VeriCoin (VRC) 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. Launched in May, VeriCoin is a proof-of-stake altcoin that features a variable interest rate which fluctuates depending on how many coins are staking. As more coins are used to stake and support the network, the interest rate climbs.
The Proof of Stake-Time (PoST) the VRC uses now is a novel approach to forming a consensus by introducing a stake-time component, where the probability to stake decreases over time. This better incentivizes staking and enhances the security of the network. It also enhances the decentralization of the consensus, well beyond current standards. The practical range of disinflation is between 1.5-2.5% and the practical range of interest is between 2-10%.
- Scrypt Algorithm PoW + PoS
- 2500 Coins For Each Mined Block
- Block Time: 1 minute
- Difficulty Retarget Each Block
- PoW Phase: Ended at Block 20160, Minted 26,751,452.35 VRC
- Proof-of-Stake-Time: Disinflation Targeted Interest
- Min Stake Time: 8 hours, No Max Stake Time or Amount
- Minimum Transaction Fee: 0.0001 VRC (Paid to Stakers)
- Confirmations: 10, Maturity: 500
– Online Staking Wallet
– Mac OS
– at GitHub
– RPC Port: 58683
– P2P Port: 58684
No mining pools, the coin is currently PoS only.
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- In: Crypto Coins
- Tags: scrypt, Vericoin, VeriCoin crypto, VeriCoin exchange, VeriCoin info, VeriCoin mining, VeriCoin pool, VeriCoin trading, VRC, VRC exchanges, VRC info, VRC mining, VRC pools, VRC trading