Announcing Verus v1.2.5-3 - MANDATORY UPDATE (2 WEEK NOTICE) WITH PROTOCOL UPGRADE SCHEDULED FOR NOVEMBER 24TH, 6PM UTC ON ALL MAINNET PBaaS CHAINS AND NOVEMBER 12TH, 1:00 AM UTC FOR TESTNET UPDATE YOUR NODES TO v1.2.5-3 OR GREATER FOR VERUS AND ALL PBaaS CHAINS BEFORE NOVEMBER 24TH, 6PM UTC TO PREVENT THE POSSIBILITY OF YOUR NODE FALLING OUT OF SYNC WITH THE MAIN CHAIN v1.2.5-3
CLI RELEASE: https://github.com/VerusCoin/VerusCoin/releases/tag/v1.2.5-3
GUI RELEASE: https://github.com/VerusCoin/Verus-Desktop/releases/tag/v1.2.5-3
GUI TESTNET RELEASE: https://github.com/VerusCoin/Verus-Desktop/releases/tag/v1.2.5-3-testnet
Addresses an issue discovered by community member @F0rked that prevents some currencies that are in a blockchain definition from being sent off of PBaaS chains, although they can be sent to them from VRSC. For example, although vETH is part of the vARRR chain definition and can be sent to vARRR, if you do send vETH to vARRR right now, you will need to wait until this update activates to send it back to VRSC.
Needless to say, we do not recommend that you do send vETH to vARRR, and we do not see this happening to any significant degree, but to avoid any unreasonable delay in people being able to move their own funds across chains, we have opted to schedule this update for 2 weeks from now, which is a time when core people will be available, rather than wait until January of next year. v1.2.5-3 Verus Desktop in native mode also includes new support for the updated application login protocol with VerusID on desktop using deep links. We expect this will be useful for developers as well as those who prefer to login to Verus apps with their native desktop rather than mobile phones. Please be sure to update as soon as possible.
Topic: [ANN] Verus (VRSC) - zk-SNARK privacy, CPU-mining, 50/50 POW/POS, fair launch (Read 49695 times)
November 11, 2024, 05:28:27 AM
November 04, 2024, 11:03:41 PM
Announcing Verus v1.2.5-2 - CRITICAL UPDATE FOR MINERS AND STAKERS THAT ALSO INCLUDES THE PENDING PROTOCOL CHANGE, SCHEDULED FOR NOVEMBER 7TH, 6PM UTC ON MAINNET UPDATE YOUR NODES TO v1.2.5-1 OR GREATER FOR VERUS AND ALL PBaaS CHAINS BEFORE NOVEMBER 7TH, 6PM UTC TO PREVENT THE POSSIBILITY OF YOUR NODE FALLING OUT OF SYNC WITH THE MAIN CHAIN v1.2.5-2
CLI RELEASE: https://github.com/VerusCoin/VerusCoin/releases/tag/v1.2.5-2
GUI RELEASE: https://github.com/VerusCoin/Verus-Desktop/releases/tag/v1.2.5-2
GUI TESTNET RELEASE: https://github.com/VerusCoin/Verus-Desktop/releases/tag/v1.2.5-2-testnet
includes a number of minor fixes of data functionality, some improvements with the TLS connection support that has been ported from Pirate, and hardening against a minor vulnerability discovered during a code review, which has never occurred on any part of the network, would require very specific, likely non-existent conditions, and which will be protected against on the network when the majority of miners and stakers upgrade to v1.2.5-2. Please update as soon as possible, especially if you are mining or staking on Verus or any PBaaS chains.
CLI RELEASE: https://github.com/VerusCoin/VerusCoin/releases/tag/v1.2.5-2
GUI RELEASE: https://github.com/VerusCoin/Verus-Desktop/releases/tag/v1.2.5-2
GUI TESTNET RELEASE: https://github.com/VerusCoin/Verus-Desktop/releases/tag/v1.2.5-2-testnet
includes a number of minor fixes of data functionality, some improvements with the TLS connection support that has been ported from Pirate, and hardening against a minor vulnerability discovered during a code review, which has never occurred on any part of the network, would require very specific, likely non-existent conditions, and which will be protected against on the network when the majority of miners and stakers upgrade to v1.2.5-2. Please update as soon as possible, especially if you are mining or staking on Verus or any PBaaS chains.
October 31, 2024, 10:09:00 PM
Announcing Verus v1.2.5-1 - MANDATORY UPDATE INCLUDING PROTOCOL CHANGE, SCHEDULED FOR NOVEMBER 7TH, 6PM UTC ON MAINNET AND IMMEDIATELY ON TESTNET UPDATE YOUR NODES TO v1.2.5-1 OR GREATER FOR VERUS AND ALL PBaaS CHAINS BEFORE NOVEMBER 7TH, 6PM UTC TO PREVENT THE POSSIBILITY OF YOUR NODE FALLING OUT OF SYNC WITH THE MAIN CHAIN
CLI RELEASE: https://github.com/VerusCoin/VerusCoin/releases/tag/v1.2.5-1
GUI RELEASE: https://github.com/VerusCoin/Verus-Desktop/releases/tag/v1.2.5-1
GUI TESTNET RELEASE: https://github.com/VerusCoin/Verus-Desktop/releases/tag/v1.2.5-1-testnet
v1.2.5-1 includes a fix to address minor basket disruptions caused by an attacker, who has been attempting to game conversions by creating small conversions at rounding boundaries, resulting in them losing fees and having no success. Until v1.2.5-1 activates, we can use auto-arbitrage, as we did this time, to clear any disruptions, should there be any. After November 7th at 6PM UTC when the protocol changes activate, including the basket disruption fix and the identity referral change that was previously scheduled for January 15th, all protocol changes will be active in the protocol. Please update as soon as possible.
CLI RELEASE: https://github.com/VerusCoin/VerusCoin/releases/tag/v1.2.5-1
GUI RELEASE: https://github.com/VerusCoin/Verus-Desktop/releases/tag/v1.2.5-1
GUI TESTNET RELEASE: https://github.com/VerusCoin/Verus-Desktop/releases/tag/v1.2.5-1-testnet
v1.2.5-1 includes a fix to address minor basket disruptions caused by an attacker, who has been attempting to game conversions by creating small conversions at rounding boundaries, resulting in them losing fees and having no success. Until v1.2.5-1 activates, we can use auto-arbitrage, as we did this time, to clear any disruptions, should there be any. After November 7th at 6PM UTC when the protocol changes activate, including the basket disruption fix and the identity referral change that was previously scheduled for January 15th, all protocol changes will be active in the protocol. Please update as soon as possible.
October 24, 2024, 08:22:26 AM
Announcing Verus v1.2.5 - CRITICAL UPDATE FOR BRIDGEKEEPER OPERATORS AND FIRST UPDATE INCLUDING PROTOCOL CHANGE, SCHEDULED FOR JANUARY 15TH, 8PM UTC, (OCTOBER 29TH, 7PM UTC FOR TESTNET) ADDRESSING ONE KNOWN PROTOCOL ERRATA UPDATE YOUR NODES TO v1.2.5 OR GREATER FOR VERUS AND ALL PBaaS CHAINS BEFORE JANUARY 15TH, 8PM UTC TO PREVENT THE POSSIBILITY OF YOUR NODE FALLING OUT OF SYNC WITH THE MAIN CHAIN OR DELAYS ON CROSS-CHAIN NOTARIZATION FOR PBaaS CHAINS AFTER A REORG IF YOU RUN BRIDGEKEEPER, WE RECOMMEND THAT YOU UPGRADE AS SOON AS POSSIBLE, AS v1.2.5 INCLUDES RESILIENCE TO A CHANGE EXPECTED BY ETHEREUM RPC PROVIDERS. UPGRADING NOW WILL HELP ENSURE ROBUST OPERATION OF THE ETHEREUM BRIDGE IF / WHEN SUCH A CHANGE HAPPENS
CLI RELEASE: https://github.com/VerusCoin/VerusCoin/releases/tag/v1.2.5
GUI RELEASE: https://github.com/VerusCoin/Verus-Desktop/releases/tag/v1.2.5
GUI TESTNET RELEASE: https://github.com/VerusCoin/Verus-Desktop/releases/tag/v1.2.5-testnet
v1.2.5 includes some minor API improvements, easier reporting of earnings from mining, staking, and conversions with listtransactions, and a protocol errata fix to address an inability to use secondary referral identities with currency ID registrars that specify exactly 1 ID referral level.
This protocol change will take place as scheduled on January 15th (October 29th on testnet) for all PBaaS chains and will be present in all releases between now and then.
CLI RELEASE: https://github.com/VerusCoin/VerusCoin/releases/tag/v1.2.5
GUI RELEASE: https://github.com/VerusCoin/Verus-Desktop/releases/tag/v1.2.5
GUI TESTNET RELEASE: https://github.com/VerusCoin/Verus-Desktop/releases/tag/v1.2.5-testnet
v1.2.5 includes some minor API improvements, easier reporting of earnings from mining, staking, and conversions with listtransactions, and a protocol errata fix to address an inability to use secondary referral identities with currency ID registrars that specify exactly 1 ID referral level.
This protocol change will take place as scheduled on January 15th (October 29th on testnet) for all PBaaS chains and will be present in all releases between now and then.
September 27, 2024, 01:46:29 AM
Announcing Verus v1.2.4-2 - CRITICAL UPDATE TO PREVENT POTENTIAL PBaaS, CROSS-CHAIN OR FORK ISSUES UPDATE TO v1.2.4-2 OR GREATER IS RECOMMENDED AS SOON AS POSSIBLE TO PREVENT THE POSSIBILITY OF YOUR NODE FALLING OUT OF SYNC WITH THE MAIN CHAIN OR DELAYS ON CROSS-CHAIN NOTARIZATION FOR PBaaS CHAINS AFTER A REORG
CLI RELEASE: https://github.com/VerusCoin/VerusCoin/releases/tag/v1.2.4-2
GUI RELEASE: https://github.com/VerusCoin/Verus-Desktop/releases/tag/v1.2.4-2
GUI TESTNET RELEASE: https://github.com/VerusCoin/Verus-Desktop/releases/tag/v1.2.4-2-testnet
v1.2.4-2 Addresses an issue that occurred on the vARRR chain with overly aggressive memory caching of blockchain information that has the potential to cause a PBaaS chain node to fall out of sync in the case of a reorg. It also fixes another issue that can sometimes delay the resolution of cross-chain notarizations if a fork on a PBaaS chain forces a cross-chain challenge competition. The vARRR fork has been resolved.
The oracle notification to disable cross-chain functionality has been removed, resuming cross-chain transactions. Thanks to those that helped provide information and that took timely action to update. If you wound up on the vARRR fork, a resync is the most straightforward and reliable way to fix your node. In addition, v1.2.4-2 adds checking and will throw errors if the cli command sendrawtransaction is used and the transaction being sent is recognized as having an absurdly high fee payment.
As there are transactions you could make where this check might still allow an excessively high fee to be sent, this is intended to help prevent simple errors on typical send types of transactions, such as forgetting a change output. Even after this update, please always double check that your transactions have appropriate change outputs before using sendrawtransaction. v1.2.4-2 HAS NO PROTOCOL CHANGES
CLI RELEASE: https://github.com/VerusCoin/VerusCoin/releases/tag/v1.2.4-2
GUI RELEASE: https://github.com/VerusCoin/Verus-Desktop/releases/tag/v1.2.4-2
GUI TESTNET RELEASE: https://github.com/VerusCoin/Verus-Desktop/releases/tag/v1.2.4-2-testnet
v1.2.4-2 Addresses an issue that occurred on the vARRR chain with overly aggressive memory caching of blockchain information that has the potential to cause a PBaaS chain node to fall out of sync in the case of a reorg. It also fixes another issue that can sometimes delay the resolution of cross-chain notarizations if a fork on a PBaaS chain forces a cross-chain challenge competition. The vARRR fork has been resolved.
The oracle notification to disable cross-chain functionality has been removed, resuming cross-chain transactions. Thanks to those that helped provide information and that took timely action to update. If you wound up on the vARRR fork, a resync is the most straightforward and reliable way to fix your node. In addition, v1.2.4-2 adds checking and will throw errors if the cli command sendrawtransaction is used and the transaction being sent is recognized as having an absurdly high fee payment.
