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May 07, 2019, 03:43:03 PM |
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VeriCoin and Verium Reserve are two coins from the same project. VeriCoin is Proof of Stake and Verium Reserve is an ASIC and GPU resistant POW coin that will have their blockchains interwoven to bring the strengths of each consensus mechanism without the downsides of either. VeriCoin and Verium Reserve will gain adoption because the binary chain (the interwoven blockchain mentioned above) means they're profitable for the average user to mine/stake. The genius of combining two different crypto assets (Proof of Work Verium Reserve, Proof of Stake Vericoin) on the same blockchain means you get the best of both worlds: a profitable commodity that the average user can mine with their CPU (VRM), and an ultra-fast, near-zero fee currency that anyone can stake for interest (VRC).
The binary chain solves the "fee market" problem that Bitcoin has with its huge fees. It also scales automatically so backlog will never be a problem, and it's already 10x faster than Bitcoin (even faster once the binary chain is implemented).
Everything about this project is clean and fair. No shady premine, devs identities are known (not anonymous), VRM mining is available to everyone with a CPU (It's ASIC and GPU resistant), VRC staking from the official wallet couldn't be easier to set up. You literally just have to hit a button that says "Stake", so participation in this network is a piece of cake which leads to unparalleled decentralization.
The Binary Chain is the bread and butter of this project, but there's plenty more cool stuff on the roadmap, for example Aliases, so you can register a name and then just send to "Joe" instead of a long hex string, private messaging, and a p2p exchange built right into the wallet for swapping between VeriCoin and Verium Reserve.
The market cap for these coins are is absurdly low (currently under $4 Million for VRC and under $500,000 for VRM), probably because it's the world's first binary chain so the benefits aren't easily understood. DYOR and tell me you aren't at least a little intrigued. This project has the potential to be the cryptocurrency we all want. Something that anyone can mine and stake, with low fees, fast transaction times, and it's super decentralized because literally anyone can participate by staking with an open wallet or mining with an old CPU. This is what cryptocurrency is supposed to be, and the current valuations are absolutely minnescule.
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