A cryptocurrency is a decentralized transaction system that generally allows people to send currency to one another over the internet without the necessity of a reliable outsider such as a bank or financial institution. The transactions are economical, and in lots of circumstances, they are free.
Bitcoin is the first and the most accepted cryptocurrency in the world but definitely not the sole one. After the achievement of Bitcoin, many new currencies emerged in the digital world, mined through computer systems belonging to users throughout the world. One of these new currencies is VeriCoin which is likewise the first altcoin to be acknowledged by merchants, anywhere Bitcoin is accepted. Any merchant or service that takes Bitcoin as payment can automatically accept VeriCoin via VeriBit. So, it’s simple to include VeriCoin in your daily life. Crypto currencies are rich of technologies and complication but most of them are not so simple to use. VeriCoin is benefiting from this largely available potential and launch a cutting-edge feature that enables the better part of the world to make use of VeriCoin nearly irrespective of class and country.
VERICOIN - PROOF OF STAKE TIME.
Proof of Stake Time (PoST ) is the first non-linear Proof-of-Stake system and improves upon several aspects at once. In addition to a novel new interest mechanism, how actively you stake your coins is now factored into your probability to complete a block. This approach greatly increases security while improving distribution of the consensus.
PoST is more fair, more secure and provides more incentive.
For more information about Proof-of-Stake-Time please review the White Paper here.
VeriBit is a service which accepts VeriCoin payment for Bitcoin transactions. You can pay companies that accept Bitcoin using VeriCoin. You can use VeriBit in the mobile and desktop wallet.
VeriSMS functions as text-based gateway and wallet system that links the cell network to the VeriCoin network. VeriCoin users can load VeriCoins onto this wallet and use the SMS network to make transaction around the world.
VeriSend is an optional privacy sevice which 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.
Network-stake-dependent inflation targeted interest, is the mechanism for minimalizing inflation and maximizing interest on yur investement in VeriCoin. The practical range of inflation is between 1.5-2.5% and the practical range of interest is between 4-10%.
More information about VeriCoin you can find on its official website: http://www.vericoin.info/