As there are transactions you could make where this check might still allow an excessively high fee to be sent, this is intended to help prevent simple errors on typical send types of transactions, such as forgetting a change output. Even after this update, please always double check that your transactions have appropriate change outputs before using sendrawtransaction. v1.2.4-2 HAS NO PROTOCOL CHANGES
September 26, 2024, 07:48:47 AM
On September 19, 2024, NATI🦉 was launched, a liquidity pool currency with reserves including NATI, tBTC, ETH, and VRSC. The preconversion period, lasting until September 22, 23:55 UTC, allowed users to deposit but not withdraw these reserve currencies.
Initial Valuation & Price Dynamics
At launch, NATI🦉’s reserves were immediately filled with 150 tBTC and 3,999 vETH (TBTC & Ethereum bridged over from Ethereum), giving the basket currency a total valuation of $36 million. The preconversion cap for VRSC was set at 3.3 million coins, effectively pegging its minimum value to around $2.80 (~4523 sats) per coin.
As the preconversion period neared its end, VRSC’s participation in the reserves remained low, driving its implied value within NATI🦉 to approximately $9 per coin. This discrepancy led to strategic movements of VRSC from other basket currencies like Bridge.vETH and Pure, further amplifying the VRSC value in those pools.
Post-Launch Market Activity
The moment the preconversion period ended, the protocol entered a phase of intense activity. Arbitrage opportunities emerged across various basket currencies, resulting in a staggering MEV-free 24-hour on-chain volume exceeding $60 million. This frenzy of trading activity pushed VRSC to a new all-time high of $4.17.
The high on-chain volume also resulted in miners and stakers being handsomely rewarded by block rewards of up to 27 VRSC (regular block rewards being 6 VRSC). Half of the conversion fees go to the block producers, the other half to the reserves of liquidity pool currencies.
The NATI🦉 launch and subsequent market dynamics have highlighted the interconnectedness of decentralized finance ecosystems and the potential for rapid value realignment in cryptocurrency markets. The TVL on the Verus Protocol is now more than $75 million.
For correct price and volume information on VRSC go to Coinpaprika.com. They are the only coin aggregator so far that show data from on-chain DeFi activity. It is worth noting that all on-chain trading activity on the Verus Protocol is MEV-resistant. Read more here.
Real Fair DeFi
Whatever market participant you are, you are best served with the Verus Protocol. Verus DeFi is fully functional on mainnet for everyone to use.
No MEV (no front-running, back-running or sandwich attacks)
Truly decentralized (it’s a credibly neutral protocol — not a business, company or otherwise rent-seeking)
The same fair price for all market participants within 1–10 block(s)
Secured at the protocol level
Low conversion fees of max. 0.05%
Permissionless launching of liquidity pools
Bridged to Ethereum (all ERC-20s can be bridged to the Verus Protocol, in a non-custodial and trustless manner, and vice versa)
Decentralized crowdfund mechanisms for your currency (e.g. token, liquidity pool, native PBaaS coin), such as pre-launch discounts, pre-launch carveouts and pre-allocations
Initial Valuation & Price Dynamics
At launch, NATI🦉’s reserves were immediately filled with 150 tBTC and 3,999 vETH (TBTC & Ethereum bridged over from Ethereum), giving the basket currency a total valuation of $36 million. The preconversion cap for VRSC was set at 3.3 million coins, effectively pegging its minimum value to around $2.80 (~4523 sats) per coin.
As the preconversion period neared its end, VRSC’s participation in the reserves remained low, driving its implied value within NATI🦉 to approximately $9 per coin. This discrepancy led to strategic movements of VRSC from other basket currencies like Bridge.vETH and Pure, further amplifying the VRSC value in those pools.
Post-Launch Market Activity
The moment the preconversion period ended, the protocol entered a phase of intense activity. Arbitrage opportunities emerged across various basket currencies, resulting in a staggering MEV-free 24-hour on-chain volume exceeding $60 million. This frenzy of trading activity pushed VRSC to a new all-time high of $4.17.
The high on-chain volume also resulted in miners and stakers being handsomely rewarded by block rewards of up to 27 VRSC (regular block rewards being 6 VRSC). Half of the conversion fees go to the block producers, the other half to the reserves of liquidity pool currencies.
The NATI🦉 launch and subsequent market dynamics have highlighted the interconnectedness of decentralized finance ecosystems and the potential for rapid value realignment in cryptocurrency markets. The TVL on the Verus Protocol is now more than $75 million.
For correct price and volume information on VRSC go to Coinpaprika.com. They are the only coin aggregator so far that show data from on-chain DeFi activity. It is worth noting that all on-chain trading activity on the Verus Protocol is MEV-resistant. Read more here.
Real Fair DeFi
Whatever market participant you are, you are best served with the Verus Protocol. Verus DeFi is fully functional on mainnet for everyone to use.
No MEV (no front-running, back-running or sandwich attacks)
Truly decentralized (it’s a credibly neutral protocol — not a business, company or otherwise rent-seeking)
The same fair price for all market participants within 1–10 block(s)
Secured at the protocol level
Low conversion fees of max. 0.05%
Permissionless launching of liquidity pools
Bridged to Ethereum (all ERC-20s can be bridged to the Verus Protocol, in a non-custodial and trustless manner, and vice versa)
Decentralized crowdfund mechanisms for your currency (e.g. token, liquidity pool, native PBaaS coin), such as pre-launch discounts, pre-launch carveouts and pre-allocations
September 25, 2024, 03:31:35 AM
wow, nice pump, any reason?
September 20, 2024, 05:12:10 AM
Announcing Verus v1.2.4-1 - OPTIONAL UPDATE TO ADDRESS GUI DISPLAY ISSUE UPDATE TO v1.2.4 OR GREATER IS RECOMMENDED AS SOON AS POSSIBLE DUE TO NETWORK DOS MITIGATION AND IMPROVED EARNING POTENTIAL VIA PERFORMANCE, THOUGH KEY PROTOCOL CHANGES
CLI RELEASE: https://github.com/VerusCoin/VerusCoin/releases/tag/v1.2.4-1
GUI RELEASE: https://github.com/VerusCoin/Verus-Desktop/releases/tag/v1.2.4-1
GUI TESTNET RELEASE: https://github.com/VerusCoin/Verus-Desktop/releases/tag/v1.2.4-1-testnet
ACTIVATE AT THE FOLLOWING BLOCKS ON THE FOLLOWING CHAINS: Approximate time: Fri Sep 20 05:00:00 PM UTC 2024 Fri Sep 20 10:00:00 AM PDT 2024 Time: 1726851600 VRSC Mainnet Height: 3227685 vARRR Height: 238210 vDEX Height: 68730
v1.2.4-1 reintroduces previously deprecated Sprout private address functionality associated with reading information. This deprecation introduced a display issue with the GUI that would result in continued function and balance reporting, but with an incorrect transaction display, showing zero transactions. As long as you do not change the default notification oracle for your Verus nodes, nodes older than v1.2.4 running on the Verus blockchain will pause and wait for upgrade just before the activation blocks above.
If you do not have time to update before activation, you should be able to simply close, upgrade, and continue when you are able.
CLI RELEASE: https://github.com/VerusCoin/VerusCoin/releases/tag/v1.2.4-1
GUI RELEASE: https://github.com/VerusCoin/Verus-Desktop/releases/tag/v1.2.4-1
GUI TESTNET RELEASE: https://github.com/VerusCoin/Verus-Desktop/releases/tag/v1.2.4-1-testnet
ACTIVATE AT THE FOLLOWING BLOCKS ON THE FOLLOWING CHAINS: Approximate time: Fri Sep 20 05:00:00 PM UTC 2024 Fri Sep 20 10:00:00 AM PDT 2024 Time: 1726851600 VRSC Mainnet Height: 3227685 vARRR Height: 238210 vDEX Height: 68730
v1.2.4-1 reintroduces previously deprecated Sprout private address functionality associated with reading information. This deprecation introduced a display issue with the GUI that would result in continued function and balance reporting, but with an incorrect transaction display, showing zero transactions. As long as you do not change the default notification oracle for your Verus nodes, nodes older than v1.2.4 running on the Verus blockchain will pause and wait for upgrade just before the activation blocks above.
If you do not have time to update before activation, you should be able to simply close, upgrade, and continue when you are able.
September 09, 2024, 07:15:10 AM
Announcing Verus v1.2.4 - MANDATORY, CRITICAL UPDATE FOR ALL MAINNET AND TESTNET BLOCKCHAINS v1.2.4 INCLUDES NETWORK DOS VULNERABILITY MITIGATIONS PORTED FROM RECENT ZCASH UPDATES, MINOR PROTOCOL FIXES, SIGNIFICANT PERFORMANCE AND CACHING IMPROVEMENTS FOR FASTER SYNC AND BETTER RPC RESPONSIVENESS, AN ETHEREUM CROSS-CHAIN FEE REDUCTION, AND INCREASED ERROR REPORTING FOR CLI AND RPC COMMANDS. UPDATE IS RECOMMENDED AS SOON AS POSSIBLE DUE TO NETWORK DOS MITIGATION AND IMPROVED EARNING POTENTIAL VIA PERFORMANCE, THOUGH KEY PROTOCOL CHANGES ACTIVATE AT THE FOLLOWING BLOCKS ON THE FOLLOWING CHAINS: Approximate time: Fri Sep 20 05:00:00 PM UTC 2024 Fri Sep 20 10:00:00 AM PDT 2024 Time: 1726851600 VRSC Mainnet Height: 3227685 vARRR Height: 238210 vDEX Height: 68730
CLI RELEASE: https://github.com/VerusCoin/VerusCoin/releases/tag/v1.2.4
GUI RELEASE: https://github.com/VerusCoin/Verus-Desktop/releases/tag/v1.2.4
GUI TESTNET RELEASE: https://github.com/VerusCoin/Verus-Desktop/releases/tag/v1.2.4-testnet
For CLI users who also run Bridgekeeper, it is important to upgrade your Verus Bridgekeeper software before the Verus mainnet block above. This version includes the following fixes and improvements:
* Mitigation of two recently disclosed Bitcoin network vulnerabilities that have the potential for DOS attacks, and which were present in Verus and recently fixed in Zcash. The fixes in v1.2.4 have been ported from a recent Zcash update. I want to personally thank @Asher for porting those and other dev contributions to this daemon release, along with all the normal contributions he continues to make.
* Improved synchronization performance and RPC responsiveness. In some parts of the blockchain and in steady state operation, RPC response times and synchronization speed are significantly improved, which can potentially result in higher earnings whether staking or mining.
* Fixes two separate issues found during events involving PBaaS chain reorgs that caused cross-chain or block progression delays, and in one case, some stuck nodes on the vDEX chain. One of these issues will be fixed immediately, and the remainder with minor protocol changes that will take effect at the blocks above.
* Within one day of the activation blocks above, sends from the Verus chain to the Ethereum chain will be lower cost when GAS remains as low as it recently has on Ethereum.
* Includes RPC fixes for data storage as well as improved error reporting, more flexible options for alternate data directories, and miscellaneous additional improvements.
* New verusd startup option -notarydatadir= to specify the data directory of connected chains.
As long as you do not change the default notification oracle for your Verus nodes, nodes older than v1.2.4 running on the Verus blockchain will pause and wait for upgrade just before the activation block. If you do not have time to update before activation, you should be able to simply close, upgrade, and continue when you are able.
CLI RELEASE: https://github.com/VerusCoin/VerusCoin/releases/tag/v1.2.4
GUI RELEASE: https://github.com/VerusCoin/Verus-Desktop/releases/tag/v1.2.4
GUI TESTNET RELEASE: https://github.com/VerusCoin/Verus-Desktop/releases/tag/v1.2.4-testnet
For CLI users who also run Bridgekeeper, it is important to upgrade your Verus Bridgekeeper software before the Verus mainnet block above. This version includes the following fixes and improvements:
* Mitigation of two recently disclosed Bitcoin network vulnerabilities that have the potential for DOS attacks, and which were present in Verus and recently fixed in Zcash. The fixes in v1.2.4 have been ported from a recent Zcash update. I want to personally thank @Asher for porting those and other dev contributions to this daemon release, along with all the normal contributions he continues to make.
* Improved synchronization performance and RPC responsiveness. In some parts of the blockchain and in steady state operation, RPC response times and synchronization speed are significantly improved, which can potentially result in higher earnings whether staking or mining.
* Fixes two separate issues found during events involving PBaaS chain reorgs that caused cross-chain or block progression delays, and in one case, some stuck nodes on the vDEX chain. One of these issues will be fixed immediately, and the remainder with minor protocol changes that will take effect at the blocks above.
