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Cryptocurrencies

Verus

Verus (VRSC)

Verus is a decentralized, open-source blockchain protocol launched in 2018. It combines proof-of-work and proof-of-stake consensus, known as "proof-of-power," to enhance scalability, security, and decentralization. Verus offers Public Blockchains as a Service (PBaaS), allowing the creation of interoperable blockchains, tokens, and decentralized finance (DeFi) applications. The platform supports VerusID for digital identities and facilitates secure cross-chain transactions with minimal fees. It is designed as a multichain ecosystem to enable scalable and customizable blockchain use cases.

Products

PBaaS-Chains

verus background
Ticker VRSC
Category Smart Contract Platform
Website https://verus.io
Twitter @veruscoin
Reddit https://www.reddit.com/r/VerusCoin/

Verus provides a framework for developing scalable, interoperable, and accessible blockchain solutions through its PBaaS service. This allows for the creation of customizable blockchains with features like multi-currency functionality, DeFi, self-sovereign identities, and privacy based on zk-SNARKs. These blockchains integrate with the Verus network, supporting cross-chain transactions and employing a hybrid proof-of-work and proof-of-stake consensus. Verus supports token creation, liquidity pools, fractional reserve currencies, and crowdfunding, promoting seamless connectivity and decentralized bridging.

Currency launch

Verus enables the creation of tokens without the need for coding. This includes basket currencies backed by multiple reserves and simple token currencies with adjustable supplies. The Verus-Ethereum Bridge allows for non-custodial transfers to and from Ethereum. Decentralized crowdfunding mechanisms assist in token launches by offering features like participation levels, refunds, and pre-launch discounts.

VerusID

VerusID is a self-sovereign identity system on the Verus blockchain, allowing users to access Web3 applications, manage assets, and send private messages securely without programming skills. These IDs serve as personal or business identifiers, facilitating transactions, communication, and asset management. Features include non-custodial revocation/recovery, multisig wallets, and privacy options. Top-level VerusIDs are available for 100 VRSC, with referral discounts, and fees are distributed to miners and stakers.

VerusPay

VerusPay is designed for blockchain-based invoice creation and payment processing. Its third version introduces standardized invoice formats, supports PBaaS blockchain transactions, and allows sharing through QR codes or deeplinks.

VerusDeFi

VerusDeFi offers a low-cost, MEV-resistant decentralized finance solution without intermediaries. It allows conversions into and out of reserve-backed currencies or exchanges between reserves, with minimal fees. Security is enhanced by executing operations at the consensus layer, reducing smart contract risks.

Verus-Ethereum Bridge

The Verus-Ethereum Bridge enables decentralized and secure transfers between the Verus and Ethereum blockchains, supporting conversions between VRSC, ETH, DAI, and MKR. It allows for mapping ERC-20 currencies, exporting assets to Ethereum, and tokenizing VerusIDs as ERC-721 NFTs. Bridge.vETH serves as a stable cross-chain currency, simplifying transactions with low fees and MEV risk resistance.

Tokenomics

VerusCoin ($VRSC)

Verus Coin (VRSC) is a privacy-focused cryptocurrency utilizing zero-knowledge technology and PBaaS. It uses a consensus mechanism called Proof of Power, combining 50% proof of work and 50% proof of stake, to enhance security. VRSC is used for payments, staking, blockchain and token creation, and DeFi reserves. The project operates without an initial coin offering or premined tokens, making blockchain technology more accessible.

Utility

Verus Coin (VRSC) serves various functions within the Verus ecosystem:

  • Payments: Facilitates fast, scalable, and final transactions.
  • Staking: Allows holders to earn rewards without a minimum amount.
  • VerusID Creation: Used for creating VerusIDs.
  • Blockchain and Token Creation: Necessary for creating interoperable blockchains and tokens.
  • DeFi Reserves: Acts as a mandatory reserve in currency baskets on the Verus chain.

Team

Verus comprises developers, advisors, and community members who provide technical expertise and support:

  • Michael J. Toutonghi: Lead Developer, founder, and former Microsoft Technical Fellow.
  • Michael F. Toutonghi: Lead GUI Wallet Developer, enhancing usability on various platforms.
  • Lex (Alex) English: Developer/Program Manager with software development experience.
  • Asher Dawes: Developer specializing in build automation.
  • David Dawes: Developer with experience in financial technology.
  • jl777: Advisor with blockchain development expertise.
  • Nicholas Lyons: Advisor with a background in equity markets and technology investments.
  • Oink: Community Support Lead.
  • Max Theyse: Lead Design/Community Branding.
  • Chris Monkins: Software Engineer with mining software expertise.
  • Rozo: Marketing Lead and conference appearances.