What is Vericoin? Vericoin first sparked my interest when I heard some chatter about their proposed binary blockchain technology with the speculative ability to solve some of the major issues facing the crypto world. We put our algorithms to the test and found a lot of interest in the platform and it's tokens, so inevitably it made it into our dark horse listings. It wasn't until the 1st of December we decided to have a more in depth look when the tokens were at .48c growing to a pretty stable $1.08 as we speak. We've seen some interesting movements on varying trading platforms that didn't add up so with any cryptocurrency investment be wary of the scams. That being said though we see some pretty impressive potential behind the vision of Vericoin and wouldn't be surprised to see some pretty healthy growth through January. We better have a look into to what it is and what it's all about then.
Who are you Vericoin and why should I give you my money?
Much like if you wanted to get to know Hansel's story, you also need to know about Gretel. Well we quickly found out there's no Vericoin without Verium. Vericoin like many tokens with a bigger platform and vision behind them aim to solve a very real issue right now. Current digital currencies face the monumental task of trying to be both lightning quick and a secure store of value. This is easier said then done and is where Verium comes to the party. By utilising a binary chain between both Verium and Vericoin transaction times are able to be completed incredibly quickly which increases capacity and security. The fees for Vericoin are also incredibly cheap at less than a thousandth of a cent per transaction.
We believe based on the data interest, Vericoin will continue to grow over time as it has been over the last two months. When we first noticed Vericoin, Verium was sitting at a little above the $2 mark and has since risen to between $6-7 last check. The intended supply ration is 10:1 Vericoin to Verium. Think of Vericoin as the cash and Verium as the gold being held and mined. As both work hand in hand theoretically both will continue to gain momentum over time. Due to there being fewer Verium tokens it is likely to continue to be a more rewarding investment, but we believe in the long term growth of both tokens.
As always invest cautiously and keep an eye out for updates.
Nice write up on a truly dark horse. I have a lot of confidence with the "vericonomy" project for 2018. I think it is worth noting that VeriCoin also pays some handsome interest when you stake the coins in your wallet. One of the interesting things about the protocol is the variable interest rate depending on the percent of coins in the network actively being staked. Smaller amount of coins being staked, higher interest rate. The current rate is about 10%.
Couldn't agree more Kevin, the interest aspect is definitely an interesting one, it's always nice to see that ticking along in VeriCoin-Qt!