* Within one day of the activation blocks above, sends from the Verus chain to the Ethereum chain will be lower cost when GAS remains as low as it recently has on Ethereum.
* Includes RPC fixes for data storage as well as improved error reporting, more flexible options for alternate data directories, and miscellaneous additional improvements.
* New verusd startup option -notarydatadir= to specify the data directory of connected chains.
As long as you do not change the default notification oracle for your Verus nodes, nodes older than v1.2.4 running on the Verus blockchain will pause and wait for upgrade just before the activation block. If you do not have time to update before activation, you should be able to simply close, upgrade, and continue when you are able.
August 13, 2024, 05:42:29 PM
Announcing Verus v1.2.3-7 - URGENT AND MANDATORY UPDATE FOR ALL MAINNET AND TESTNET BLOCKCHAINS YESTERDAY AN ERROR WAS RECOGNIZED ON A NATI BASKET CONVERSION. IN RESPONSE, WE DISCOVERED AND FIXED AN ISSUE IN A LIBRARY WE HAVE USED FOR SOME TIME. THIS IS A MANDATORY UPDATE THAT WILL ACTIVATE ON VERUS MAINNET AT: VERUS MAINNET BLOCK 3177557 - EXPECTED AT ~20:00 UTC ON THURSDAY, AUGUST 15TH
CLI RELEASE: https://github.com/VerusCoin/VerusCoin/releases/tag/v1.2.3-7
GUI RELEASE: https://github.com/VerusCoin/Verus-Desktop/releases/tag/v1.2.3-7
GUI TESTNET RELEASE: https://github.com/VerusCoin/Verus-Desktop/releases/tag/v1.2.3-7-testnet
This update includes an urgent network fix to address an issue that caused two real conversions and one test conversion on the NATI basket to complete improperly. Once that occurred, the Verus oracle notification technology was used to disable DeFi on the Verus blockchain, and at present DeFi and cross-chain transactions are disabled on the Verus blockchain until the activation height above.
Please upgrade as soon as possible to ensure a smooth activation. As long as you do not change the default notification oracle for your Verus nodes, nodes older than v1.2.3-7 running on the Verus blockchain will pause and wait for upgrade just before the activation block.
If you do not have time to update before activation, you should be able to simply close, upgrade, and continue when you are able.
CLI RELEASE: https://github.com/VerusCoin/VerusCoin/releases/tag/v1.2.3-7
GUI RELEASE: https://github.com/VerusCoin/Verus-Desktop/releases/tag/v1.2.3-7
GUI TESTNET RELEASE: https://github.com/VerusCoin/Verus-Desktop/releases/tag/v1.2.3-7-testnet
This update includes an urgent network fix to address an issue that caused two real conversions and one test conversion on the NATI basket to complete improperly. Once that occurred, the Verus oracle notification technology was used to disable DeFi on the Verus blockchain, and at present DeFi and cross-chain transactions are disabled on the Verus blockchain until the activation height above.
Please upgrade as soon as possible to ensure a smooth activation. As long as you do not change the default notification oracle for your Verus nodes, nodes older than v1.2.3-7 running on the Verus blockchain will pause and wait for upgrade just before the activation block.
If you do not have time to update before activation, you should be able to simply close, upgrade, and continue when you are able.
August 13, 2024, 09:27:39 AM
Announcement from discord August 13, 2024
From miketout: I have just been notified and confirmed that we're seeing an issue on the NATI basket. Please do not use the basket until further notice. We will pause DeFi with an oracle notification within the next few minutes in order to investigate. Unfortunately, this will pause ALL DeFi and cross-chain functions on the Verus chain until we determine the exact issue and how to address it.
UPDATE: there is an issue in one of the libraries we have been using since Verus launched that resulted in one failure on a NATI basket conversion and another conversion that was tried for testing. We have addressed the issue, and that fix is in the pipeline for release tomorrow. Because we do not want to reenable Verus DeFi until the fix activates to prevent any additional failed conversions on NATI, we will consider the upgrade coming tomorrow as urgent and mandatory. The fix will activate as soon as we reenable DeFi on Verus. We can agree on the date & time to reenable DeFi in tomorrow's meeting. I believe in this case, we should shoot for a very short upgrade window and activate within 2 or 3 days. We will need maximum participation, and we can use the oracle notification system to make even a short upgrade Window a fairly smooth process.
From miketout: I have just been notified and confirmed that we're seeing an issue on the NATI basket. Please do not use the basket until further notice. We will pause DeFi with an oracle notification within the next few minutes in order to investigate. Unfortunately, this will pause ALL DeFi and cross-chain functions on the Verus chain until we determine the exact issue and how to address it.
UPDATE: there is an issue in one of the libraries we have been using since Verus launched that resulted in one failure on a NATI basket conversion and another conversion that was tried for testing. We have addressed the issue, and that fix is in the pipeline for release tomorrow. Because we do not want to reenable Verus DeFi until the fix activates to prevent any additional failed conversions on NATI, we will consider the upgrade coming tomorrow as urgent and mandatory. The fix will activate as soon as we reenable DeFi on Verus. We can agree on the date & time to reenable DeFi in tomorrow's meeting. I believe in this case, we should shoot for a very short upgrade window and activate within 2 or 3 days. We will need maximum participation, and we can use the oracle notification system to make even a short upgrade Window a fairly smooth process.
August 03, 2024, 09:15:09 PM
Announcing Verus v1.2.3-6 - MANDATORY UPDATE FOR MAINNET, HIGHLY RECOMMENDED FOR TESTNET
TO ADDRESS AN ISSUE THAT IS PREVENTING THE NEW vDEX BLOCKCHAIN FROM NOTARIZING INTO VRSC MAINNET, THIS IS A MANDATORY UPDATE THAT WILL ACTIVATE ON VERUS MAINNET AT:
VERUS MAINNET BLOCK 3173198 - EXPECTED AT ~17:00 UTC ON MONDAY, AUGUST 12TH
CLI RELEASE: https://github.com/VerusCoin/VerusCoin/releases/tag/v1.2.3-6
GUI RELEASE: https://github.com/VerusCoin/Verus-Desktop/releases/tag/v1.2.3-6
GUI TESTNET RELEASE: https://github.com/VerusCoin/Verus-Desktop/releases/tag/v1.2.3-6-testnet
Congratulations to vDEX on a successful PBaaS blockchain launch! All functions, with the exception of cross-chain communication to Verus at this time are fully operational, including identities, storage, DeFi, and merge mining or merge staking. Cross-chain traffic between vDEX and Verus mainnet that has not already completed will continue operation on v1.2.3-6 after block 3173198.
Verus VIP protocol enables transfer of identity and currency definitions cross-chain, both as part of a new blockchain launch and on an ongoing basis. The recent launch of vDEX exposed a false rejection issue of the initial notarization verification when identities transferred to the new blockchain were of an older than PBaaS version at the time they were transferred. This is the case with vDEX, and will be addressed now and in the future with v1.2.3-6. There are no other protocol related changes.
As long as people do not change the default notification oracle for their Verus nodes, nodes older than v1.2.3-6 running on the Verus blockchain will pause and wait for upgrade just before the activation block. If you do not have time to update in the next week or before activation, and this happens to you, you should be able to simply close, upgrade, and continue when you are able.
Verus v1.2.3-6 also includes extended capabilities with the getcurrencybalance command and RPC API, enabling a more complete breakdown of address holdings in various currencies. It also includes various other minor improvements.
General VerusId, Verus DeFI, and Public Blockchains as a Service (PBAAS) Capabilities
* On-chain Self Sovereign, Provable Identities, NFTs, and Individual or Organizational Profiles
* On-chain Launches of Token, Centralized Currency, and Liquidity Basket AMMs
* On-chain Launches and Merge Mining of Independent, Connected, Interoperable Blockchains without Programming
Verus ID and NFT Marketplace
Buy and sell VerusIDs on-chain, advertising your offer directly to the owner of an ID or NFT, or posting the sale of your NFT on the worldwide blockchain for all the world to see. Execute transactions in a completely decentralized way. Pay or offer to pay from a transparent or zero-knowledge private address, still auditable by you. Accept payment to either as well, and best of all, execute your transactions directly, peer-to-peer without any intermediary necessary. Don’t worry the on-chain model still makes room for owners to select and share proceeds with value added agents, marketing organizations, or other participants in a new economy of provable digital ownership. It’s the next step in the evolution of VerusID, the most powerful self-sovereign identity and secure storage model for funds in the digital world.
Verus Vault
With Verus Vault you can now protect funds on a VerusID, even from theft of a private key! If you lock your VerusID with Vault you cannot spend funds from that identity at all until it is again unlocked. While locked, you can still stake those same funds on the Verus network and earn by doing so. Of course, you can also still receive funds.
IT IS IMPORTANT TO NOTE THAT ENABLING REVOCATION, RECOVERY, AND ALL VERUS VAULT CAPABILITIES REQUIRE YOU TO HAVE ONE PRIMARY IDENTITY, AND AT LEAST ONE REVOCATION/RECOVERY ID CONFIGURED.
A locked VerusID can always be revoked and recovered by its revocation and recovery authority identities, which circumvents the lock. At the same time, anyone with only the primary keys, even a multisig of primary keys must first unlock, then wait for the predetermined unlock time before they can spend or access funds. This gives you, or maybe a company that specializes in watching the blockchain to whom you've assigned the revocation ID to revoke and recover whenever an unauthorized unlock occurs. That means that like a bank, setting a 24 hour unlock delay on your locked IDs actually provides the first decentralized solution to the infamous 5 dollar wrench attack.
In addition to a new level of blockchain protection and decentralized funds recovery, Verus Vault provides the same security for your IDs and NFTs as well as time locks for other purposes, such as vesting schedules, trusts, and inheritance. With Verus Vault, you can now protect and recover your funds, preserving all your assets and generational blockchain wealth from common forms of crypto loss or theft, no bank required.
New Verus Multicurrency, Multichain, DeFi Enabled Testnet
With an easy GUI for basic operations or command line for more advanced functions. Without any programming, you can now create new identities, currencies, liquidity pools, and blockchains for your business, your government, your projects, a worthy cause, your family, or your next decentralized application suite. Send currencies worldwide on the same chain, or across blockchains with ease. Even convert currencies to others on the network without an exchange by sending to yourself and converting along the way.
The new Verus testnet is a full-featured, intrinsically decentralized multi-chain blockchain platform with an unlimited number of identities, currencies, liquidity pools, and blockchains. It is accessible from the released versions of Verus Desktop and Verus CLI wallets, and it is the beginning of a new age in crypto. There are so many things you can do with Verus that you cannot with any other cryptocurrency platform, and you can try them all today.
As Verus PBaaS offers completely new capabilities that go beyond today’s decentralized platforms in many fundamental ways, the worldwide Verus community put its energy into creation, rather than convincing everyone that its capabilities are possible. Members across the Verus worldwide community have worked hard to make this all possible, and we are more than excited that you can now experience it firsthand. If you have an interest in the future of crypto, you owe it to yourself to learn about Verus, an unlimited scale, decentralized future with truth and privacy for all.
The Verus testnet, available in the Verus Desktop or cli wallets as the VRSCTEST coin, has the following capabilities, which to our knowledge are unique in crypto today.
Self sovereign, revocable, recoverable identities (currently on mainnet) VerusID
* Enables permissionless registration of friendly name strong identities and funds addresses that are simultaneously fully self-sovereign, revocable, and recoverable.
Staking-capable time locking and theft prevention (Verus Vault)
* Enables identities to be locked, preventing any funds under their control from being spent while locked, but still allowing seamless staking of funds. When locked, a user specifies an unlock delay, typically long enough to notice when someone who might have compromised a user’s keys would have to unlock the ID before spending. The only way to circumvent the unlock delay is to revoke and recover an ID. Users may also choose to create and use fresh private keys when unlocking an ID as well. This enables virtually theft proof workflow and a solution to inheritance, trusts, vesting schedules, the 5$ wrench attack, and identity theft. IDs may be used as friendly name cryptocurrency addresses for all currencies on all Verus PBaaS blockchains in the Verus network. The VerusID protocol is a protocol, which can also be implemented on non-Verus systems.
