Topic: [ANN] Binary-Chain - VeriCoin and Verium - The First Dual-Blockchain Protocol - page 25. (Read 47841 times)

Well, this coin does have some promising features, so I decided to try the Verium part - check the wallet and see if I can mine some coins.

The mining part was quite easy (generate address in wallet, set up pool account, set up and start miner), but then I found out that the wallet does not synchronize to the network. At first start it downloaded a bootstrap (presumably with part of the blockchain), but then it fails to synchronize the rest of the blocks (last block is 3 days old)

First I see "Synchronizing with network (99.3%)", then later it is replaced by "Waiting for a network connection ...." ... which stays there for hours ....

I cloned git repo https://github.com/VeriumReserve/verium and then compiled and run the walled ... I tried this both with master and 1.1. tag, but the results are the same.

Maybe I need to punch some holes in the firewall? Maybe I need some extra setup? (any ideas?)

I guess I'll play with netstat and firewall settings and I'll look into the source and maybe I'll find what is wrong, but the bad news is that the wallet does not work out of the box - at least not in all cases.

Please have a look here :

https://portal.vericoin.info/roadmap-the-future-of-vericoin/

http://www.vericoin.info/downloads/roadmap_V1.pdf

afaik POST 2.0 needs to be implemented first, and its currently undergoing testing by the devs

Binary Chain should be coming in 2018

What are your plans, upcoming updates ? What are the upcoming new exchanges ? Cryptopia or coinexchange and yobit , … ?

when is dual chain going live? i was under the impression it is not operational yet...

You can already mine with your mobile, here is a guide : https://www.reddit.com/r/vericoin/comments/7i7kg4/put_those_old_android_devices_to_use_mining_verium/

Mining from your pc is very easy, there is a "one-click mining" feature built in the wallet, you can select the number of cores to mine from.
Mobile mining will be made equally easy soon enough, don't know about the dates but i do know devs are hard at work, just a very filled roadmap

With the binary chain, both chains are more secure than stand-alone POW or POS chains, and also more scalable and decentralized. POST in itself is already an improvement over POS.

Nevermind, found the new one on Twitter; you need to update the website 

Hi guys! do you know why the slack is not working? I think this is a great project but I'm having a little trouble gathering information about it 

The project is really innovative and that's a nice idea. But you are talking about "more security". What does that exactly mean? More security compared to what coin? How is it exactly implemented?

You make a good case. I agree with all you said, Vericoin will shoot up very soon, just wish the development would speed up!

Like most crypto projects, I think the ultimate utilization of verium/vericoin's unique features will probably play out in ways not yet envisioned.  But there are some things that I can envision already, and maybe I can explain it better if I apply those ideas to an alternate reality where bitcoin core and bitcoin cash joined forces instead of going to war.  (Warning: possible plasphemy ahead for btc maximalists  )

As we know, the BTC core community has moved away from the idea of providing on-chain scaling, emphasizing "store of value" aspects and the idea of digital gold.  The response is BCH, which has a community trying to operate it as p2p digital cash, with super low fees but still on-chain.  That will be difficult (maybe impossible) if they stay proof-of-work.

So imagine if BCH instead of trying to steal BTC hash power moved to proof-of-stake for the lowest fees possible.  This would have less security than BTC blockchain but would have much lower transaction fees than BTC.  In this scenario, BTC and BCH decide to work together on a single wallet (like the Gemini wallet coming for verium/vericoin) and institute auxiliary proof-of-work mining connecting both chains.  This binary chain wallet would allow someone to send BCH cheaply for every day purchases, while also having BTC as an extremely secure place to deposit funds for the medium to long term, and for large transactions.  Also, BTC could continue to work on 2nd layer solutions while joined in this binary chain. It would seem to be the best of both worlds. The proof-of-stake side gets additional security from the binary chain while retaining low fee txs, and the proof-of-work side gets an easy way to withdraw funds into a cash like system for every day use: BTC digital gold + BCH digital cash.

You could even have competition between 2nd layer low fee solutions on the BTC chain versus BCH transactions.  This would fuel innovation while both communities are synergistically working together in the same system.

Now with verium & vericoin we will have something that can create the above vision from the ground up, with a specific algorithm in verium to retain decentralization through CPU mining. I think this project has so many unique things about it, that the road map can only be used as a rough guide for how it will impact cryptocurrencies.

Long story short, I believe this project is ripe for a black swan event.

But what exactly are the technological implications of this? Is this a platform with a currency, is it designed to operate as a currency only such as Litecoin? I checked this project about 4 months ago for the first time and I find it interesting, something I believe Soferox launched an ICO for. But I'm not tech savy and all this announcement isn't making me any wiser on what exactly is being developed? Will this be applicable to other chains? I'm looking hard to find something here that I'm missing. Can someone guide me?

Yeah this is the hidden gem im waiting for getting known to the masses

hey all, I've got a mini test rig running an xu4 (linux ubuntu 16.04) with the wallet v1.1.0.0 and miner running on same machine. will be deploying more miner into the rig once it seems to be functioning proper

couple questions if one may be so kind to answer:
1) when running ./verium getmininginfo hash rate shows 0 as does est. block. im assuming this should have some sort of tie to the hash rate running on the miner.
which leads to a sub question of 1: if assumption is correct would i see the total hash rate of all miners in rig?

2) in same screen - what is currentblocktx and pooledtx referring to?

3) if a block is found, is there an indication or is it just shown in balance and or new mint under ./veriumd getinfo?

thanks to anyone who can take the time to explain, it would be greatly appreciated.

-welcome to the machine...

Vericoin and Verium are genious invention, but need to be marketed more widely. People can stake VRC on their phone (when tech is ready) and mine them at home with PC or MAC. The software works smoothly, looks good and is easy to use (rare in crypto). It's a pleasure hodling these two coins.

This is cpu-mined coin, am I right?
What kind of processor I need to get a block at least few times a week?
I am going to build a game-pc but I thought it could "work" when I'm AFK ;>

file->reload blockchain and check download new vericoin.conf file

Presentation and designs are very good. I went to my favor as an idea.  Vericoin experience.

Hey guys, I have a problem.

A member of my family formatted the computer I was staking Vericoin on. I only have a passphrase and the public key.

Is there a way to restore by looking for a wallet.dat and starting from there.

Thanks in advance