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What is VeriCoin?
VeriCoin (ticker VRC) is a cryptocurrency created in May of 2014 by developers Douglas Pike and Patrick Nosker. VeriCoin uses a unique protocol, Proof of Stake Time (PoST), to verify transactions. Coin holders can earn interest by staking coins. In 2018 VeriCoin will be paired with Verium Reserve (ticker VRM) to create the world’s first binary chain.
Complete listing of links for social media, support, resources, etc.:
Fast: Transactions are extremely fast, currently 10 times faster than Bitcoin and even faster once VeriCoin pairs with Verium.
Cheap: Fees are negligible; fractions of a penny.
Secure: VeriCoin’s unique PoST protocol encourages decentralization and network security.
Earn interest: Coin holders can earn between  interest annually by staking their coins. Maximum interest 10%.
Binary chain: VeriCoin will be paired with Verium in 2018 to create the world's first binary chain. This will let the network scale automatically and be even more decentralized. Despite the recent popularity of centralized cryptos, VeriCoin developers are dedicated to creating the world’s most decentralized cryptocurrency.
Fair and Transparent: No ICO, no premine, fair staking protocol (does not favor large wallets), developers are well-known in the academic and crypto communities.
POST vs POS
Proof of Stake-Time (PoST) is a novel approach to forming a consensus. By introducing a stake-time component, the probability to stake increases over time. This better incentivizes staking and enhances the security of the network. It also enhances the decentralization of the consensus well beyond current standards.
Quoting from https://talk.peercoin.net/t/proof-of-stake-time/3504/12 :
"If we reward minters more for getting consecutive mints (not missing their window for minting) it will generate a kind of 'reputation' effect where honest minters are rewarded more. This will not directly increase blockchain security, but it will incentivize honest participation in minting over dishonest and so will indirectly improve our security. In crypto, coin inflation is paying for security; here we are attempting to give the inflation mainly to the people doing the most to keep it secure."
Supply, Inflation, Interest
(Insert supply chart)
As of this writing the circulating supply of VeriCoin is 30,577,669. VeriCoin is disinflationary, which means the inflation rate decreases over time. Specifically, 600,000 new coins are created ("minted") each year. Since the number of minted coins is fixed and does not increase, over time they represent an ever-smaller fraction of the overall supply. Newly-minted coins are distributed as interest payments to VeriCoin holders when they stake their coins.
The interest rate for staked coins is variable (VeriCoin was originally named "VariCoin" after the variable interest rate). Over a year's time it should average between %. The maximum rate is 10%. The current interest rate is always displayed in the Network Statistics section of the VeriCoin wallet.
The supply ratio between VeriCoin and Verium will settle into a 10:1 ratio in early 2019. Currently, Verium has a higher inflation rate so it can "catch up" with VeriCoin. Once the ratio of VeriCoin to Verium becomes 10:1, the Verium inflation rate will drop dramatically and the 10:1 ratio will be maintained from that point forward.
- No Premine, No IPO
- Minimum Transaction Fee: 0.0001 VRC (Paid to Stakers)
- ?Confirmations: 10, Maturity: 500
- ?RPC Port: 58683, P2Port: 58684
- 26,751,452.35 VRC Minted during PoW period
- Ended at Block 20160
- Block Time: 1 minute
- Exponential Difficulty Retarget Each Block
- 2,500 Coins For Each Mined Block
- Proof of Stake-Time
- Disinflation targeted interest
- Min Stake Time of 8 Hours for Interest
- No Max Stake Age or Amount
No mining necessary, just hold your coins in your open wallet on your PC/laptop or mobile device. Network-dependent disinflation targeted interest, is the mechanism for minimizing disinflation and maximizing interest on your investment in VeriCoin. The practical range of disinflation is between 1.5-2.5% and the practical range of interest is between 2-5%(Max 10%). Disinflation Targeted Interest? VeriCoin is a disinflationary currency via it’s PoST (Proof-of-Stake-Time) protocol. Disinflation is an ever decreasing rate of inflation over time. Most Proof of Stake currencies are inflationary. These PoS currency’s can face market supply saturation challenges due to ever increasing supply at an ever increasing rate of new supply (inflation). VeriCoin has the most economically sound, long term solution via PoST’s (Proof-of-Stake-Time) disinflationary model.
VeriBit 2.0 (Beta)
Spend VeriCoin Where Bitcoin Is Accepted VeriBit 2.0 (Beta) is a service which accepts VeriCoin payment for Bitcoin transactions. You can pay companies that accept Bitcoin using VeriCoin. VeriBit is currently restricted to 1.0 BTC sends. This restriction will be lifted in the future. You will be able to use VeriBit 2.0 (Beta) in your mobile and desktop wallet.
Blockchain Explorers and Tools
How To Buy VeriCoin
You can buy VeriCoin with Bitcoin at most major digital currency exchanges.