Multi-currency, user created, decentralized tokens and merge-mineable, interoperable blockchains without programming
* Enables any user with an ID to create their own token currency or even full fledged, multi-currency, ID-issuing 50% POW/50% POS, 51% hash attack resistant blockchain that can send and receive from the Verus chain which launched it. All PBaaS chains run from the same daemon, and projects may choose to join the worldwide Verus community in improving the daemon. In doing so, they will start with a complete, multi-currency, ID-capable blockchain with DeFi capabilities that is merge-mineable and stakeable with other blockchains in the Verus network.
Consensus integrated DeFi liquidity pools and fractional currency baskets
* Any ID owner may define Verus DeFi fractional basket currencies with one or more asset currencies backing the liquidity pool at a fractional percentage ranging from 5% to 100% backing. The Verus DeFi protocol ensures that all currency conversions that use a particular liquidity pool and are mined into one block are solved and priced simultaneously, addressing the problems of miner extracted value (MEV) and front-running, while providing fee-based DeFi integrated incentives to miners and stakers, ensuring smooth consensus operation and fee conversion capabilities by integrating DeFi liquidity pools directly into the consensus and cross-chain bridge protocols.
Simultaneous blockchain and blockchain liquidity pool launches
* Launch of a world class, worldwide, merge-mineable blockchain along with a fully decentralized or centralized “bridge” converter liquidity pool as part of defining a new blockchain. Bridge converter currencies have the same flexibility as other fractional 100% asset backed or partially asset backed currencies, but is bound to the launch of the new blockchain, runs on the new blockchain, and all fees generated via cross chain fee conversions or general use of the liquidity pool are earned on the new blockchain with no rent going back to the Verus blockchain, only seamless connectivity.
Blockchain-based, crowdfunding currency launches with minimum participation or automatic refunds, including for dual launches (blockchain and bridge)
* Set required minimum levels of worldwide participation in your preferred currencies on chain. If by the start time of your blockchain, minimums are not met, all participants will automatically get a refund of all of their pre-conversions, less the network fees. The launch options also provide for maximum participation in one or more currencies, pre-launch discounts, price neutral pre-allocations to select IDs that increase the fractional reserve ratio to issue currencies, similarly price neutral carve-outs of proceeds, and pre-launch discounts for early participants. Using VerusIDs, launches can also include vesting schedules in the pre-allocations as well.
An interoperable, multichain network for new use cases and unlimited scale**
* The Verus multi-currency, multi-chain network allows the creation of an unlimited number of interoperable blockchains in the Verus network. Notary IDs, specified at chain definition, provide decentralized blockchain-specific bridge confirmation, enabling public blockchains available to the world for merge mining and staking, as well as private, internal blockchains, which are easy to setup with easy bridging of public currencies into an organization and onto their internal private network and back, with all features and currencies of the public chain but none of the access. There is no limit on the number of blockchains that may continuously operate and interoperate on the Verus network. While there is some overhead for cross notarization, the model for the Verus blockchain network is fractal, enabling an unlimited number of simultaneously operating, interoperable blockchains.
Locking and Unlocking IDs
* Time Lock: The unlockatblock parameter defines the unlock height of the identity.
verus -chain=VRSCTEST setidentitytimelock "id@" '{"unlockatblock":}'
* Time Delay: The setunlockdelay parameter defines how many blocks to delay an ID's unlock when the flags are set back to an unlocked state.
verus -chain=VRSCTEST setidentitytimelock "id@" '{"setunlockdelay":}'
* Revoking an identity will clear its locked status, regardless of time delay or unlock height.
* A locked identity cannot revoke itself.
Conversion Queries
The getcurrencyconverters API retrieves all currencies that have at least 1000 VRSC in reserve, are greater than 10% VRSC reserve ratio, and have all listed currencies as reserves
* E.g. BTC ETH:
verus -chain=VRSCTEST getcurrencyconverters btc eth
Will return all currencies that have btc/eth markets at or above the liquidity threshold.
Sending and Converting Currency
Warning: All testnet coins/currencies have no value and will disappear whenever VRSCTEST is reset
The sendcurrency API can be used to send and convert funds.
* Sending VRSCTEST from a single address (bob@) to a single recipient (alice@):
verus -chain=VRSCTEST sendcurrency "bob@" '[{"currency":"vrsctest","address":"alice@","amount":10}]'
* Sending VRSCTEST from all private wallet funds to two recipients with friendly-name z-addresses (alice@:private and bob@:private):
verus -chain=VRSCTEST sendcurrency "*Z" '[{"currency":"vrsctest","address":"alice@:private","amount":10},{"currency":"VRSCTEST","address":"bob@:private","amount":10}]'
* Converting VRSCTEST to a fractional basket currency, VRSC-BTC using IDs as a funding source:
verus -chain=VRSCTEST sendcurrency "*i" '[{"address":"bob@","amount":10, "convertto":"VRSC-BTC"}]'
* Converting VRSCTEST to another reserve, BTC through a fractional currency, VRSC-BTC:
verus -chain=VRSCTEST sendcurrency "*" '[{"address":"bob@","amount":10, "convertto":"BTC","via":"VRSC-BTC"}]'
* Preconverting to new currency, NEWCOIN, before it is active:
verus -chain=VRSCTEST sendcurrency "*" '[{"address":"alice@","amount":10, "convertto":"NEWCOIN", "preconvert":true, "refundto":"alice@"}]'
* Sending VRSCTEST cross-chain to PBaaSChain:
verus -chain=VRSCTEST sendcurrency "*" '[{"address":"RXLYm4J6qi7yam9zXtkEkRwbvCrnWKGZuv","amount":10, "exportto":"Bridge.PBaaSChain"}]'
* Converting VRSCTEST cross-chain to PBaaSChain:
verus -chain=VRSCTEST sendcurrency "*" '[{"address":"RXLYm4J6qi7yam9zXtkEkRwbvCrnWKGZuv","amount":10, "convertto":"PBaaSChain","exportto":"Bridge.PBaaSChain","via":"Bridge.PBaaSChain"}]'
* Converting PBaaSChain to VRSCTEST:
verus -chain=PBaaSChain sendcurrency "*" '[{"address":"RXLYm4J6qi7yam9zXtkEkRwbvCrnWKGZuv","amount":10, "convertto":"VRSCTEST","exportto":"VRSCTEST","via":"Bridge.PBaaSChain"}]'
Defining a Currency
Currency Options
OPTION_FRACTIONAL = 1 // allows reserve conversion using base calculations when set
OPTION_ID_ISSUANCE = 2 // clear is permissionless, if set, IDs may only be created by controlling ID
OPTION_ID_STAKING = 4 // all IDs on chain stake equally, rather than value-based staking
OPTION_ID_REFERRALS = 8 // if set, this chain supports referrals
OPTION_ID_REFERRALREQUIRED = 16 // if set, this chain requires referrals
OPTION_TOKEN = 32 // if set, this is a token, not a native currency
OPTION_SINGLECURRENCY = 64 // for PBaaS chains or gateways to potentially restrict to single currency
OPTION_GATEWAY = 128 // if set, this routes external currencies
OPTION_PBAAS = 256 // this is a PBaaS chain definition
OPTION_GATEWAY_CONVERTER = 512 // this means that for a specific PBaaS gateway, this is the default converter and will publish prices
OPTION_GATEWAY_NAMECONTROLLER = 1024 // when not set on a gateway, top level ID and currency registration happen on launch chain
OPTION_NFT_TOKEN = 2048 // single satoshi NFT token, tokenizes control over the root ID
To create a currency of a specific name, you need an ID of the same name. The controller of this ID is the only one who can create a currency of that name, and they can only do so once. So, let's hypothetically assume I have 3 IDs, one named gold@, one named mycoin@, and one named mike@. I would like to have one currency, gold@, that I somehow launch in a way that maps it in a way that can be widely trusted to a specific, auditable store of gold. I also would like to launch a token called mycoin@, which is something like a Kickstarter, where a business, "my", offers to attribute the coins some utility or product value if the purchase exceeds a certain level. First, I could define the currency "gold" as follows:
./verus -chain=VRSCTEST definecurrency '{"name":"gold","options":32,"currencies":["vrsctest"],"conversions":[0.01],"minpreconversion":[1000],"preallocations":[{"mike@":50000000.00000000}]}'
of course, since this is a test currency, I send myself some to start. The identity of the currency must be funded with at least 10 VRSCTEST before sending the transaction returned from this command to initiate a currency launch that will start at 50 blocks from when it was made (default), and that must have 1000 VRSCTEST preconverted at 0.01 VRSCTEST per GOLD in order to launch. all of this happens as part of the mining process, since mining the blocks that launch a currency earn the 0.025% conversion fees of participation in the launch, converting VRSCTEST to GOLD. I could send the following command before the block where GOLD token launches. After it launches, the only way at present to create new tokens is with a centralized issuance option. To convert VRSCTEST to GOLD, you could issue the command:
./verus -chain=VRSCTEST sendcurrency "*" '[{"address":"mike@","convertto":"gold","preconvert":1,"amount":100}]'
that would effectively park my conversion until the token launches, at which point, I will either find 0.975 GOLD in my wallet, or I will have my VRSCTEST back. Assuming it launches, and I later want to create mycoin, which can be converted to with either GOLD or VRSCTEST, I can create mycoin with:
./verus -chain=VRSCTEST definecurrency '{"name":"mycoin","options":33, "proofprotocol":2,"currencies":["vrsctest", "gold"],"minpreconversion":[10000,5.1298]}, "initialsupply":20000'
In "mycoin", I set proofprotocol to 2, which is PROOF_CHAINID. That means that the controller of the chain ID can mint new coins as follows:
./verus -chain=VRSCTEST sendcurrency "mycoin@" '[{"address":"mike@","currency":"mycoin","mintnew":1,"amount":10000}]'
Defining a PBaaS blockchain
{
"name": "PBaaSChain",
"options": 264,
"currencies": [
"VRSCTEST"
],
"conversions": [
1
],
"eras": [
{
"reward": 1200000000,
"decay": 0,
"halving": 0,
"eraend": 0
}
],
"notaries": [
"Notary1@",
"Notary2@",
"Notary3@"
],
"minnotariesconfirm": 2,
"nodes": [
{
"networkaddress": "111.111.111.111:10000",
"nodeidentity": "Node1@"
},
{
"networkaddress": "111.111.111.112:10000",
"nodeidentity": "Node2@"
}
],
"gatewayconvertername": "Bridge",
"gatewayconverterissuance": 1000000
}
The bridge definition has overridable defaults
{
"currencies": [
"VRSCTEST",
"PBaaSChain",
"USD"
],
"initialcontributions": [
380228.12033701,
0,
1000000
],
"initialsupply": 3000000
}
Now pass those definitions to definecurrency
./verus -chain=vrsctest definecurrency '{"name":"PBaaSChain","options":264,"currencies":["VRSCTEST"],"conversions":[1],"eras":[{"reward":1200000000,"decay":0,"halving":0,"eraend":0}],"notaries":["Notary1@","Notary2@","Notary3@"],"minnotariesconfirm":2,"nodes":[{"networkaddress":"111.111.111.111:10000","nodeidentity":"Node1@"},{"networkaddress":"111.111.111.112:10000","nodeidentity":"Node2@"}],"gatewayconvertername":"Bridge","gatewayconverterissuance":1000000}' '{"currencies":["VRSCTEST","PBaaSChain","USD"],"initialcontributions":[371747.20398827,0,1000000],"initialsupply":3000000}'
Exporting an ID to a PBaaS chain
verus -chain=VRSCTEST sendcurrency "*" '[{"address":"IDNAME@","exportto":"PBaaSChainName","exportid":"true","amount":100,"currency":"vrsctest"}]'
Signing transactions from multi-signature IDs (testnet and mainnet)
Create transaction, get raw transaction data:
verus sendcurrency@ '[{"address":"","amount":}]'
verus z_getoperationstatus
Take the raw hex transaction data provided by z_getoperationstatus to each additional wallet(s) containing the additional signing addresses/IDs:
verus signrawtransaction
After the last necessary signature is applied, broadcast on the network using:
verus sendrawtransaction
Tokenizing ID control (next generation NFT):
The currency definition have flags OPTION_NFT_TOKEN + OPTION_TOKEN, and a max supply of 1 satoshi that is either pre allocated or pre-converted to. If the token is pre-allocated, then the maximum pre-conversion must be 0.
