Verium Investment Overall Score: B+
VERIUM GROWTH POTENTIAL: B+
VERIUM SUSTAINABILITY SCORE: B
VERIUM BRAINS BEHIND CURRENCY: A-
Verium, ticker VRM, has a key dance partner when it comes to cryptocurrency. We cover its sister partner Vericoin in this same altcoin section and they come one after another. This is largely because they trade together and work together. Along with vericoin, Verium reserve looks to solve the speed and security issues facing the top coin cap providers. How do you maintain fast transactions and keep the user safe? It turns out that Binary-chain is a very good option.
As covered in our other article on Vericoin, Binary-chain brings together two separate blockchains and uses two different security systems. PoWT stands for Proof of Work Time. PoST stands for Proof of Stake Time. Both blockchains leverage one of these and the two combined create a harmony that makes transactions faster and more secure on both sides.
Verium.info states that when Vericoin an VRM are working together, Verium Reserve sees an improved transaction time. No longer does the currency take five minutes to transact on various exchanges. It now only takes 1 to 3 minutes. VRC also sees improved performance. Through the technology, there are two levels of decentralization that keep the end user safe and completely anonymous.
Because there are two levels of blockchain, Verium offers high mining rewards. Miners utilize the Proof of work time, or PoWT, to earn high level incentives for policing the network.
VRM is versatile in how it can be mined. It’s also the backbone of security for the two systems. Anyone with a PC, MAC, or any other CPU can participate in mining and securing the cryptocurrency. Verium and VRC together believe that this creates a more decentralized and thus ambiguous investing situation.
Verium essentially provides the secure mining background of the network while Vericoin uses its stake protocol to loan until a set amount of Vericoin is produced. The network scales quickly by implementing variable block-time. This paradigm increases transaction speeds as well as the speed of mining.
There’s also something called the Verium auxiliary mining protocol that also allows you to mine for Vericoin using the Verium Mining Vault. This makes sense given the two and their reliability on each other for transactions.
Through two levels of encryption, VRM and Vericoin have combined to create a fully secure and decentralized cryptocurrency network. While separate from each other, Verium Reserve and Vericoin provide tremendous value when combined with one another. Binary-chain technology is a game disruptor.
Verium and Vericoin Developers
We cover developers in our Vericoin article as well, but Verium has the minds of Doug Pike and Patrick Nosker behind the currency. These two together have about five phd’s on biochemistry and phiolosophy. Because they seem to be brilliant, they just decided to invade the cryptocurrency space one day. Pike, the Philosophy major, got a hold of a laptop and learned how to code. I mean REALLY learned how to code.
The team later added Steve Woods, Ben Mahala, and David Boehm. They added second and third teams to support them with front end and back end development. In terms of brains, this is one of the best crews in the business and they’re extremely diversified. Their educational specialties are unlike any other coin brains out there.
Reddit has been the wind behind the sails of Verium and Vericoin. It has gained a lot of popularity there as have many of the ICO’s that have come into play the last year. Verium and Vericoin supporters point to the speed of the network, the securing, and the brain trust behind what is going on with the cryptocurrency.
Verium is set to have an interesting mining setup. Supporters argue that this setup allows for longer term value of the currency. A restricted amount can truly be mined. The value of the currency begins to rest on Vericoin and its ability to charge interest rates on scarcity, and its ability to get HODLRs who in Vericoins terms will be Stakers.
The dual-band is also what has Verium investors excited. No other cryptocurrency is leveraging the same level of sophistication with two blockchains.
As with any new technology, those who are first to market face thousands of emulators. If VRM and VRC are to win in the cryptocurrency space with dual-network capabilities, they need to be aware that others will copy and enhance the current system. Just as many of the top 10 capped coins face competition from offshoots, Verium and Vericoin could quickly see their advantages quelled by a new competitor.
In addition, the operation of the currency and the value of two separate currencies is tough to understand. We understand it brings advantages, but two levels of trading make it difficult to articulate. With any luck, the move to have the two be interchangeable will change some of the value trap. VRM offers mining advantages while VRC provides short term interest spikes.
We don’t have a crystal ball, and some of the altcoins can be really difficult to gage. Vericoin and Verium have a very big advantage because they were first to market with a strategy. Sometimes that means everything. Often times it just means you’re a target.
On the other side, everyone is a target in this highly speculative market, and Vericoin and Verium are the only ones that give you this angle for investing in cryptocurrencies backed by the strength of two blockchains.
If you want to invest in Verium, you’ll need to deposit your fiat currency and buy Bitcoin, Ethereum, Litecoin, or Bitcoin Cash on coinbase. Then you’ll need to initiate a transfer with a system like Binance where you also have a wallet. At that juncture, you can then buy Verium and Vericoin with the cryptocurrency you transfer to Binance from Coinbase. For more information, read our article here.
Thanks for reading and good luck investing out there!