What is Verium Reserve Coin?
VeriumReserveCoin is part of VeriCoin’s binary blockchain . VeriumReserveCoin is a reserve cryptocurrency that can provide additional capacity for the VeriCoins transaction process. The crypto currency currently costs $ 3.38 per coin and has a market capital of $ 4.7 million. Of these, just under 370 thousand dollars are traded daily. (As of: 14.12.2017)
VeriumReserveCoin – How it works
VeriCoin and VeriumReserveCoin are both part of the Binary Blockchain protocol. The developers want to enable fast, secure and scalable transactions with the binary blockchain. The two cryptocurrencies each operate on their own blockchain. While VeriCoin uses the PoST algorithm, VeriumReserveCoin uses the PoWT algorithm. By combining both blockchains, VeriCoins can be transferred within 30 seconds. The transaction time of the Verium Reserve Coins is reduced to 1 – 3 minutes.
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VeriumReserveCoin uses the proof-of-work-time algorithm. This means that more miners also mean faster block times. This is how the developers avoid the scaling problem. The more miners dig at blocks, the faster they will be integrated into the blockchain. This is possible through the auxiliary mining protocol. This process is also referred to as merged mining . This means that transactions of the VeriCoin Blockchain can optionally be mined by the VeriumReserveCoin Blockchain. This increases the transaction speed of VeriCoin without having to mine the blocks for your own blockchain. This is done by VeriumReserveCoin.
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VeriumReserveCoin – The benefits
Transactions of cryptocurrency VeriCoin are up to 10 times faster than transactions on the Bitcoin -Blockchain. The use of VeriumReserveCoin makes them even faster. In addition, the safety of the cryptocurrency is increased, the more miners mine minerals VeriumReserveCoin. The cryptocurrency is also minbar over CPU, which increases more decentralization and security. The more miners run Verium’s mining software on the computer, the lower the likelihood of cyberattacks. The two cryptocurrencies can also be exchanged and traded. The two coins are available on the crypto exchanges Bittrex, Poloniex, Bleutrade and UPbit.
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The VeriCoin Foundation
The VeriCoin Foundation consists of the Development Department, a Marketing Department, Technical Support and the Global Initiatives Division. All areas cover the full spectrum needed to effectively market a cryptocurrency. The development department includes web development, mining hardware, mining software, bots, apps and programming in general. The marketing department handles content creation, social media, video, graphic design and more. Technical support is available to users to solve problems or to test a new feature. The Global Initiative division is concerned that VeriCoin can gain a foothold worldwide, which translates into various languages.
VeriumReserveCoin is part of the Binary Blockchain. Its primary purpose is to support the cryptocurrency VeriCoin and increase its transaction speed. Verium can be mixed with the PoWT algorithm via GPU, which does not necessarily give minors with ASICs an advantage. Interestingly, the more miners join the network, the faster the transaction speed gets. VeriCoin was born out of a need to provide a faster cryptocurrency than Bitcoin.
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