Verium - The Crypto 'Gold-Standard': A currency and a reserve

Verium - The Crypto 'Gold-Standard': A currency and a reserve

After a record shattering sellout of Phase I of the Verium ICO, the Vericoin developers are proud to announce that the second phase of Verium ICO is once again available to purchase at starting on 8/1 at midnight 00:00 GMT. 

For the next 18 days 350,000 Verium (12.5% of the supply) will be available to purchase exclusively using Vericoin. This is a novel way to get into one of the most anticipated crypto commodities of 2016.  The parallel relationship between Vericoin and Verium is the first of its kind and ushers in a new era of digital currency.

Verium will be the first reserve commodity enforced by the protocol PoWT and Vericoin via PoST and will continue to be a near costless decentralized currency.  This would treat PoW differently in that it would be exclusively a tradable scarce resource.  The currency and reserve roles are incentivized via higher minimum send fees of Verium and slower block-times, which enable stable, secure mining and dis-incentivizes spending.  This way there are value added costs that are required to enhance the entire system, yet not necessary for a seamless, near costless, fully decentralized currency.

As Vericoin/Verium Co-developer Douglas Pike states "Verium brings more security, faster transaction times and lower fees in VeriCoin the currency through Verium the reserve commodity".

Verium - Phase Two (Proportional stage)

The ICO for Verium will run for 18 days starting on 8/1 midnight GMT with 10 VRC/VRM Minimum price of your share of total VRC raised is your fraction of 350,000 VRM.

Instructions are be available at:


VeriCoin is the only PoST (Proof of Stake Time) crypto-currency established on May 2014 by Douglas Pike, Patrick Nosker and David Boehm. With one second transactions, sixty second confirmations, a multitude of features such as VeriBit, VeriSend, a BIP32 Lite Android Wallet and a very user friendly Desktop Wallet. VeriCoin is a much quicker, more intuitive, more efficient Peer to Peer Digital Currency than any traditional banking system or even Digital Currency in existence - including Bitcoin.


Verium is Vericoin PoWT (Proof of Work Time) commodity. The variable block time paradigm of Verium does a number of great things.  It increases blockchain performance with security.  It automatically addresses the scalability issues inherent in Bitcoin and has yet to be solved. It softens the difficulty mechanism without loss of security, so that mining power can grow more efficiently and organically.  Rewards in minutes per mining between blocks enables more profitability of mining that is dependent on power and time burning electric.  A decreasing reward as the blockchain speeds, incentivizes a balance of efficiency and power, while maintaining security with a corresponding block time.  ASIC and GPU resistant due to memory hardness.

For more Information:

Related News

Bitcoin and Gold Standard Aren’t the Same

Bitcoin is not a gold standard as it is independent, without the intervention of any central bank or government agency. There has been a lot of comparison between bitcoin and gold in the recent times. Bitcoin has been compared to gold in many aspects. In fact, bitcoin is also called digital gold for a reason due to various similarities it shares with the yellow material. However, referring to bitcoin as a gold standard may not be relevant. The gold standard is a reference to the monetary system that was based on the value of gold. While most countries stopped following the gold standard....

Ivugeo Coin - the Gold Standard of Cryptocurrency Is Here

The "Gold Standard" was so far applicable only to fiat currencies. It means, that the currency in circulation in a country is backed by its equivalent worth in gold. Gold was chosen as a standard because it is universally accepted as a standard, and it still continues to be so. Recent days have seen the world gradually deviating from fiat currency to digital currency. Bitcoin and other altcoins are on the rise. Bitcoin is not backed by gold, and its value is decided by demand, supply and the number of transactions happening over the network. Thus making it more volatile compared to the....

Bank of Canada Paper Asserts Bitcoin Monetary Standard Wouldn't Last Long

How would a bitcoin standard fare for a monetary system? An analysis by the Bank of Canada examined that scenario, conjecturing how a bitcoin standard would perform based on the performance of a gold standard that existed from 1880 to 1913. The gold standard was a monetary system in which nations’ currencies were tied to gold. The 37-page paper [PDF] is written by Warren E. Weber, research consultant at the Bank of Canada, visiting scholar for the Federal Reserve Bank of Atlanta, and adjunct professor at the University of South Carolina. The paper claims that because....

Pro-Crypto Group Attempts To Get Bitcoin Added As A Swiss Reserve Currency

Bitcoin is a lot of different things to different people. It is a store of wealth, a transfer of value, an insurance policy against the unknown, and even a source of hope. Soon, one pro-crypto group hopes to get Bitcoin added alongside gold and the dollar as a Swiss Reserve Currency. Here’s why that would […]

Wyre CEO: Bitcoin To Replace Gold In 20 Years, Becoming New Reserve Currency

Wyre CEO Michael Dunworth has stated that he believes Bitcoin “will replace gold” and the USD as the global reserve currency within 20 years. The chief of the Silicon Valley transfer provider made the comments as part of an interview with InvestorDaily. Among other surprises, Dunworth said that Bitcoin had “superior value” to gold and lacked only market penetration at the current time. Better store of value. “[Bitcoin] will replace gold, and internationally it will replace the USD as the global reserve currency – 20 years or so from now that is,” he told the publication. “Bitcoin has a....