verus -chain=vrsctest definecurrency '{"name":"ID","options":2080,"preallocations":[{"ControlTokenRecipient@":0.00000001}],"maxpreconversion":[0]}'
Creating an identity with a fractional currency as its parent
registernamecommitment now takes two more positional arguments to specify a currency parent and a funding address. Use quotes "" to leave fields blank, the example below specifies a parent currency, vrsc-btc , but no referrer. We're now able to use z_addresses to fund the name commitment and identity registration
# verus -chain=vrsctest registernamecommitment name controladdress referral parent sourceoffunds
verus -chain=vrsctest registernamecommitment subID RDnf7mH7RQki9b7PqdBD2Er6WXv3DTawGr "" vrsc-btc zs1s2mteau9tcalvk55cnepw3aq7dr6w7f447pqqkxczat3a02208d3ersx60wz9srw3nkd25ppfny
Specify the parent in the identity definition. Enter false for returntx to sign and submit the id registration, 0 for the feeoffer to use the default fee, and the funding identity, transparent address, or z-address
# verus -chain=vrsctest registeridentity '{ID registration with name commitment}' returntx feeoffer sourceoffunds
verus -chain=vrsctest registeridentity '{"txid": "67635331cbccb7a2cbf408a9e97b3f8986133964e0315a8b9fd237a5fd95ac8f","namereservation": { "version": 1, "name": "ID", "parent": "i84mndBk2Znydpgm9T9pTjVvBnHkhErzLt", "salt": "b7070f2ca7495e49c85ab41b5a368150e2c217be6d08cc4102a1b682cddb6f01", "referral": ""},"identity":{"primaryaddresses":["RDnf7mH7RQki9b7PqdBD2Er6WXv3DTawGr"],"minimumsignatures":1,"name":"ID","parent":"vrsc-btc@"}}' false 0 zs1s2mteau9tcalvk55cnepw3aq7dr6w7f447pqqkxczat3a02208d3ersx60wz9srw3nkd25ppfny
If a currency's ID issuance require permission from the currency's identity then it must sign the name commitment and identity registration. Either use the parent identity to fund those transactions, or receive a raw transaction to give the identity owner to sign by setting returntx to true
Limitations in multi-currency to be aware of:
1. (GUI and CLI) You will not be able to make a currency from an ID that has a properly encoded i-address as its actual name, not its calculated ID. Generally, the advice is “don’t do that”. Using an i-address when referring to a currency will only be interpreted as referring to the currency or identity which has that i-address calculated based on its name registration. As a general rule, making an ID with an i-address as its name is not prevented by the protocol, but will cause problems whenever an i-address or name may be used (many cases) and will not be supported for creating currencies. To reduce any potential for user confusion, even though the naming system provides will also be expanding the set of characters that will not be allowed for currency registrations.
2. (GUI) If a currency is supported in the Verus Desktop already, such as BTC or ETH, you will not be able to use those same named currencies as a PBaaS chain. This limitation is considered errata for this testnet release and will not be a limitation before mainnet availability.
Verus v1.2.3-6 also includes extended capabilities with the getcurrencybalancecommand and RPC API, enabling a more complete breakdown of address holdings in various currencies. It also includes various other minor improvements.
TO ADDRESS AN ISSUE THAT IS PREVENTING THE NEW vDEX BLOCKCHAIN FROM NOTARIZING INTO VRSC MAINNET, THIS IS A MANDATORY UPDATE THAT WILL ACTIVATE ON VERUS MAINNET AT:
VERUS MAINNET BLOCK 3173198 - EXPECTED AT ~17:00 UTC ON MONDAY, AUGUST 12TH
CLI RELEASE: https://github.com/VerusCoin/VerusCoin/releases/tag/v1.2.3-6
GUI RELEASE: https://github.com/VerusCoin/Verus-Desktop/releases/tag/v1.2.3-6
GUI TESTNET RELEASE: https://github.com/VerusCoin/Verus-Desktop/releases/tag/v1.2.3-6-testnet
Congratulations to vDEX on a successful PBaaS blockchain launch! All functions, with the exception of cross-chain communication to Verus at this time are fully operational, including identities, storage, DeFi, and merge mining or merge staking. Cross-chain traffic between vDEX and Verus mainnet that has not already completed will continue operation on v1.2.3-6 after block 3173198.
Verus VIP protocol enables transfer of identity and currency definitions cross-chain, both as part of a new blockchain launch and on an ongoing basis. The recent launch of vDEX exposed a false rejection issue of the initial notarization verification when identities transferred to the new blockchain were of an older than PBaaS version at the time they were transferred. This is the case with vDEX, and will be addressed now and in the future with v1.2.3-6. There are no other protocol related changes.
As long as people do not change the default notification oracle for their Verus nodes, nodes older than v1.2.3-6 running on the Verus blockchain will pause and wait for upgrade just before the activation block. If you do not have time to update in the next week or before activation, and this happens to you, you should be able to simply close, upgrade, and continue when you are able.
Verus v1.2.3-6 also includes extended capabilities with the getcurrencybalance command and RPC API, enabling a more complete breakdown of address holdings in various currencies. It also includes various other minor improvements.
General VerusId, Verus DeFI, and Public Blockchains as a Service (PBAAS) Capabilities
* On-chain Self Sovereign, Provable Identities, NFTs, and Individual or Organizational Profiles
* On-chain Launches of Token, Centralized Currency, and Liquidity Basket AMMs
* On-chain Launches and Merge Mining of Independent, Connected, Interoperable Blockchains without Programming
Verus ID and NFT Marketplace
Buy and sell VerusIDs on-chain, advertising your offer directly to the owner of an ID or NFT, or posting the sale of your NFT on the worldwide blockchain for all the world to see. Execute transactions in a completely decentralized way. Pay or offer to pay from a transparent or zero-knowledge private address, still auditable by you. Accept payment to either as well, and best of all, execute your transactions directly, peer-to-peer without any intermediary necessary. Don’t worry the on-chain model still makes room for owners to select and share proceeds with value added agents, marketing organizations, or other participants in a new economy of provable digital ownership. It’s the next step in the evolution of VerusID, the most powerful self-sovereign identity and secure storage model for funds in the digital world.
Verus Vault
With Verus Vault you can now protect funds on a VerusID, even from theft of a private key! If you lock your VerusID with Vault you cannot spend funds from that identity at all until it is again unlocked. While locked, you can still stake those same funds on the Verus network and earn by doing so. Of course, you can also still receive funds.
IT IS IMPORTANT TO NOTE THAT ENABLING REVOCATION, RECOVERY, AND ALL VERUS VAULT CAPABILITIES REQUIRE YOU TO HAVE ONE PRIMARY IDENTITY, AND AT LEAST ONE REVOCATION/RECOVERY ID CONFIGURED.
A locked VerusID can always be revoked and recovered by its revocation and recovery authority identities, which circumvents the lock. At the same time, anyone with only the primary keys, even a multisig of primary keys must first unlock, then wait for the predetermined unlock time before they can spend or access funds. This gives you, or maybe a company that specializes in watching the blockchain to whom you've assigned the revocation ID to revoke and recover whenever an unauthorized unlock occurs. That means that like a bank, setting a 24 hour unlock delay on your locked IDs actually provides the first decentralized solution to the infamous 5 dollar wrench attack.
In addition to a new level of blockchain protection and decentralized funds recovery, Verus Vault provides the same security for your IDs and NFTs as well as time locks for other purposes, such as vesting schedules, trusts, and inheritance. With Verus Vault, you can now protect and recover your funds, preserving all your assets and generational blockchain wealth from common forms of crypto loss or theft, no bank required.
New Verus Multicurrency, Multichain, DeFi Enabled Testnet
With an easy GUI for basic operations or command line for more advanced functions. Without any programming, you can now create new identities, currencies, liquidity pools, and blockchains for your business, your government, your projects, a worthy cause, your family, or your next decentralized application suite. Send currencies worldwide on the same chain, or across blockchains with ease. Even convert currencies to others on the network without an exchange by sending to yourself and converting along the way.
The new Verus testnet is a full-featured, intrinsically decentralized multi-chain blockchain platform with an unlimited number of identities, currencies, liquidity pools, and blockchains. It is accessible from the released versions of Verus Desktop and Verus CLI wallets, and it is the beginning of a new age in crypto. There are so many things you can do with Verus that you cannot with any other cryptocurrency platform, and you can try them all today.
As Verus PBaaS offers completely new capabilities that go beyond today’s decentralized platforms in many fundamental ways, the worldwide Verus community put its energy into creation, rather than convincing everyone that its capabilities are possible. Members across the Verus worldwide community have worked hard to make this all possible, and we are more than excited that you can now experience it firsthand. If you have an interest in the future of crypto, you owe it to yourself to learn about Verus, an unlimited scale, decentralized future with truth and privacy for all.
The Verus testnet, available in the Verus Desktop or cli wallets as the VRSCTEST coin, has the following capabilities, which to our knowledge are unique in crypto today.
Self sovereign, revocable, recoverable identities (currently on mainnet) VerusID
* Enables permissionless registration of friendly name strong identities and funds addresses that are simultaneously fully self-sovereign, revocable, and recoverable.
Staking-capable time locking and theft prevention (Verus Vault)
* Enables identities to be locked, preventing any funds under their control from being spent while locked, but still allowing seamless staking of funds. When locked, a user specifies an unlock delay, typically long enough to notice when someone who might have compromised a user’s keys would have to unlock the ID before spending. The only way to circumvent the unlock delay is to revoke and recover an ID. Users may also choose to create and use fresh private keys when unlocking an ID as well. This enables virtually theft proof workflow and a solution to inheritance, trusts, vesting schedules, the 5$ wrench attack, and identity theft. IDs may be used as friendly name cryptocurrency addresses for all currencies on all Verus PBaaS blockchains in the Verus network. The VerusID protocol is a protocol, which can also be implemented on non-Verus systems.
Multi-currency, user created, decentralized tokens and merge-mineable, interoperable blockchains without programming
* Enables any user with an ID to create their own token currency or even full fledged, multi-currency, ID-issuing 50% POW/50% POS, 51% hash attack resistant blockchain that can send and receive from the Verus chain which launched it. All PBaaS chains run from the same daemon, and projects may choose to join the worldwide Verus community in improving the daemon. In doing so, they will start with a complete, multi-currency, ID-capable blockchain with DeFi capabilities that is merge-mineable and stakeable with other blockchains in the Verus network.
Consensus integrated DeFi liquidity pools and fractional currency baskets
* Any ID owner may define Verus DeFi fractional basket currencies with one or more asset currencies backing the liquidity pool at a fractional percentage ranging from 5% to 100% backing. The Verus DeFi protocol ensures that all currency conversions that use a particular liquidity pool and are mined into one block are solved and priced simultaneously, addressing the problems of miner extracted value (MEV) and front-running, while providing fee-based DeFi integrated incentives to miners and stakers, ensuring smooth consensus operation and fee conversion capabilities by integrating DeFi liquidity pools directly into the consensus and cross-chain bridge protocols.
Simultaneous blockchain and blockchain liquidity pool launches
* Launch of a world class, worldwide, merge-mineable blockchain along with a fully decentralized or centralized “bridge” converter liquidity pool as part of defining a new blockchain. Bridge converter currencies have the same flexibility as other fractional 100% asset backed or partially asset backed currencies, but is bound to the launch of the new blockchain, runs on the new blockchain, and all fees generated via cross chain fee conversions or general use of the liquidity pool are earned on the new blockchain with no rent going back to the Verus blockchain, only seamless connectivity.
Blockchain-based, crowdfunding currency launches with minimum participation or automatic refunds, including for dual launches (blockchain and bridge)
* Set required minimum levels of worldwide participation in your preferred currencies on chain. If by the start time of your blockchain, minimums are not met, all participants will automatically get a refund of all of their pre-conversions, less the network fees. The launch options also provide for maximum participation in one or more currencies, pre-launch discounts, price neutral pre-allocations to select IDs that increase the fractional reserve ratio to issue currencies, similarly price neutral carve-outs of proceeds, and pre-launch discounts for early participants. Using VerusIDs, launches can also include vesting schedules in the pre-allocations as well.
An interoperable, multichain network for new use cases and unlimited scale**
* The Verus multi-currency, multi-chain network allows the creation of an unlimited number of interoperable blockchains in the Verus network. Notary IDs, specified at chain definition, provide decentralized blockchain-specific bridge confirmation, enabling public blockchains available to the world for merge mining and staking, as well as private, internal blockchains, which are easy to setup with easy bridging of public currencies into an organization and onto their internal private network and back, with all features and currencies of the public chain but none of the access. There is no limit on the number of blockchains that may continuously operate and interoperate on the Verus network. While there is some overhead for cross notarization, the model for the Verus blockchain network is fractal, enabling an unlimited number of simultaneously operating, interoperable blockchains.
