VeriCoin Links
VeriCoin Wallet 1.7 NEW

Verium Links
Verium Vault 1.1 NEW


VeriCoin Specifications
VeriCoin Launched: May 10th Midnight EST, PoW Ended May 17th 2014, PoS only
Launched in May of 2014, VeriCoin is a Proof-of-Stake-Time currency with a disinflation targeted interest rate which is dependent on the degree of staking. Stake-Time is a new proof that favors both number the number of coins held and how often they are staked. Together these features make VeriCoin top in security and incentive.
Network
No Premine, No IPO
Minimum Transaction Fee: 0.0001 VRC (Paid to Stakers)
Confirmations: 10, Maturity: 500
RPC Port: 58683, P2Port: 58684
Scrypt
26,751,452.35 VRC Minted during PoW period
Ended at Block 20160
Block Time: 1 minute
Exponential Difficulty Retarget Each Block
2,500 Coins For Each Mined Block
Proof of Stake-Time
Disinflation targeted interest
Min Stake Time of 8 Hours for Interest
No Max Stake Age or Amount

Verium Specifications
Proof of Work-Time: Difficulty dependent blocktime (Max ~6.2 minutes, minimum 15 seconds)
Rewards: Blocktime dependent rewards (~Reward halving every minute decrease in blocktime till 10x VRC supply parity, then variable ~3% disinflation)
Algo: scrypt² (N of 1024² or 128MB per thread)
Block 1: 564,705 VRM minted for ICO participants who purchased VRM using VRC
Minimum Transaction Fee: 0.2 VRM (High commodity transaction fee paid to miners)
RPC Port: 33987, P2Port: 36988
Confirmations: 30, Maturity: 100
Variable block time:
It automatically addresses the scalability issue BTC has.
It increases blockchain performance with security.
It softens the difficulty mechanism without loss of security, so that mining power can grow more efficiently and organically.
Rewards in minutes per mining between blocks enables more profitability of mining that is dependent on power and time burning electric.
A decreasing reward as the blockchain speeds, incentivizes a balance of efficiency and power, while reducing new supply based on demand.
ASIC and GPU inefficient and resistant due to memory latency.
So as a standalone PoW it will be one of the best and most innovative approaches to PoW.

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BaNgTHai
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November 10, 2017, 09:45:54 PM
 #2

isn't this an old project?
jacko0088
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VeriumReserve Miner


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November 10, 2017, 09:46:50 PM
 #3

Here we are Smiley
MadeInUkraine
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November 10, 2017, 09:54:43 PM
 #4

Very good new announce. I see good (very good) perspectives. I'm also VeriumReserve miner! Thanks for all team!
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..like bright metal on a sullen ground.


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November 10, 2017, 09:56:07 PM
 #5

isn't this an old project?


Old and new.

Vericoin:
Quote
VeriCoin Launched: May 10th Midnight EST, PoW Ended May 17th 2014, PoS only

845 days later...

Verium:
Quote
Details for Block #1
Hash   3f2566fc0abcc9b2e26c737d905ff3e639a49d44cd5d11d260df3cfb62663012
Date/Time   2016-09-01 00:04:47
https://chainz.cryptoid.info/vrm/block.dws?3f2566fc0abcc9b2e26c737d905ff3e639a49d44cd5d11d260df3cfb62663012.htm


Binary-Chain integration: TBD

KaptainBlaZzed
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November 10, 2017, 09:58:49 PM
 #6

nice, buy VRM/VRC now!! Grin

Verium to the Moon!!  MINE VRM or the CAT GETS IT!!!
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November 10, 2017, 09:59:51 PM
 #7

isn't this an old project?


Is Bitcoin an old project? lol
mainconcept
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November 10, 2017, 10:04:17 PM
 #8

So is this project like NXT and Ardor, with their different blockchain streams, like child streams? What compeditors do you have?

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November 10, 2017, 10:14:39 PM
 #9

It is very interesting project because it looks like this is indeed the first dual blockchain protocol that I know.
Will definitely many interested in investing in this project.

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November 10, 2017, 11:31:14 PM
 #10

An old and unique one  Cool

instagram: praguetoday
№1 city blog in Prague
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November 11, 2017, 12:13:15 AM
 #11

Love the new announce! Greatly looking forward to development updates.  Grin
BaNgTHai
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November 11, 2017, 12:17:16 AM
 #12

isn't this an old project?


Is Bitcoin an old project? lol

Bitcoin is old, good observation
MAD945
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November 11, 2017, 12:40:29 AM
 #13

isn't this an old project?


Is Bitcoin an old project? lol

Bitcoin is old, good observation

Likewise
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November 11, 2017, 01:55:47 AM
 #14


Yes me too

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November 11, 2017, 07:14:59 AM
 #15

Great to see the new announce thread! It's good to start with a clean slate from time to time. The past is always a valuable resource for information and I'm sure that the past is still cataloged here, but the present and future of VeriCoin and Verium are the cats ass! So lets keep the questions coming, the news going, and community growing!
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November 11, 2017, 05:23:22 PM
 #16

will it be better to hold VRM or VRC? thoughts?
BitCoinDragon
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November 11, 2017, 09:44:01 PM
 #17

It is great to see the VRC/VRM team grow!
Keep it up guys!

Silk: BTGDqaWtC2DpEJsk16f9AobR6mz96vHn4A
bitnod
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November 12, 2017, 04:18:41 AM
 #18

Super project, beautiful community, good team, very good developer. trader & crypto Worker since 2016.

Only negative point, since 4-5 months:

- requires big investment worker now
- diff to explode

Profit !!

probably datacenter in chinese or other .. why ?!
You will see workers 15Kh/s, 20Kh/s scrypt² .... on the pools

Indicative HashPower
Ex algo: 15-20 Kh/s cryptonigh (Monero) = ~ 2 Kh/s scrypt² verium. Currently.

Hard Smiley

฿tc tip:12uCvGyKi7B8EzXQAVPGwzRq1tBAsrLeBZ
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November 12, 2017, 05:11:56 AM
 #19

Super project, beautiful community, good team, very good developer. trader & crypto Worker since 2016.

Only negative point, since 4-5 months:

- requires big investment worker for now
- diff to explode

Profit !!

probably datacenter in chinese or other .. why ?!
You will see workers 15Kh/s, 20Kh/s scrypt² .... on the pools

Ex algo: 15-20 Kh/s cryptonigh (Monero) = ~ 2 Kh/s scrypt² verium. Currently.

Hard Smiley

Botnets are a problem for most CPU coins in particular Verium and Zoin attract a lot of interesting mining traffic but it is still quite possible to earn coins as a small scale miner and the movement to mine using SBC/ARM has really made it a lot of fun as well. I do wish they (botnets) were not part of the mix but its really not that different to giant ASIC or GPU farms in other coins or POS coins where 2-3 individuals hold 50% of the supply.  

Verium/Vericoin are 100% in the sleeping giants category with technically competent team members, reasonable coin supplies and true innovation.
bitnod
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November 12, 2017, 06:24:33 AM
 #20

compared to some algo, VRM should not be too impacted by botnets  Grin

฿tc tip:12uCvGyKi7B8EzXQAVPGwzRq1tBAsrLeBZ
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