Introducing Verium
The World’s First CPU Mineable Digital Commodity
Why Verium
Verium (Ticker: VRM) was created to be an innovative, independent store of value asset, in addition to supporting the VeriCoin blockchain. Verium solves the blockchain scaling issue by introducing a new variable block-time paradigm that speeds up as mining power increases. This allows Verium to automatically scale, enhance transaction speed and capacity, while ensuring security at any level of mining. Through Verium’s auxiliary mining protocol (AuxPOW), Verium will also process VeriCoin blocks. This process will speed up VeriCoin’s block-time to 30 seconds or faster. This enables VeriCoin’s network to provide an efficient and scalable ecosystem for consumer transactions well beyond current standards.
PoWT Blockchain (Proof of Work Time)
Proof of Work-Time (PoWT) is a novel approach to forming a consensus by introducing a variable blocktime that scales with mining power, where the blockchain speeds up with power increases. This better scales the blockchain, increases transaction speed with power and allows for auto-adjusting more profitable mining.
Verium Specs
Proof of Work-Time
- Difficulty dependent blocktime (Max ~6.2 minutes, minimum 15 seconds)
- Rewards: Blocktime dependent rewards (~Reward halving every minute decrease in blocktime till 10x VRC supply parity, then variable ~3% disinflation)
- Algo: scrypt² (N of 1024² or 128MB per thread)
- Block 1: 564,705 VRM minted for ICO participants who purchased VRM using VRC
- Minimum Transaction Fee: 0.2 VRM (High commodity transaction fee paid to miners)
- RPC Port: 33987, P2Port: 36988
- Confirmations: 30, Maturity: 100
CPU Mining
The days of needing specialized computing hardware and sophisticated know-how to mine digital currency are over. Anyone can easily mine Verium. Just download the Verium Vault software to any computer, click mine and starting earning Verium, the digital gold that backs the digital currency VeriCoin. Verium is one of the few digital currencies that can not be mined by specialized GPUs and ASICs.
Why Is This Important?
By making it easy for anyone and everyone to mine Verium, we create a more decentralized system. Did you know that right know China accounts for over 2/3rds of all Bitcoin mining power? (source Bloomberg.com)
CPU Mining
The days of needing specialized computing hardware and sophisticated know-how to mine digital currency are over. Anyone can easily mine Verium. Just download the Verium Vault software to any computer, click mine and starting earning Verium, the digital gold that backs the digital currency VeriCoin. Verium is one of the few digital currencies that can not be mined by specialized GPUs and ASICs.
Why Is This Important?
By making it easy for anyone and everyone to mine Verium, we create a more decentralized system. Did you know that right know China accounts for over 2/3rds of all Bitcoin mining power? (source Bloomberg.com)
Power Based Rewards
As mining power increases the reward slowly decreases, this mechanism makes the reserve commodity supply curve drop based on increased demand and can drive a value increase over time and increased usage.
Digital Gold Standard
By building a consensus-paired digital ecosystem, the currency (VeriCoin) can scale to mass usage and remain extremely inexpensive, and the reserve commodity (Verium) can scale while stabilizing value via a growing supply cost.
Digital Gold Standard
By building a consensus-paired digital ecosystem, the currency (VeriCoin) can scale to mass usage and remain extremely inexpensive, and the reserve commodity (Verium) can scale while stabilizing value via a growing supply cost.
Live Verium Block Explorer
Join The VeriCoin Foundation
Do you want to join a fast-growing international community committed to to further improving VeriCoin?
Visit the VeriCoin Foundation page to learn how you can get involved today.