Verus Coin, (/vair’ us koin/; VRSC) is a zk-SNARK-supporting digital asset which is a privacy-focused “friendly fork” of the Komodo (KMD) platform blended with a modified version of the Zcash code. The developers are deeply involved with the Komodo project having contributed heavily to its technology as well as integrating Zcash Sapling upstream to all Komodo blockchains.
Developers of Verus Coin have implemented a unique hash algorithm known as VerusHash 2.0. This quantum-resistant hash algorithm bridges the performance gap between CPUs, GPUs, and even FPGAs and is designed to resist the monopolization of its hash power from ASIC mining.
The project also introduces a new consensus algorithm called Proof of Power (PoP) which employs proof-of-work and proof-of-stake in equal measure as an answer to the disadvantages found with each. The PoP algorithm is provably immune to 51% hash attacks, making Verus Coin one of the most double-spend resistant public blockchain(s) running.
Verus Coin derives its name from the latin word for “truth” or “fairness” and places strong emphasis on these principles as they relate to the project’s goals. “True virtue cannot be bought,” is a key overarching premise and as such, it was launched fairly with no premine or ICO. The realization of Verus Coin’s vision is divided into four phases, and the establishment of their mainnet demonstrates the completion of Phase I.
Phase II sees the beginning of Verus Coin working toward its vision of enabling a better society through blockchain via “public blockchain as a service” (PBaaS). The team anticipates a high demand for such a service in enabling other projects to build upon successfully and securely. The technology presented as such has an agnostic quality to invite adoption among newer blockchain development efforts.
For their own specific use of the platform established with the mainnet, Verus Coin seeks to operate opinion and information-gathering polls which retain privacy, accuracy and integrity. These and other endeavors will be anchored to the primary store of value of Verus Coin itself.
Polling, voting and election systems will be designed to gather information in a trustless, decentralized and anonymous fashion. This will be carried out through the establishment of an ecosystem that not only allows for the free expression of opinion but even incentivizes it. For Verus Coin, sharing knowledge and opinions without the fear of reprisal has the potential to greatly benefit or even revolutionize human interactions on a global scale.
Roots to Branches
To support the services offered by PBaaS, distinct blockchains will operate in parallel to the Verus mainnet. These are known as autochains and are comparable to asset chains in the Komodo ecosystem. They are secured by the miners but also kept separate from the congestion and disruption that having multiple applications on the main blockchain would cause. Each autochain will be specifically related to a particular poll or election and thus enable a high degree of scalability.
Once the autochains are implemented, an additional source of consensus for the network will be incorporated to ensure the results of information recorded there. Proof of virtue (POV) will be based on activity and behavior within an autochain and is similar to holding a requisite amount of stake in a proof-of-stake network. POV assets cannot be sold or bought but can be staked to verify confidence in an attestation of truth.
The Verus Coin community is open to all, encourages people to get involved and welcomes healthy discussion on how to work toward its goals. Their priority is on keeping their principles in focus while implementing high-quality technology over a “marketing first” approach. Cooperation and maximum utility are aspects that those involved continually strive to uphold.
Want to know more, or experience the VerusCoin community firsthand?
Official website: https://veruscoin.io/