Verium - The Crypto 'Gold-Standard': A currency and a reserve
US, August 3, 2016 at 23:56 UTC
August 3, 2016 - 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 http://www.vericoin.info/ico.html starting on 8/1 at midnight 00:00 GMT. For the next 18 days 350,000 Verium (12.5% of the supply) will be available to purchase exclusively using Vericoin. 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.
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".
Verium - Phase Two (Proportional stage)
The ICO for Verium will run for 18 days starting on 8/1 midnight GMT with 10 VRC/VRM Minimum price of your share of total VRC raised is your fraction of 350,000 VRM.
Instructions are be available at http://www.vericoin.info/ico.html.
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 is Vericoin PoWT (Proof of Work Time) commodity. The variable block time paradigm of Verium does a number of great things. It increases blockchain performance with security. It automatically addresses the scalability issues inherent in Bitcoin and has yet to be solved. 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 maintaining security with a corresponding block time. ASIC and GPU resistant due to memory hardness.
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