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.
VeriCoin Digital Currency
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.
- VeriCoin Wallet
- Official Desktop Wallet [Windows/Mac/Linux]
Verium Digital Commodity
Verium Reserve (VRM) was created as an innovative and independent store of value asset in addition to supporting the VeriCoin blockchain. Verium 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.