What is VeriCoin Crypto Currency?A brief description of VeriCoin.
VeriCoin is a Proof-of-Stake-Time Digital Currency Community with a long term vision to help make Blockchain Technology globally accessible
VeriCoin Video
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The purpose of VeriCoin
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VeriCoin Abstract
A purely distributed consensus in an efficient digital currency would enable a nearly instant and nearly free transaction system across the globe; independent of border, nation, government or bank. We herein propose a time-accepted nonlinear consensus that maintains the efficiencies of Proof-of-Stake, while increasing the distribution and security of the consensus system with a diminishing probability to find a proof and receive reward over time.This is achieved via a periodic time-acceptance function that is proportional to the coins held and relative to network strength. This time-acceptance model ensures that relatively active staking maximizes reward and probability to form consensus via proof. This incentivizes direct and active protection of the network. Furthermore, voluntary participation in the network is driven by an inflation targeted interest rate that is inversely proportional to network strength. This increasingly rewards nodes which consistently reinforce network security. This is in addition to a time-diminishing inflation rate that is proportional to network strength and active participation in reaching consensus, and relative to the Proof-of-Work distributed initial supply. A combination of costs and rewards favors direct participation in the protection of the consensus, providing enhanced security, equability, and distribution of both consensus and currency over time.
More information can be found in the VeriCoin whitepaper http://www.vericoin.info/downloads/VeriCoinPoSTWhitePaper10May2015.pdf
Other VeriCoin facts
- Trading symbol: VRC
- Governance: Centralized > Flat
- Open source: Yes
- Product status: Fully working product
- Consensus method: Proof of Work & Proof of Stake
- Emmission rate: No new tokens created
- Transactions per second: Unfortunately we don’t have this data available.
- Total Supply: N/A
- Release date: 2014-05-10
Usefull VeriCoin links
- VeriCoin’s Website
- VeriCoin pricing data & fundamental VeriCoin information
- VeriCoin’s Website
- VeriCoin official blog
- VeriCoin’s Bitcointalk Forum
- VeriCoin’s Reddit Forum
- VeriCoin’s block explorer
- VeriCoin’s Alexa site stats
- VeriCoin’s official forum: Unfortunately we don’t have this data available.
- VeriCoin’s Github code repository:
https://github.com/vericoin/vericoin - VeriCoin’s roadmap:
http://www.vericoin.info/downloads/roadmap_V1.pdf - VeriCoin’s team page: https://portal.vericoin.info/vericoin-team/
- VeriCoin’s whitepaper: http://www.vericoin.info/downloads/VeriCoinPoSTWhitePaper10May2015.pdf