Locking and Unlocking IDs
* Time Lock: The unlockatblock parameter defines the unlock height of the identity.
verus -chain=VRSCTEST setidentitytimelock "id@" '{"unlockatblock":
* Time Delay: The setunlockdelay parameter defines how many blocks to delay an ID's unlock when the flags are set back to an unlocked state.
verus -chain=VRSCTEST setidentitytimelock "id@" '{"setunlockdelay":
* Revoking an identity will clear its locked status, regardless of time delay or unlock height.
* A locked identity cannot revoke itself.
Conversion Queries
The getcurrencyconverters API retrieves all currencies that have at least 1000 VRSC in reserve, are greater than 10% VRSC reserve ratio, and have all listed currencies as reserves
* E.g. BTC ETH:
verus -chain=VRSCTEST getcurrencyconverters btc eth
Will return all currencies that have btc/eth markets at or above the liquidity threshold.
Sending and Converting Currency
Warning: All testnet coins/currencies have no value and will disappear whenever VRSCTEST is reset
The sendcurrency API can be used to send and convert funds.
* Sending VRSCTEST from a single address (bob@) to a single recipient (alice@):
verus -chain=VRSCTEST sendcurrency "bob@" '[{"currency":"vrsctest","address":"alice@","amount":10}]'
* Sending VRSCTEST from all private wallet funds to two recipients with friendly-name z-addresses (alice@:private and bob@:private):
verus -chain=VRSCTEST sendcurrency "*Z" '[{"currency":"vrsctest","address":"alice@:private","amount":10},{"currency":"VRSCTEST","address":"bob@:private","amount":10}]'
* Converting VRSCTEST to a fractional basket currency, VRSC-BTC using IDs as a funding source:
verus -chain=VRSCTEST sendcurrency "*i" '[{"address":"bob@","amount":10, "convertto":"VRSC-BTC"}]'
* Converting VRSCTEST to another reserve, BTC through a fractional currency, VRSC-BTC:
verus -chain=VRSCTEST sendcurrency "*" '[{"address":"bob@","amount":10, "convertto":"BTC","via":"VRSC-BTC"}]'
* Preconverting to new currency, NEWCOIN, before it is active:
verus -chain=VRSCTEST sendcurrency "*" '[{"address":"alice@","amount":10, "convertto":"NEWCOIN", "preconvert":true, "refundto":"alice@"}]'
* Sending VRSCTEST cross-chain to PBaaSChain:
verus -chain=VRSCTEST sendcurrency "*" '[{"address":"RXLYm4J6qi7yam9zXtkEkRwbvCrnWKGZuv","amount":10, "exportto":"Bridge.PBaaSChain"}]'
* Converting VRSCTEST cross-chain to PBaaSChain:
verus -chain=VRSCTEST sendcurrency "*" '[{"address":"RXLYm4J6qi7yam9zXtkEkRwbvCrnWKGZuv","amount":10, "convertto":"PBaaSChain","exportto":"Bridge.PBaaSChain","via":"Bridge.PBaaSChain"}]'
* Converting PBaaSChain to VRSCTEST:
verus -chain=PBaaSChain sendcurrency "*" '[{"address":"RXLYm4J6qi7yam9zXtkEkRwbvCrnWKGZuv","amount":10, "convertto":"VRSCTEST","exportto":"VRSCTEST","via":"Bridge.PBaaSChain"}]'
Defining a Currency
Currency Options
OPTION_FRACTIONAL = 1 // allows reserve conversion using base calculations when set
OPTION_ID_ISSUANCE = 2 // clear is permissionless, if set, IDs may only be created by controlling ID
OPTION_ID_STAKING = 4 // all IDs on chain stake equally, rather than value-based staking
OPTION_ID_REFERRALS = 8 // if set, this chain supports referrals
OPTION_ID_REFERRALREQUIRED = 16 // if set, this chain requires referrals
OPTION_TOKEN = 32 // if set, this is a token, not a native currency
OPTION_SINGLECURRENCY = 64 // for PBaaS chains or gateways to potentially restrict to single currency
OPTION_GATEWAY = 128 // if set, this routes external currencies
OPTION_PBAAS = 256 // this is a PBaaS chain definition
OPTION_GATEWAY_CONVERTER = 512 // this means that for a specific PBaaS gateway, this is the default converter and will publish prices
OPTION_GATEWAY_NAMECONTROLLER = 1024 // when not set on a gateway, top level ID and currency registration happen on launch chain
OPTION_NFT_TOKEN = 2048 // single satoshi NFT token, tokenizes control over the root ID
To create a currency of a specific name, you need an ID of the same name. The controller of this ID is the only one who can create a currency of that name, and they can only do so once. So, let's hypothetically assume I have 3 IDs, one named gold@, one named mycoin@, and one named mike@. I would like to have one currency, gold@, that I somehow launch in a way that maps it in a way that can be widely trusted to a specific, auditable store of gold. I also would like to launch a token called mycoin@, which is something like a Kickstarter, where a business, "my", offers to attribute the coins some utility or product value if the purchase exceeds a certain level. First, I could define the currency "gold" as follows:
./verus -chain=VRSCTEST definecurrency '{"name":"gold","options":32,"currencies":["vrsctest"],"conversions":[0.01],"minpreconversion":[1000],"preallocations":[{"mike@":50000000.00000000}]}'
of course, since this is a test currency, I send myself some to start. The identity of the currency must be funded with at least 10 VRSCTEST before sending the transaction returned from this command to initiate a currency launch that will start at 50 blocks from when it was made (default), and that must have 1000 VRSCTEST preconverted at 0.01 VRSCTEST per GOLD in order to launch. all of this happens as part of the mining process, since mining the blocks that launch a currency earn the 0.025% conversion fees of participation in the launch, converting VRSCTEST to GOLD. I could send the following command before the block where GOLD token launches. After it launches, the only way at present to create new tokens is with a centralized issuance option. To convert VRSCTEST to GOLD, you could issue the command:
./verus -chain=VRSCTEST sendcurrency "*" '[{"address":"mike@","convertto":"gold","preconvert":1,"amount":100}]'
that would effectively park my conversion until the token launches, at which point, I will either find 0.975 GOLD in my wallet, or I will have my VRSCTEST back. Assuming it launches, and I later want to create mycoin, which can be converted to with either GOLD or VRSCTEST, I can create mycoin with:
./verus -chain=VRSCTEST definecurrency '{"name":"mycoin","options":33, "proofprotocol":2,"currencies":["vrsctest", "gold"],"minpreconversion":[10000,5.1298]}, "initialsupply":20000'
In "mycoin", I set proofprotocol to 2, which is PROOF_CHAINID. That means that the controller of the chain ID can mint new coins as follows:
./verus -chain=VRSCTEST sendcurrency "mycoin@" '[{"address":"mike@","currency":"mycoin","mintnew":1,"amount":10000}]'
Defining a PBaaS blockchain
{
"name": "PBaaSChain",
"options": 264,
"currencies": [
"VRSCTEST"
],
"conversions": [
1
],
"eras": [
{
"reward": 1200000000,
"decay": 0,
"halving": 0,
"eraend": 0
}
],
"notaries": [
"Notary1@",
"Notary2@",
"Notary3@"
],
"minnotariesconfirm": 2,
"nodes": [
{
"networkaddress": "111.111.111.111:10000",
"nodeidentity": "Node1@"
},
{
"networkaddress": "111.111.111.112:10000",
"nodeidentity": "Node2@"
}
],
"gatewayconvertername": "Bridge",
"gatewayconverterissuance": 1000000
}
The bridge definition has overridable defaults
{
"currencies": [
"VRSCTEST",
"PBaaSChain",
"USD"
],
"initialcontributions": [
380228.12033701,
0,
1000000
],
"initialsupply": 3000000
}
Now pass those definitions to definecurrency
./verus -chain=vrsctest definecurrency '{"name":"PBaaSChain","options":264,"currencies":["VRSCTEST"],"conversions":[1],"eras":[{"reward":1200000000,"decay":0,"halving":0,"eraend":0}],"notaries":["Notary1@","Notary2@","Notary3@"],"minnotariesconfirm":2,"nodes":[{"networkaddress":"111.111.111.111:10000","nodeidentity":"Node1@"},{"networkaddress":"111.111.111.112:10000","nodeidentity":"Node2@"}],"gatewayconvertername":"Bridge","gatewayconverterissuance":1000000}' '{"currencies":["VRSCTEST","PBaaSChain","USD"],"initialcontributions":[371747.20398827,0,1000000],"initialsupply":3000000}'
Exporting an ID to a PBaaS chain
verus -chain=VRSCTEST sendcurrency "*" '[{"address":"IDNAME@","exportto":"PBaaSChainName","exportid":"true","amount":100,"currency":"vrsctest"}]'
Signing transactions from multi-signature IDs (testnet and mainnet)
Create transaction, get raw transaction data:
verus sendcurrency
verus z_getoperationstatus
Take the raw hex transaction data provided by z_getoperationstatus to each additional wallet(s) containing the additional signing addresses/IDs:
verus signrawtransaction
After the last necessary signature is applied, broadcast on the network using:
verus sendrawtransaction
Tokenizing ID control (next generation NFT):
The currency definition have flags OPTION_NFT_TOKEN + OPTION_TOKEN, and a max supply of 1 satoshi that is either pre allocated or pre-converted to. If the token is pre-allocated, then the maximum pre-conversion must be 0.
verus -chain=vrsctest definecurrency '{"name":"ID","options":2080,"preallocations":[{"ControlTokenRecipient@":0.00000001}],"maxpreconversion":[0]}'
Creating an identity with a fractional currency as its parent
registernamecommitment now takes two more positional arguments to specify a currency parent and a funding address. Use quotes "" to leave fields blank, the example below specifies a parent currency, vrsc-btc , but no referrer. We're now able to use z_addresses to fund the name commitment and identity registration
# verus -chain=vrsctest registernamecommitment name controladdress referral parent sourceoffunds
verus -chain=vrsctest registernamecommitment subID RDnf7mH7RQki9b7PqdBD2Er6WXv3DTawGr "" vrsc-btc zs1s2mteau9tcalvk55cnepw3aq7dr6w7f447pqqkxczat3a02208d3ersx60wz9srw3nkd25ppfny
Specify the parent in the identity definition. Enter false for returntx to sign and submit the id registration, 0 for the feeoffer to use the default fee, and the funding identity, transparent address, or z-address
# verus -chain=vrsctest registeridentity '{ID registration with name commitment}' returntx feeoffer sourceoffunds
verus -chain=vrsctest registeridentity '{"txid": "67635331cbccb7a2cbf408a9e97b3f8986133964e0315a8b9fd237a5fd95ac8f","namereservation": { "version": 1, "name": "ID", "parent": "i84mndBk2Znydpgm9T9pTjVvBnHkhErzLt", "salt": "b7070f2ca7495e49c85ab41b5a368150e2c217be6d08cc4102a1b682cddb6f01", "referral": ""},"identity":{"primaryaddresses":["RDnf7mH7RQki9b7PqdBD2Er6WXv3DTawGr"],"minimumsignatures":1,"name":"ID","parent":"vrsc-btc@"}}' false 0 zs1s2mteau9tcalvk55cnepw3aq7dr6w7f447pqqkxczat3a02208d3ersx60wz9srw3nkd25ppfny
If a currency's ID issuance require permission from the currency's identity then it must sign the name commitment and identity registration. Either use the parent identity to fund those transactions, or receive a raw transaction to give the identity owner to sign by setting returntx to true
Limitations in multi-currency to be aware of:
1. (GUI and CLI) You will not be able to make a currency from an ID that has a properly encoded i-address as its actual name, not its calculated ID. Generally, the advice is “don’t do that”. Using an i-address when referring to a currency will only be interpreted as referring to the currency or identity which has that i-address calculated based on its name registration. As a general rule, making an ID with an i-address as its name is not prevented by the protocol, but will cause problems whenever an i-address or name may be used (many cases) and will not be supported for creating currencies. To reduce any potential for user confusion, even though the naming system provides will also be expanding the set of characters that will not be allowed for currency registrations.
