VeriCoin - Fast, Secure and Rewarding

Discussion in 'What is VeriCoin?' started by VCFAdmin, Jan 5, 2016.

  1. VCFAdmin

    VCFAdmin Forum Staff


    VericoinTwitter.jpg

    VERICOIN

    Extremely low transaction fees
    No central point of failure
    No charge-backs
    No counterfeiting
    Controlled by consensus
    Virtually instant transactions
    Efficient and streamlined

    Initially launched on May 10th, 2014, as of May 10th, 2015, VeriCoin is a Proof of Stake-Time Digital Currency that features VeriBit, VeriSend and a variable interest rate which fluctuates depending on the amount of total coins being staked as well as how long they've been staking.

    WHY DIGITAL CURRENCY?
    Less Costly. More Secure. Consensus Controlled.

    The peer to peer financial technology sector is a booming industry full of cutting-edge start ups and innovative development. Digital Currencies such as Bitcoin, and the underlying BlockChain technology, are not just buzz-words intended to disrupt existing remittance systems. The premise is undeniable.

    Digital Currency began with Bitcoin and is a new way of determining the authenticity of a transaction via a consensus on a secure network.​

    This removes two otherwise necessary middlemen, banks and governments. The currencies are minted and authenticated by the network securely and publicly.

    Because of this, no individual or group has more access to transaction data than the public, and without middlemen, the costs are fractions of the current standard.


    WHY VERICOIN?
    Fast, Secure and Rewarding
    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 Crypto Currency in existence - including Bitcoin.

    Developed by two Bio-Physicists and a Computer scientist from Rutgers University the Team has also obtained additional expertise in Steve Woods - a top tier C++ developer.

    The end goal remains the same - to simplify otherwise complicated technology and to foster unique partnerships who have the expertise to bring VeriCoin mainstream.

    *VeriCoin has weathered the initial Crypto Currency market volatility and crossed our two year anniversary on May 10th, 2016.

    Proof of Stake-Time: With two years under it's belt VeriCoin is now running on it's own, first of it's kind Proof of Stake protocol called Proof of Stake-Time, also known as PoST. PoST is now mature.

    VeriBit: VeriBit makes it possible to spend VeriCoin wherever BitCoin is accepted. Besides BitCoin itself, VeriCoin is the most spendable Digital Currency on the market.

    VeriSend: VeriSend is an optional privacy service which masks transaction data from prying eyes. It utilizes ring nodes, random transaction send amounts, and various other techniques to hide the send/receive connection from the world.

    WHAT IS PoST?
    Network Stake Dependent Disinflation Targeted Interest
    Proof of Stake-Time is a Blockchain protocol that features a variable interest rate which fluctuates depending on the amount of coins being staked as well as how long they've been staking.

    As more coins are staked users earn interest relative to the network stake weight, as well as how actively they've been staking their coins.

    This provides tremendous incentive to actively stake which, in turn, makes the network more secure. Our unique PoST protocol makes VeriCoin the most secure Proof-of-Stake Crypto Currency there is.



    MEET THE VERICOIN DEVELOPERS


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    Douglas Pike (@effectsToCause) was introduced to cryptocurrency by Pat Nosker. Since then he has passionately researched BitCoin and AltCoins. He concluded that a successful cryptocurrency required a stable community and innovative features, resulting in his Co-Creating VeriCoin with Pat. As an undergraduate at Richard Stockton College, he studied Biology and is currently pursuing a PhD at Rutgers University in Biomedical Engineering. His Computational Biophysics work includes being the lead developer of a novel protein design software library, as well as an author of numerous scientific publications. In addition to VeriCoin, Doug and Pat are co-inventors of a process to discover influenza therapeutics.


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    Patrick Nosker (@pnosker) started mining Bitcoin in late 2009 and then went on to mine Litecoin, Dogecoin, and BlackCoin. Fed up with stagnant development, he decided to team up with Doug and David to create VeriCoin. He studied Molecular Biology and Biochemistry as an undergraduate at Rutgers University and received high honors. He is currently pursuing a dual PhD in Biochemistry and Molecular Biology as well as Computational Biology and Molecular Biophysics. He also runs a technology website, www.pnosker.com. Pat holds 3 US patents and is co-inventor of five more including one on influenza therapeutics along with Doug Pike.

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    Steve Woods (@OnsightIT) was introduced to cryptocurrency in late 2013. Starting out as a bitcoin miner, he soon discovered the world of crypto-trading and began researching the markets and various alt-coins. Having come across VeriCoin in its early stages, he was excited to see a coin that was focused on usability, and with a development team that was not shrouded in anonymity. Looking for a place to help-out, he began tinkering with the code, and one thing led to another. Steve has over 30 years of programming experience - 23 of them with a Fortune 100 company as a Systems Engineer and Infrastructure Specialist. In addition to VeriCoin, Steve is an avid rock climber, and has traveled the world looking for the most aesthetic lines to climb.​

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    David Boehm (@VeriCoinDev3) entered the cryptoworld with Dogecoin. David attended Rutgers University with Pat and received his undergraduate and Master's degree in Computer Science with highest honors. As a recipient of the prestigious SMART scholarship, David worked for the US Department of Defense for the US Army Corps of Engineers as a software developer. David currently works for a "small" software company in Seattle as a Software Development Engineer for a cloud computing group.



    TECHNICAL INFORMATION

    - NO Premine, NO IPO
    - Proof-of-Stake-Time:
    Network-Stake-Dependent Disinflation Targeted Interest
    - Min Stake Time: 8 hours, No Max Stake Time or Amount
    - PoW ended at: Block 20160, Minted 26,751,452.35 VRC
    - Minimum Transaction Fee: 0.0001 VRC (Paid to Stakers)
    - RPC Port: 58683, P2Port: 58684
    - Confirmations: 10, Maturity: 500​


    Have questions about how VeriCoin can help empower you or your business?
    You're in the right forum! Ask away!

    - The VeriCoin Forums Team

     
    Last edited by a moderator: Nov 22, 2016
    Janek, Alben, Ernie_C and 1 other person like this.

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