From Exchanges not quite sure what to do with it, doubt they all work
Poloniex June 21, 2017 Poloniex:https://poloniex.com Twitter:https://twitter.com/Poloniex A US exchange trading in numerous virtual currencies, including Bitcoin, Ethereum, Litecoin, VeriCoin and Dogecoin. For a crypto to crypto exchange there is good security and decent volume and Order book depth for the majority of its trading pairs. Trading fees are flat at 0.2% and deposit and withdrawal fees are subject to the blockchain’s specific minimum transaction fee. Vericoin Market: https://poloniex.com/exchange/#btc_vrc See Source Read full Article
Bittrex June 19, 2017 Bittrex: https://www.bittrex.com/ Twitter: https://twitter.com/bittrexexchange Vericoin Market: https://bittrex.com/Market/Index?MarketName=BTC-VRC Bittrex is a next generation crypto trading platform built and operated in the United States by crypto enthusiasts with extensive development and security background. See Source Read full Article
Livecoin May 3, 2017 Livecoin is a modern service for accessing cryptocurrency exchange markets. You are provided with a comfortable, practical and profitable platform with which to work with cryptocurrencies – suitable for both beginners and experienced traders. Livecoin: https://www.livecoin.net Twitter: https://twitter.com/livecoin_net Vericoin/Verium market: https://www.livecoin.net Contact:
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ShapeShift.io – Instant Coin Exchange May 3, 2017 ShapeShift is a web and API platform formed in August of 2014 to provide instant Bitcoin and altcoin conversion with the maximum level of consumer protection and efficiency. ShapeShift is a crucial piece of infrastructure in the world of Bitcoin. From start to finish, users can exchange blockchain tokens in seconds, with no account required. No emails or passwords. No lengthy signup process. No accounts. No bid and ask orders. ShapeShift’s goal is the fastest, safest, and most convenient way to swap digital assets. ShapeShift.io: https://shapeshift.io/ Twitter: https://twitter.com/shapeshift_io ShapeShift blog: https://info.shapeshift.io/blog ShapeShift videos: https://info.shapeshift.io/videos Contact: https://info.shapeshift.io/contact Step-by-Step: How to exchange bitcoin and digital assets with ShapeShift.io https://www.youtube.com/watch?v=n7OdD9HTT-4 See Source Read full Article
Bleutrade Cryptocurrency Exchange May 3, 2017 Since March 21, 2014 on the market, Bleutrade is a startup focused on cryptocurrency exchange based in Brazil, Porto Digital (Recife/Pernambuco), a leading technology hubs in Latin America known as the Brazilian Silicon Valley. Bleutrade is an exchange that allows users to exchange cryptocurrencies freely with each other, with safety and practicality, from any country in the world. Bleutrade: https://bleutrade.com Twitter: https://twitter.com/Bleutrade Bleutrade Official Thread: https://bitcointalk.org/index.php?topic=1067518.0 Trade: https://bleutrade.com/exchange VeriCoin Market: https://bleutrade.com/exchange/VRC/BTC https://bleutrade.com/exchange/VRC/DOGE How To Fund Your Bleutrade Cryptocurrency Trading Account:
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BIT.AC. Multicurrency Cryptowallet February 19, 2017 Bit.ac: https://bit.ac/ Twitter: https://twitter.com/bit_ac VeriCoin Web Wallet: https://bit.ac/vericoin The world’s most sophisticated multi currency crypto wallet with an integrated cross-currency exchange system. Bit.AC features a quick-opening wallet with over 12 different cryptocurrencies including Vericoin, as well as a simple and intuitive account management area. BIT.AC allows you to send, receive, exchange and even earn crypto coins.
Contact Information: BIT.AC Limited 71-75 Shelton street Covent Garden WC2H 9JQ London, UK See Source Read full Article
LiteBit.eu – buy/sell VeriCoin December 11, 2016 https://www.litebit.eu/en/buy/vericoin https://www.litebit.eu/en/sell/vericoin Payment Method iDeal, SEPA Bankwire, Cryptocurrency, Credits,SOFORT, GiroPay, Mister Cash, MyBank See Source Read full Article
How to buy VeriCoin with PayPal? December 11, 2016 Step by step: 1. Go to http://wesellcrypto.com 2. Getting started: http://wesellcrypto.com/limits 3 Select one of the four levels of verification and contact: email@example.com. (Level 1 – daily purchase limit of ~$15, minimum $3 ) Verification time – a few minutes to several hours This is a one-time activity. This allows you to use the services (affiliate): a. Dogecoin: https://weselldoges.com b. Reddcoin: http://wesellredd.com c. Darkcoin: http://weselldark.com Each service is the ability to purchase Cryptocurrency through Paypal.
shapeshift.io – servis known to us. http://wesellcrypto.com – LEGIT: Company is a registered US LLC and a Federal MSB registration # 31000058263889. http://fincen.gov/financial_institutions/msb/msbstateselector.html
Positive: From Paypal to wallet VRC in 5-10 minutes. (without the hassles of exchanges and multi-day waits) Negatives: CryptoCurrency exchange requires two web services almost simultaneously. It is not easy for a beginner. Service would be ideal – PayPal directly to VRC. What do you think? See Source Read full Article
Jubi exchange May 3, 2016 Poly currency net (www.jubi.com) by (Beijing) Technology Co. Ltd. was founded in January 2014, formally launched in March 2014, the core team consists of a number of interested virtual currency years of technical staff. In November 2014 (BtcTrade.com) acquired wholly Bitcoin trading network, for its competitive currency trading platform. Jubi: http://www.jubi.com Customer Service: firstname.lastname@example.org Vericoin market: https://www.jubi.com/coin/vrc/ See Source Read full Article