VeriCoin and Verium: A digital currency and a reserve.

VeriCoin and Verium: A digital currency and a reserve.

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A cryptocurrency is a decentralized transaction system that generally allows people to send currency to one another over the internet without the necessity of a reliable outsider such as a bank or financial institution. The transactions are economical, and in lots of circumstances, they are free. The implication of this is often done by everyone having an entire copy of all the transactions that have ever happened with Bitcoin. This produces a remarkably strong network, which implies that no one can change or reverse any of the transactions. Bitcoin is a type of cryptocurrency that is autonomous from traditional banking and came into circulation in 2009. Bitcoin is undoubtedly the most recognized digital currency that depends on computer networks to fix complicated numerical issues, file and so as to confirm the details of each transaction made.

Bitcoin is the first and the most accepted cryptocurrency in the world but definitely not the sole one. After the achievement of Bitcoin, many new currencies emerged in the digital world, mined through computer systems belonging to users throughout the world. One of these new currencies is VeriCoin which is likewise the first altcoin to be acknowledged by merchants, anywhere Bitcoin is accepted. Any merchant or service that takes Bitcoin as payment can automatically accept VeriCoin via VeriBit. So, it’s simple to include VeriCoin in your daily life. Crypto currencies are rich of technologies and complication but most of them are not so simple to use. VeriCoin is benefiting from this largely available potential and launch a cutting-edge feature that enables the better part of the world to make use of VeriCoin nearly irrespective of class and country.

VeriCoin is the only PoST (Proof of Stake Time) crypto-currency established on May 2014 by Douglas Pike, Patrick Nosker and David Boehm. With one second transactions, sixty second confirmations, a multitude of features such as VeriBit, VeriSend, a BIP32 Lite Android Wallet and a very user friendly Desktop Wallet. VeriCoin is a much quicker, more intuitive, more efficient Peer to Peer Digital Currency than any traditional banking system or even Digital Currency in existence - including Bitcoin.   

Verium will be the first reserve commodity enforced by the protocol PoWT and Vericoin via PoST and will continue to be a near costless decentralized currency.  This would treat PoW differently in that it would be exclusively a tradable scarce resource.  The currency and reserve roles are incentivized via higher minimum send fees of Verium and slower block-times, which enable stable, secure mining and dis-incentivizes spending.  This way there are value added costs that are required to enhance the entire system, yet not necessary for a seamless, near costless, fully decentralized currency.

As Vericoin/Verium Co-developer Douglas Pike states "Verium brings more security, faster transaction times and lower fees in VeriCoin the currency through Verium the reserve commodity".

After a record shattering sellout of Phase I of the Verium ICO, the Vericoin developers are proud to announce that the second phase of Verium ICO is once again available to purchase at starting on 8/1 at midnight 00:00 GMT. This is a novel way to get into one of the most anticipated crypto commodities of 2016.  The parallel relationship between Vericoin and Verium is the first of its kind and ushers in a new era of digital currency.

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