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Topic: [ANN][VRC] VeriCoin Proof of Stake-Time Currency | New Roadmap Released - page 67. (Read 1356140 times)

legendary
Activity: 1092
Merit: 1000
Hyperspace snail
What is the latest update on the ICO? It seems end in few days/hours. Did you get word from any exchange? What are your initiatives for VRM after ICO?

A brief overview of current development plans:

-Once the ICO ends, we can prepare the mainnet and mine the correct required VRM from the ICO.
-Then after the ICO funds are mined, we will run the mainnet privately with a block reward of zero until all the ICO funds are sent to their respective addresses
-After all the funds have been disbursed we will open the mainnet up to the public and start the blocktime-dependent reward scheme.
-Then mining will begin
-We will be working with either poloniex, bittrex or both to support a VRC/VRM market pair.  The VRM/BTC pairs will be up to the exchanges to add at their own discretion.
-Once this market pair is up we will add VRM/VRC swap functionality to the Verium and VeriCoin wallet.
-After the Verium network has stabilized we will release a new VeriCoin wallet that accepts Verium blocks as part of it's consensus, then as Verium picks up steam so too does the currency in security, transaction speed and scalability.
legendary
Activity: 1092
Merit: 1000
Hyperspace snail
hero member
Activity: 658
Merit: 500
full member
Activity: 210
Merit: 100
hero member
Activity: 658
Merit: 500
v-whatever you want they're all shit and going NOWHEEEEEEEEEEEEEEEEEEEEEEEEEEERRRRRRRRRRRRRRRRRRRRRRRREEEEEEEEEEE

Hey how's WBB going for ya? Oh yeah nooooooooooooowheeeeeeeeeeeeeeeeerrrrrrrrrrrrrrrrrrrrrrrrrrrrrrreeeeeeeeeeeeeee eeeeee Roll Eyes

hey monkey oh shit you got me bro.  hey i didn't bring it up, you did.  i guess you don't like wbb, that's cool.....must suck you don't want to be a part of something huge that's actually GOING to see results and make ppl money lol.  i been buying since it was fucking peanuts and am up in the hundreds of %....damn i'm crying! lmao.  Roll Eyes - hrm, price is way up, it doesn't dump and the tech is improving monthly.   lol it has 10x more going for it than veri-any-fucking-thing since veri got fucked over a year ago bigtime and cannot recover, thus this 'new plan' for VERICUM oh wow....look another means to offload vericoin and get more suckers btc.  sad but sure, go for it. lol!

Your so clever Roll Eyes

VERICUM....lol we may need to higher some porn stars to advertise with our marketing budget, maybe we can shoot a VERICUM porno.  Actually you know what I want you in the porno! Whats your lowest number? $50? You do bare back? I will pay you in Wilderness Homobear Bucks, it'll be great!

Hey guys! We're making a porno!!!
legendary
Activity: 2730
Merit: 1068
Juicin' crypto
v-whatever you want they're all shit and going NOWHEEEEEEEEEEEEEEEEEEEEEEEEEEERRRRRRRRRRRRRRRRRRRRRRRREEEEEEEEEEE

Hey how's WBB going for ya? Oh yeah nooooooooooooowheeeeeeeeeeeeeeeeerrrrrrrrrrrrrrrrrrrrrrrrrrrrrrreeeeeeeeeeeeeee eeeeee Roll Eyes

hey monkey oh shit you got me bro.  hey i didn't bring it up, you did.  i guess you don't like wbb, that's cool.....must suck you don't want to be a part of something huge that's actually GOING to see results and make ppl money lol.  i been buying since it was fucking peanuts and am up in the hundreds of %....damn i'm crying! lmao.  Roll Eyes - hrm, price is way up, it doesn't dump and the tech is improving monthly.   lol it has 10x more going for it than veri-any-fucking-thing since veri got fucked over a year ago bigtime and cannot recover, thus this 'new plan' for VERICUM oh wow....look another means to offload vericoin and get more suckers btc.  sad but sure, go for it. lol!
full member
Activity: 210
Merit: 100
VeriCoin has 11 Votes, looking good, let's show some more support to get us with the top 5 coins on this list.

