ASIC & GPU Resistant
This is really innovative in the world of cryptocurrencies, but the innovation does not stop there – as a miner, you will be mining the commodity (the gold), rather than the currency. This adds a whole new layer of possibilities and benefits for those mining and using VeriCoin, and it makes this duo (VeriCoin and Verium) more stable, decentralized and secure than Bitcoin.1stMiningRig.com
Independent Store of Value Asset Supporting the VeriCoin Blockchain
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.
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.
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.