WHY DIGITAL CURRENCY?

Less Costly. More Secure. Consensus controlled.

Trust the math.

Digital currency started with Bitcoin and is a way to determine the authenticity of a transaction via consensus on a secure network. This removes two otherwise necessary middlemen - banks and government.

Currencies are minted and authenticated by the network securely and publicly. As a result, no individual or group has more access to transaction data than another.

This is all done at costs that are fractions of the current banking standard.

Extremely low transaction fees
No central point of failure
No charge-backs
No counterfeiting
Controlled by consensus
Virtually instant transactions
No Third Party

NEWS

The latest VeriCoin news

Verium ICO in late July!

Verium will be a paired Digital Reserve that will further decentralize, speed up and automatically scale VeriCoin while bringing optional cost-based value into the ecosystem...



Check out the ANN!

Development Team

Patrick Nosker
Douglas Pike
Steve Woods
David Boehm

SPECIFICATIONS

Proof-of-Stake-Time Verified. Proof-of-Work Distributed. Network-Stake-Dependent disinflation Targeted Interest.

INNOVATIVE AND GAME-CHANGING

VeriCoin is an innovative and intuitive currency, that features it's own protocol.

Launched in May of 2014, VeriCoin is a Proof-of-Stake-Time currency with a disinflation targeted interest rate which is dependent on the degree of staking. Stake-Time is a new proof that favors both number the number of coins held and how often they are staked. Together these features make VeriCoin top in security and incentive.

No Premine, No IPO, No ICO
Proof-of-Stake-Time: Disinflation Targeted Interest
Min Stake Time: 8 hours, No Max Stake Time or Amount
PoW Phase: 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
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What is it anyway

Network stake-dependent disinflation targeted interest is the mechanism in which the amount of coins minted during the proof-of-stake phase occurs. Instead of a flat interest, Vericoin's interest rate is targeting for an disinflation rate that ranges from 1.5-2%. This allows for rapidly increasing stake interest rates while network strength is low, creating a powerful incentive to stabilize the network when staking is needed most. In addition, an individual who actively stakes receives significantly larger interest payments over the lifespan of a user compared to the current model. Lastly, since the interest rate is targeted to an disinflation rate which is calculated against 26,751,452 (the total number of VRC produced during the initial Proof-of-Work phase), PoST disinflation rate is non-compounded and decreasing relative to total supply over time. This disinflation-targeted interest mechanism ensures an disinflation rate which gradually diminishes over time, rewards active stakers most, while encouraging distribution of consensus.

verifund

Donate here:

VRC: VTHZfUg11wEJmSgBLUcmCKGYekuqFcGHQq
BTC: 1LRWAyE3WKwTzXszEmtqKXzikQvoq7NJBa

VeriSend Information

VeriSend is a service which attempts to mask 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.

Fees are set to be 2 VRC + less than 1.5% of total transaction to cover mixing costs and dissuade unnecessary use of this system as it bloats the blockchain.

For increased security we recommend you send to multiple addresses. To do this, ask the recipient to give you 5 addresses to send to and your payment will be divided up to all of them.

Mixing cycles represent the amount of time your coin sits within the ringnodes washing from wallet to wallet. Each cycle takes between 30-90 minutes. The more cycles you allow, the more difficult your transaction will be to track.

You can use VeriSend in the wallet.

VeriBit Information

VeriBit 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 can use VeriBit in the mobile and desktop wallet.

The VeriCoin SMS wallet system functions as a remote, text-based gateway to the VeriCoin network. You can control it using the following commands.

Command List:
"Balance" Returns with your current VeriCoin balance.
"setpassword" Sets your password (setpassword {password}). To change a password use (setpassword {oldpassword} {newpassword}). To use, add your password to the end of any command, ie. (balance {password}).
"Send {VRCADDRESS or PHONE#} {Amount of VRC}" Withdraws VeriCoin to the provided address or phone number. Syntax: "send VTHZfUg11wEJmSgBLUcmCKGYekuqFcGHQq 100.5281" would withdraw 100.5281 VRC to VTHZfUg11wEJmSgBLUcmCKGYekuqFcGHQq. Likewise, the command "send 19085551234 284.1852" would send 284.1852 VRC to the phone number 19085551234. If 19085551234 does not have a VeriCoin wallet, one will be generated and 19085551234 will be messaged asking to accept or decline the deposit. No answer for 7 days will return the balance to the original wallet.
VeriCoin SMS Gateway Numbers:
Canada 14387939404
France 33644630100
South Africa 27877460001
South Korea 825080825055
Sweden 46769432533
United Kingdom 447520635944
United States of America (Some networks are incompatible including possibly Google Voice) 14387939404
For any assistance with the VeriCoin SMS wallet, please contact sms@vericoin.info. Please understand the risks of using SMS to control your VeriCoins. Because of this we cannot guarantee any funds stored on the VeriCoin SMS wallet.

The VeriCoin Incubator Project

VeriCoin needs a strong and vibrant community to grow. That's why we have started the VeriCoin Incubator Project. The Incubator Project is designed to provide an opportunity for new developers to create applications for VeriCoin.

A developer has many risks that he or she must take in order to build for a new platform. Besides the time cost of building something new, other risks include acquiring some VeriCoin to test a finance application or interfacing with an API to get address balance information, and more.

VeriCoin is prepared to help new developers build applications. The VeriCoin Incubator Project offers startup VeriCoin as well as developer support via email which can help a new or young developer build his or her first application for VeriCoin.

If you would like to participate in the VeriCoin Incubator Project, please send an email to incubator@vericoin.info.

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.
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.
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 500 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.
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 Washington as a Sofware Development Engineer for a cloud computing group.