2. (GUI) If a currency is supported in the Verus Desktop already, such as BTC or ETH, you will not be able to use those same named currencies as a PBaaS chain. This limitation is considered errata for this testnet release and will not be a limitation before mainnet availability.
Verus v1.2.3-6 also includes extended capabilities with the getcurrencybalancecommand and RPC API, enabling a more complete breakdown of address holdings in various currencies. It also includes various other minor improvements.
August 01, 2024, 06:23:42 PM
Some topics are only included as a headline with a timestamp because it makes more sense to listen to the specific part of the recording if you are interested. The recording can be found here (Saturday) and here (Tuesday).Saturday:vDEX chain definition mined in (00:30)vDEX will be the second PBaaS chain on the Verus network, the definition has been mined in, pre-conversion of the Bridge.vDEX basket has begun with a 5% discount. The chain will launch Friday at 1300 UTC.Q&A on the vDEX launch (06:40)
When are the Light Wallet servers and explorers expected?They will be available when the chain launches.What is the vDEX block reward and do I need an ID to stake?You don’t need an ID to stake. The block reward is 0.00777 vDEX.
What is the price of an ID on vDEX?The price of an ID is one vDEX, which is currently worth about $10. However, the actual price will be determined once the bridge is launched.Will there still be dividends from the workings of the DEX assets?
There’s no guarantee that this will happen and it’s up to James whether he will do it or not. vDEX was primarily launched to utilize Verus technology such as on-chain storage.Is vDEX compatible with Komodo Wallet?Yes, vDEX as an independent chain will be compatible with Komodo Wallet.
It is up to the Komodo Wallet maintainers which pairs and how much liquidity will be offered.Can a currency like tBTC be sent directly from vDEX to vARRR?No, there is no direct way from vDEX to vARRR, you have to send it from vDEX to Verus and then from Verus to vARRR.Verus ID verification bot is live (02:40)
Paco used the Valuverse ID provisioning bot created by Monkins as a base to develop the ID verification bot.To get the verified role you need to type /getverifiedin any channel, then scan the QR code or open the link with your mobile wallet and sign with a VerusID.Video creation project and other marketing ideas (21:00)
Currently ejuliano, KB, brainchild and Vince are working on video production. If you are interested in helping or have any ideas, please reach out in the marketing channel.NATI updates (47:15)
The proxy contract has been audited and looks good.33isprogrammed will create a video for the NATI community on how to use Verus once the currency is live on Verus.Tuesday:Updates and ideas for the TUM blockchain conference (2:10)
Try the Verus Protocol Yourself!
✅Look up http://docs.verus.io/ to use many API commands (e.g. launching currencies, tokens & liquidity pools).Or l
ook up the complete command list https://wiki.verus.io/#!faq-cli/clifaq-02_verus_commands.md.
Join the community.
Learn about the protocol.
Use Verus & build.➡️ Join the community on http://www.verus.io/discord
Follow on https://twitter.com/VerusCoin
Go to www.verus.io
When are the Light Wallet servers and explorers expected?They will be available when the chain launches.What is the vDEX block reward and do I need an ID to stake?You don’t need an ID to stake. The block reward is 0.00777 vDEX.
What is the price of an ID on vDEX?The price of an ID is one vDEX, which is currently worth about $10. However, the actual price will be determined once the bridge is launched.Will there still be dividends from the workings of the DEX assets?
There’s no guarantee that this will happen and it’s up to James whether he will do it or not. vDEX was primarily launched to utilize Verus technology such as on-chain storage.Is vDEX compatible with Komodo Wallet?Yes, vDEX as an independent chain will be compatible with Komodo Wallet.
It is up to the Komodo Wallet maintainers which pairs and how much liquidity will be offered.Can a currency like tBTC be sent directly from vDEX to vARRR?No, there is no direct way from vDEX to vARRR, you have to send it from vDEX to Verus and then from Verus to vARRR.Verus ID verification bot is live (02:40)
Paco used the Valuverse ID provisioning bot created by Monkins as a base to develop the ID verification bot.To get the verified role you need to type /getverifiedin any channel, then scan the QR code or open the link with your mobile wallet and sign with a VerusID.Video creation project and other marketing ideas (21:00)
Currently ejuliano, KB, brainchild and Vince are working on video production. If you are interested in helping or have any ideas, please reach out in the marketing channel.NATI updates (47:15)
The proxy contract has been audited and looks good.33isprogrammed will create a video for the NATI community on how to use Verus once the currency is live on Verus.Tuesday:Updates and ideas for the TUM blockchain conference (2:10)
Try the Verus Protocol Yourself!
✅Look up http://docs.verus.io/ to use many API commands (e.g. launching currencies, tokens & liquidity pools).Or l
ook up the complete command list https://wiki.verus.io/#!faq-cli/clifaq-02_verus_commands.md.
Join the community.
Learn about the protocol.
Use Verus & build.➡️ Join the community on http://www.verus.io/discord
Follow on https://twitter.com/VerusCoin
Go to www.verus.io
July 26, 2024, 11:15:41 PM
From discord announcement
This is somewhat of an announcement, and also a PSA, as I have become aware of the fact that the vDEX blockchain and Bridge.vDEX have been defined on Verus mainnet. This launch has raised the mining and staking rewards on Verus for a while, initially to over 50 VRSC and dropping slowly as it is earned from the fee pool. vDEX and Bridge.vDEX will officially launch as a PBaaS chain and bridge converter currency, after block 3159230 on Verus mainnet. Until then, it looks like the bridge fee converter basket, Bridge.vDEX, will launch as a 100% backed basket, 20% by each of VRSC, vDEX, vETH, DAI.vETH, and tBTC.vETH, and also that you may pre-convert to Bridge.vDEX, but vDEX native is not open for pre-conversions, as its supply is very limited. Rewards on vDEX, not including the vDEX fee pool, will start at 0.00777000 Satoshis of vDEX. Initial per-block rewards on the vDEX PBaaS chain will be some significant amount more of vDEX that will come out at launch from conversions and launch fees, plus about 47 VRSC on the vDEX chain. The VRSC earned by merge-mining vDEX and Verus, along with any other chains, such as vARRR, may be used on vDEX or sent back to the Verus chain for staking or other use.
[edit}: I have been notified that I forgot to mention there is a 5% pre-launch discount in the bridge basket definition. What that means is that the pre-launch conversion rate will be 5% less in any of the reserve currencies than the final on-chain conversion rate when Bridge.vDEX goes live. The actual value of the basket over time will depend on the total value of its constituent currencies.
For people who may not know how to get basic information on the vDEX launch, here are some facts about it, in addition to what I've said above, that you can learn from the on-chain definition:
1) vDEX will launch as a Proof of Power (50% PoW/50%PoS) PBaaS blockchain connected to the rest of the Verus network and indirectly to Ethereum, and this launch increases the total bandwidth, processing, and storage capability of the PBaaS Internet of Value.
2) vDEX has a 1 minute block time and is merge mineable with Verus, vARRR, and future PBaaS blockchains
3) Staking is permissionless and you do not need a `*.vDEX` ID to stake, only some vDEX in a staking node's wallet
4) vDEX bridge converter is in pre-launch mode and will operate on the vDEX chain when it goes live. Again, it will be 100% backed with 20% by each of VRSC, vDEX, vETH, DAI.vETH, and tBTC.vETH. The actual amounts of each will be determined by the pre-launch phase and on-chain pre-conversions/arbitrage.
5) Over the life of the blockchain, the total supply of vDEX, which is almost all distributed to vDEX holders, will max out at 1 million vDEX. Bridge.vDEX will start at 100K supply, regardless of how much people participate in pre-launch. 5K of that is being donated to "Verus Coin Foundation@", to be used for the benefit of the Verus network, and 10K will go to Supernet. There will also be a 5% pre-launch discount for all pre-conversion transactions relative to the final on-chain conversion rate at launch. This is built into the protocol and was specified in the currency definition so that the final reserve backing will be 100% between all currencies.
6) The vDEX blockchain will support the same storage, currency, data, and ID APIs as Verus, and fees on the vDEX chain for IDs, currencies, storage, and other things have been set to be lower, as there is less vDEX available for use. For example, it has a *.vDEX ID price of 1 vDEX, a currency launch is 10 vDEX, etc.
This is somewhat of an announcement, and also a PSA, as I have become aware of the fact that the vDEX blockchain and Bridge.vDEX have been defined on Verus mainnet. This launch has raised the mining and staking rewards on Verus for a while, initially to over 50 VRSC and dropping slowly as it is earned from the fee pool. vDEX and Bridge.vDEX will officially launch as a PBaaS chain and bridge converter currency, after block 3159230 on Verus mainnet. Until then, it looks like the bridge fee converter basket, Bridge.vDEX, will launch as a 100% backed basket, 20% by each of VRSC, vDEX, vETH, DAI.vETH, and tBTC.vETH, and also that you may pre-convert to Bridge.vDEX, but vDEX native is not open for pre-conversions, as its supply is very limited. Rewards on vDEX, not including the vDEX fee pool, will start at 0.00777000 Satoshis of vDEX. Initial per-block rewards on the vDEX PBaaS chain will be some significant amount more of vDEX that will come out at launch from conversions and launch fees, plus about 47 VRSC on the vDEX chain. The VRSC earned by merge-mining vDEX and Verus, along with any other chains, such as vARRR, may be used on vDEX or sent back to the Verus chain for staking or other use.
[edit}: I have been notified that I forgot to mention there is a 5% pre-launch discount in the bridge basket definition. What that means is that the pre-launch conversion rate will be 5% less in any of the reserve currencies than the final on-chain conversion rate when Bridge.vDEX goes live. The actual value of the basket over time will depend on the total value of its constituent currencies.
For people who may not know how to get basic information on the vDEX launch, here are some facts about it, in addition to what I've said above, that you can learn from the on-chain definition:
1) vDEX will launch as a Proof of Power (50% PoW/50%PoS) PBaaS blockchain connected to the rest of the Verus network and indirectly to Ethereum, and this launch increases the total bandwidth, processing, and storage capability of the PBaaS Internet of Value.
2) vDEX has a 1 minute block time and is merge mineable with Verus, vARRR, and future PBaaS blockchains
3) Staking is permissionless and you do not need a `*.vDEX` ID to stake, only some vDEX in a staking node's wallet
4) vDEX bridge converter is in pre-launch mode and will operate on the vDEX chain when it goes live. Again, it will be 100% backed with 20% by each of VRSC, vDEX, vETH, DAI.vETH, and tBTC.vETH. The actual amounts of each will be determined by the pre-launch phase and on-chain pre-conversions/arbitrage.
5) Over the life of the blockchain, the total supply of vDEX, which is almost all distributed to vDEX holders, will max out at 1 million vDEX. Bridge.vDEX will start at 100K supply, regardless of how much people participate in pre-launch. 5K of that is being donated to "Verus Coin Foundation@", to be used for the benefit of the Verus network, and 10K will go to Supernet. There will also be a 5% pre-launch discount for all pre-conversion transactions relative to the final on-chain conversion rate at launch. This is built into the protocol and was specified in the currency definition so that the final reserve backing will be 100% between all currencies.
6) The vDEX blockchain will support the same storage, currency, data, and ID APIs as Verus, and fees on the vDEX chain for IDs, currencies, storage, and other things have been set to be lower, as there is less vDEX available for use. For example, it has a *.vDEX ID price of 1 vDEX, a currency launch is 10 vDEX, etc.
July 15, 2024, 06:26:02 AM
Announcing Verus v1.2.3-5 - MANDATORY UPDATE FOR MAINNET, HIGHLY RECOMMENDED FOR TESTNET TO ADDRESS A CROSS-CHAIN TRAFFIC BLOCKAGE BETWEEN Verus AND vARRR BLOCKCHAINS, AND TO PREVENT ANY SIMILAR BLOCKAGE IN THE FUTURE ON ANY CHAIN, THIS VERSION IS MANDATORY TO STAY CONNECTED TO MAINNET CHAINS AND RECOMMENDED FOR TESTNET.
PLEASE UPGRADE BEFORE: VERUS MAINNET BLOCK 3143920 - EXPECTED AT ~17:00 UTC ON MONDAY, JULY 22ND
CLI RELEASE: https://github.com/VerusCoin/VerusCoin/releases/tag/v1.2.3-5
GUI RELEASE: https://github.com/VerusCoin/Verus-Desktop/releases/tag/v1.2.3-5
GUI TESTNET RELEASE: https://github.com/VerusCoin/Verus-Desktop/releases/tag/v1.2.3-5-testnet
It is possible, if the community decides, to change the activation time to either earlier or later via oracle notification. If the community does decide to change the activation, for example after Tuesday’s meeting, it will be announced here with the most possible notice. We hope and believe this target activation should be acceptable notice and also timely enough for all users.
