Say Hello to @VerusCoin: The Quantum-Resistant, Scalable and Secure L1 🌐 $VRSC
Verus Coin is a privacy-focused cryptocurrency using zk-SNARK Privacy and a Holistic Approach that combines Proof of Work (PoW) and Proof of Stake (PoS) to create a decentralized and self-governed platform that is resistant to 51% attacks.
-> Proof of Power (PoP) consensus.
twitter.com/oink1970/status/1413964691236429832?s=20
The Verus PBaaS (Public Blockchains as a Service) ecosystem is a network of interconnected blockchains that operate at the protocol level, enabling anyone to create their own cryptocurrency as long as it is funded or supported by miners.
PbaaS coming very soon to $VRSC.
Newly created chains on the Verus PBaaS platform are highly secure and can be merge mined with up to 22 other chains simultaneously, making it highly efficient and environmentally friendly. greenverus.com
There is more to Verus than PbaaS. Let's continue with VerusIDs.
VerusIDs are self-sovereign identities that provide quantum-ready friendly crypto addresses on the Verus network. They are fully decentralized and can be created by anyone with complete control over them.
You read it right - quantum ready.
Verus is quantum-resistant, using Falcon512 signatures to secure user funds against the inevitable arrival of quantum computers.
And trust me - quantum computers are coming sooner than everyone expects.
Then there is VerusPay as well. Payment gateaway for using $VRSC.
It uses limited API functionality for manual mode and communicates with the blockchain explorer to verify payments without receiving any private data about the store owner, store, or customer.
But hey Charlie, what about scalability?
The Verus ecosystem is designed to be fractal by nature, with PBaaS-chains that can be created on any other PBaaS-chain, making the system infinitely scalable.
Sounds great in theory.
And I will finish the tech part with MEV frontrunning.
Verus also solves the problem of Miner Extractable Value (MEV) in a smart way, ensuring that miners and stakers can’t front-run conversions to get better deals for themselves or reorganize blockchains for monetary gain.
Let's speak about tokenomics & team.
Verus is committed to creating a truly open and free financial system that is accessible to anyone.
Unlike other projects, Verus had no premine or ICO, and funding goes directly to miners, stakers, and ID referrers.
Launched in 2018.
Verus started in 2018 with the idea from @MikeToutonghi, who is currently the lead developer.
As he mentioned in one of his recent tweets: "We don't have a team. We have an active community." -> Verus is mostly a community-run project as far as I understand.
In terms of tokenomics, as I said, it was fairly launched with no pre-sales or pre-mines.
Speaking of supply though, it looks like this:
Max supply: 83.5M
Circulating supply: 72.8M
Staked supply (as of now): 52% - during my research, this number fluctuated between 45%-55%
The emission schedule looks like this:
So once again as always - why should you care about $VRSC?
For me it is about:
- PBaaS
- VerusID
- Privacy
Nice to have:
- Interoperability
- Data structures
- DeFi liquidity solutions
It is all nicely explained here:
twitter.com/1WillODonnell/status/1585154115159875585?s=20
In terms of potential, $VRSC is not a new kid on the block. It has been here since 2018. However, they keep on building and producing some pretty amazing things such as PBaaS.
$VRSC market cap right now sits at ≈$40M.
If you want to hear about $VRSC from a different perspective, I recommend going through this thread.
twitter.com/cyrilXBT/status/1583129734309105665?s=20
If you want to read more about scalable L1s, check out my mega thread with now 36 threads. I will round it up to 40 in the next 1-2 weeks.
Plus, if you want to discuss DeFi with other like-minded people, join my Telegram group: t.me/+S2M-MBvHymZkNmJk
twitter.com/CharlieXDeFi/status/1623713460902330368?s=20