Topic: [ANN] Binary-Chain - VeriCoin and Verium - The First Dual-Blockchain Protocol - page 26. (Read 47786 times)

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

yes solo mining is super easy from the wallet. figuring out the miner that you find on any pools help section is worth figuring out though, it's more consistent and if you get it, it'll be easier to learn other coins. youtube helped me with mining

Go to the "File" menu, click on "Reload Blockchain". Select the checkbox next to "Install new vericoin.conf file?" then click Next (or Download if you haven't bootstrapped yet, this will speed up sync time). After it's done restart the wallet, then you should get connections.

Hi,

No unfortunately not. I think the community manager need to start being more active here.

I uptedated the Vericoin wallet to 1.7 but still "Waiting for a new network connection"


Did you solve this problem? How?

thanks

Is the rapper guy no longer part of the project, that wouldnt be veri veri good

Of all the 1200+ coins created verium is the easiest to start solo mining. Just download verium vault, open it. The you can choose amount of cores and click start do note it will take a long time to find block solo. Pool mining is like other coins, and the pools have help section.

I would love to be corrected if I'm wrong, but is VRM due to release an application that allows for mobile mining to a pool? And when I say due, I mean, is it going to come out in December?


Also....


.... don't hate me but I've never mined a cryptocurrency before and I think I'm going to take the plunge with VRM on my computer tomorrow night. Can someone enlighten me though, is it difficult to set up? Is there a (newbie-friendly) mining guide?

But I'm definitely more curious about the mobile mining application?