As long as people do not change the default notification oracle for their Verus nodes, nodes older than v1.2.3-5 running on the Verus blockchain will pause and wait for upgrade just before the activation block. If you do not have time to update in the next week or before activation, and this happens to you, you should be able to simply close, upgrade, and continue when you are able.
Verus v1.2.3-5 contains a fix in the verification code for advanced cross-chain proofs that was falsely rejecting valid cross-chain proofs between Verus and PBaaS chains, only in the case of mainnet.
There are no other protocol or functional changes in v1.2.3-5.
PLEASE UPGRADE BEFORE: VERUS MAINNET BLOCK 3143920 - EXPECTED AT ~17:00 UTC ON MONDAY, JULY 22ND
CLI RELEASE: https://github.com/VerusCoin/VerusCoin/releases/tag/v1.2.3-5
GUI RELEASE: https://github.com/VerusCoin/Verus-Desktop/releases/tag/v1.2.3-5
GUI TESTNET RELEASE: https://github.com/VerusCoin/Verus-Desktop/releases/tag/v1.2.3-5-testnet
It is possible, if the community decides, to change the activation time to either earlier or later via oracle notification. If the community does decide to change the activation, for example after Tuesday’s meeting, it will be announced here with the most possible notice. We hope and believe this target activation should be acceptable notice and also timely enough for all users.
As long as people do not change the default notification oracle for their Verus nodes, nodes older than v1.2.3-5 running on the Verus blockchain will pause and wait for upgrade just before the activation block. If you do not have time to update in the next week or before activation, and this happens to you, you should be able to simply close, upgrade, and continue when you are able.
Verus v1.2.3-5 contains a fix in the verification code for advanced cross-chain proofs that was falsely rejecting valid cross-chain proofs between Verus and PBaaS chains, only in the case of mainnet.
There are no other protocol or functional changes in v1.2.3-5.
Thanks for the update, hope everyone updates in time to avoid further trouble. This should patch the reorgs that were happening on the vARRR blockchains, correct?
July 14, 2024, 06:43:07 PM
Announcing Verus v1.2.3-5 - MANDATORY UPDATE FOR MAINNET, HIGHLY RECOMMENDED FOR TESTNET TO ADDRESS A CROSS-CHAIN TRAFFIC BLOCKAGE BETWEEN Verus AND vARRR BLOCKCHAINS, AND TO PREVENT ANY SIMILAR BLOCKAGE IN THE FUTURE ON ANY CHAIN, THIS VERSION IS MANDATORY TO STAY CONNECTED TO MAINNET CHAINS AND RECOMMENDED FOR TESTNET.
PLEASE UPGRADE BEFORE: VERUS MAINNET BLOCK 3143920 - EXPECTED AT ~17:00 UTC ON MONDAY, JULY 22ND
CLI RELEASE: https://github.com/VerusCoin/VerusCoin/releases/tag/v1.2.3-5
GUI RELEASE: https://github.com/VerusCoin/Verus-Desktop/releases/tag/v1.2.3-5
GUI TESTNET RELEASE: https://github.com/VerusCoin/Verus-Desktop/releases/tag/v1.2.3-5-testnet
It is possible, if the community decides, to change the activation time to either earlier or later via oracle notification. If the community does decide to change the activation, for example after Tuesday’s meeting, it will be announced here with the most possible notice. We hope and believe this target activation should be acceptable notice and also timely enough for all users.
As long as people do not change the default notification oracle for their Verus nodes, nodes older than v1.2.3-5 running on the Verus blockchain will pause and wait for upgrade just before the activation block. If you do not have time to update in the next week or before activation, and this happens to you, you should be able to simply close, upgrade, and continue when you are able.
Verus v1.2.3-5 contains a fix in the verification code for advanced cross-chain proofs that was falsely rejecting valid cross-chain proofs between Verus and PBaaS chains, only in the case of mainnet.
There are no other protocol or functional changes in v1.2.3-5.
PLEASE UPGRADE BEFORE: VERUS MAINNET BLOCK 3143920 - EXPECTED AT ~17:00 UTC ON MONDAY, JULY 22ND
CLI RELEASE: https://github.com/VerusCoin/VerusCoin/releases/tag/v1.2.3-5
GUI RELEASE: https://github.com/VerusCoin/Verus-Desktop/releases/tag/v1.2.3-5
GUI TESTNET RELEASE: https://github.com/VerusCoin/Verus-Desktop/releases/tag/v1.2.3-5-testnet
It is possible, if the community decides, to change the activation time to either earlier or later via oracle notification. If the community does decide to change the activation, for example after Tuesday’s meeting, it will be announced here with the most possible notice. We hope and believe this target activation should be acceptable notice and also timely enough for all users.
As long as people do not change the default notification oracle for their Verus nodes, nodes older than v1.2.3-5 running on the Verus blockchain will pause and wait for upgrade just before the activation block. If you do not have time to update in the next week or before activation, and this happens to you, you should be able to simply close, upgrade, and continue when you are able.
Verus v1.2.3-5 contains a fix in the verification code for advanced cross-chain proofs that was falsely rejecting valid cross-chain proofs between Verus and PBaaS chains, only in the case of mainnet.
There are no other protocol or functional changes in v1.2.3-5.
July 14, 2024, 05:59:43 AM
Announcing Verus v1.2.3-4 - CRITICAL UPDATE FOR MINERS OR STAKERS ON ALL CHAINS, HIGHLY RECOMMENDED FOR ALL USERS
CLI RELEASE: https://github.com/VerusCoin/VerusCoin/releases/tag/v1.2.3-4
GUI RELEASE: https://github.com/VerusCoin/Verus-Desktop/releases/tag/v1.2.3-4
GUI TESTNET RELEASE: https://github.com/VerusCoin/Verus-Desktop/releases/tag/v1.2.3-4-testnet
Verus v1.2.3-4 addresses an issue that can permit transactions to enter default miner and staker mempools, even if those transactions have underpaid certain expected fees.
This version ensures that miners and stakers will properly enforce the limits for underpaid transactions. It does not have protocol changes.
New CLI command and RPC API in v1.2.3-4 In v1.2.3-4, it is now possible to send an array of conversions, instead of just one, to the estimateconversion CLI command, requesting estimates on multiple different conversions over a single currency basket to be simultaneously solved. This makes it easy for those who might participate in arbitrage or balancing of baskets to determine an estimated set of conversions on a multicurrency basket that would result in a specific rebalancing outcome.
We recommend that miners, stakers, and witnesses update as soon as possible and that everyone else updates when convenient.
CLI RELEASE: https://github.com/VerusCoin/VerusCoin/releases/tag/v1.2.3-4
GUI RELEASE: https://github.com/VerusCoin/Verus-Desktop/releases/tag/v1.2.3-4
GUI TESTNET RELEASE: https://github.com/VerusCoin/Verus-Desktop/releases/tag/v1.2.3-4-testnet
Verus v1.2.3-4 addresses an issue that can permit transactions to enter default miner and staker mempools, even if those transactions have underpaid certain expected fees.
This version ensures that miners and stakers will properly enforce the limits for underpaid transactions. It does not have protocol changes.
New CLI command and RPC API in v1.2.3-4 In v1.2.3-4, it is now possible to send an array of conversions, instead of just one, to the estimateconversion CLI command, requesting estimates on multiple different conversions over a single currency basket to be simultaneously solved. This makes it easy for those who might participate in arbitrage or balancing of baskets to determine an estimated set of conversions on a multicurrency basket that would result in a specific rebalancing outcome.
We recommend that miners, stakers, and witnesses update as soon as possible and that everyone else updates when convenient.
Thank you dev, v1.2.3-4 is running smoothly on all of my rigs now!
July 14, 2024, 05:56:15 AM
for miketout on discord
Today, I noticed that there was a challenge of a notarization between vARRR and Verus. This was caused by a small reorg on the vARRR chain. As per the protocol, vARRR now needs to prove to the Verus chain that new notarizations are on the correct and most powerful chain for Verus to accept the cross chain notarization. While complete protocol function in challenge cases was tested for years on testnet, we have discovered a check that will treat the protocol differently, depending on the protocol version expected, based on block height. Unfortunately, the block height checked as a threshold is in error, and a vARRR block height is being checked against a Verus block height, which did work in all cases on testnet, but on mainnet is resulting in the proof being rejected. Until this is fixed, which is simple and in progress, but will require a protocol change on Verus, cross chain sends from vARRR to Verus are stalled. The other direction will soon pause as well until this is resolved. We hope to have a version out ASAP with a resolution and a target date for the update to take place. Our current target is a one week upgrade activation with the potential to activate it earlier if the community decides.
Today, I noticed that there was a challenge of a notarization between vARRR and Verus. This was caused by a small reorg on the vARRR chain. As per the protocol, vARRR now needs to prove to the Verus chain that new notarizations are on the correct and most powerful chain for Verus to accept the cross chain notarization. While complete protocol function in challenge cases was tested for years on testnet, we have discovered a check that will treat the protocol differently, depending on the protocol version expected, based on block height. Unfortunately, the block height checked as a threshold is in error, and a vARRR block height is being checked against a Verus block height, which did work in all cases on testnet, but on mainnet is resulting in the proof being rejected. Until this is fixed, which is simple and in progress, but will require a protocol change on Verus, cross chain sends from vARRR to Verus are stalled. The other direction will soon pause as well until this is resolved. We hope to have a version out ASAP with a resolution and a target date for the update to take place. Our current target is a one week upgrade activation with the potential to activate it earlier if the community decides.
July 12, 2024, 06:35:45 AM
Announcing Verus v1.2.3-4 - CRITICAL UPDATE FOR MINERS OR STAKERS ON ALL CHAINS, HIGHLY RECOMMENDED FOR ALL USERS
CLI RELEASE: https://github.com/VerusCoin/VerusCoin/releases/tag/v1.2.3-4
GUI RELEASE: https://github.com/VerusCoin/Verus-Desktop/releases/tag/v1.2.3-4
GUI TESTNET RELEASE: https://github.com/VerusCoin/Verus-Desktop/releases/tag/v1.2.3-4-testnet
Verus v1.2.3-4 addresses an issue that can permit transactions to enter default miner and staker mempools, even if those transactions have underpaid certain expected fees.
This version ensures that miners and stakers will properly enforce the limits for underpaid transactions. It does not have protocol changes.
New CLI command and RPC API in v1.2.3-4 In v1.2.3-4, it is now possible to send an array of conversions, instead of just one, to the estimateconversion CLI command, requesting estimates on multiple different conversions over a single currency basket to be simultaneously solved. This makes it easy for those who might participate in arbitrage or balancing of baskets to determine an estimated set of conversions on a multicurrency basket that would result in a specific rebalancing outcome.
We recommend that miners, stakers, and witnesses update as soon as possible and that everyone else updates when convenient.
CLI RELEASE: https://github.com/VerusCoin/VerusCoin/releases/tag/v1.2.3-4
GUI RELEASE: https://github.com/VerusCoin/Verus-Desktop/releases/tag/v1.2.3-4
GUI TESTNET RELEASE: https://github.com/VerusCoin/Verus-Desktop/releases/tag/v1.2.3-4-testnet
Verus v1.2.3-4 addresses an issue that can permit transactions to enter default miner and staker mempools, even if those transactions have underpaid certain expected fees.
This version ensures that miners and stakers will properly enforce the limits for underpaid transactions. It does not have protocol changes.
New CLI command and RPC API in v1.2.3-4 In v1.2.3-4, it is now possible to send an array of conversions, instead of just one, to the estimateconversion CLI command, requesting estimates on multiple different conversions over a single currency basket to be simultaneously solved. This makes it easy for those who might participate in arbitrage or balancing of baskets to determine an estimated set of conversions on a multicurrency basket that would result in a specific rebalancing outcome.
We recommend that miners, stakers, and witnesses update as soon as possible and that everyone else updates when convenient.
July 10, 2024, 08:57:42 AM
This is a PSA. If you use the Testflight "Verus Wallet" on iPhone, it will be removed from Testflight in 3 days from now. If you have any keys in the Testflight Wallet, please take a few moments to save them and/or get them moved over to the main iOS App Store "Verus Mobile" wallet.
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