Vote for VeriCoin!

https://bitcointalksearch.org/topic/top-ten-altcoins-1585697
hero member
Activity: 761
Merit: 505
VeriCoin & Verium Creator/Developer
Hi guys, here is the Blocktime calculation breakdown:

The blocktime is dependent on the difficulty.  The difficulty in Verium is an automatically adjusting exponential factor that is dependent on the difference between the actual blocktime and the targeted blocktime.  So as computational power grows the blocktime speeds up and the difficulty adjusts exponentially to match the computational power to the target blocktime.  In Verium however, the target blocktime is also changing, so this ends up smoothing the effective difficulty. The difficulty and the variable blocktime are a counterbalance to one another, resulting in a more organic, smooth and incremental difficulty adjustment as the computational power grows. This can greatly extend the profitability of CPU mining combined with the reward adjustment scheme.  Additionally this can potentially decrease incentive for pooling, because solo-mining can be more profitable and result in a more predictable return on time devoted to solo-mining.

Another key factor is the security enhancement of this variable blocktime paradigm.  Any competing chain that has less computational power will calculate a slower blocktime for it's chain, this results in nodes reconnecting automatically to the chain with the largest block height, which will always have the most computational power and fastest calculated blocktime.  So there is no risk that the longer chain has less power and the computational power consensus is always maintained in totality.

The blocktime calculation is logarithmic so to better intuit how this works, I've plotted it both linearly and logarithmically.  As you can see, as the consensus is getting off the ground it quickly speeds up and dampens difficulty, but dampens it only as the security is acceptable for such an effect.  It can also slow in the case of a reduced computational power.

The blocktime is calculated with this equation:
blocktime (sec) = -13.03*log(difficulty)+180

hero member
Activity: 658
Merit: 500
hero member
Activity: 659
Merit: 500
Zepher is scammer!:)
When is the Verium phrase 2 ICO ending?
the same question.. Smiley
sr. member
Activity: 266
Merit: 250
full member
Activity: 210
Merit: 100
Vote VeriCoin on top 10 list of AltCoins

https://bitcointalksearch.org/topic/top-ten-altcoins-1585697

Show some VeriCoin support
hero member
Activity: 658
Merit: 500
v-whatever you want they're all shit and going NOWHEEEEEEEEEEEEEEEEEEEEEEEEEEERRRRRRRRRRRRRRRRRRRRRRRREEEEEEEEEEE

Hey how's WBB going for ya? Oh yeah nooooooooooooowheeeeeeeeeeeeeeeeerrrrrrrrrrrrrrrrrrrrrrrrrrrrrrreeeeeeeeeeeeeee eeeeee Roll Eyes
legendary
Activity: 2730
Merit: 1068
Juicin' crypto
v-whatever you want they're all shit and going NOWHEEEEEEEEEEEEEEEEEEEEEEEEEEERRRRRRRRRRRRRRRRRRRRRRRREEEEEEEEEEE
hero member
Activity: 658
Merit: 500
sr. member
Activity: 266
Merit: 250
When is the Verium phrase 2 ICO ending?
hero member
Activity: 658
Merit: 500
Volume picking up again and driving more Vericoin into the ICO. Looks like we will have an interesting final days to the end of the Verium ICO.
hero member
Activity: 659
Merit: 500
Zepher is scammer!:)
Not saying it'll actually reach 3.5 million, but maybe at the least 2 million, leaving more to mine of Verium.
So what actually happen after 4 days- is that vericoin changed name to verium? Or I misunderstood something..? Huh

No their consensus will be paired and run side by side, checkout first page.
Ok, thanks! Wink
hero member
Activity: 761
Merit: 505
VeriCoin & Verium Creator/Developer
Not saying it'll actually reach 3.5 million, but maybe at the least 2 million, leaving more to mine of Verium.
So what actually happen after 4 days- is that vericoin changed name to verium? Or I misunderstood something..? Huh

No their consensus will be paired and run side by side, checkout first page.
hero member
Activity: 761
Merit: 505
VeriCoin & Verium Creator/Developer
Hey guys we are putting the finishing touches on Verium, it's running great in testing.  Here is the block reward scheme which is dependent on the blocktime.  It is approximately a reward halving per minute decrease in the target blocktime, via this equation:

Reward = 0.375*exp(0.0116*BlockTime)

This way as the security and performance of the blockchain increases, so too does the cost of creation; but only if the computational power increases, not on a fixed schedule.  Thereby securing the value enhancing properties of a scarce commodity that is imbuing value on the ecosystem, while keeping mining relatively profitable in bear markets, or higher mining cost phases.  The minimum blocktime for Verium will be 5 seconds and the maximum will be about 5.5 minutes.



Next I will post the formula for quantifying blocktime.

That's a really interesting way to determine block rewards.  Are there any other coins that have tried variable rewards tied to block times or is this a first?  

Thanks, it is very interesting.  Yeah this is a first.
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