From:
https://wiki.veruscoin.io/#!information/verus-welcome.md
Let's take a deep dive in to Verus and LOOK at this high level overview and why its top on my list. ------------------------------------------
The Future Is Now
Here is a collection of information meant to span several platforms and services in order to keep all of us more informed on what’s happening across the growing, world-wide community. It will also help to connect us, allowing us to discuss what’s being worked on, what can be done to help and as a way to look ahead in a more involved way.
Verus, latin for “True”, combines all of the features we believe are important in a cryptocurrency, and provides a foundation for future development. Verus is a fork of Zcash and Komodo that leverages the Komodo platform, and we appreciate the contributions and support from those teams as well as the Bitcoin developers that created a foundation for us to launch new capabilities
in a system that supports Bitcoin and Zcash compatible transaction types as well as Komodo cross chain swaps and dPoW security enhancements.
Verus Coin is a pure technology provider and does not endorse third party projects.
Be your own bank: you are responsible for securing your coins and taking backups.
The VerusCoin Community is YOU!
If you’ve been around long enough and feel a little skeptical or disillusioned from a few bad experiences elsewhere, it’s totally understandable. We’ve all had them and we know quite well that when unscrupulous projects abuse words like decentralization, interoperability, or protocol level solutions, it can have a “boy who cried wolf” effect.
We believe that actions speak louder than words. Anything that may be considered hype can be backed up with functional examples.
What we’re doing here is genuine. We are trying to be the real deal, just as Bitcoin started out, as an open-source, fair launched, no ICO, or pre-mined, or even dev funded project. Despite this, a foundation has been established by and for fellow community members. There is always more to be done and the foundation regularly pays out bounties to community members that help to make the Verus vision a reality. In fact, just about everything has been designed to reinforce the community. Designed with efficiency in mind, only the miners and stakers are rewarded for securing the chains. This ensures bare minimum costs to the end user starting up a chain and the sleek UI removes the technical barrier.
NEW TO VERUS?What we’re about:
Put simply, Verus is much more than any single ordinary blockchain; more of an entire ecosystem of interconnected blockchains that all operate decentralized and at the protocol level. Verus introduces Verus PBaaS (Public Blockchains as a Service), a true publicly notarized blockchain as a service with an easy to use built in wallet UI, designed to make it so that now anyone can start their very own full-fledged cryptocurrency so long as it can be funded or supported by miners.
Newly created chains are just as secure as Verus itself and have the ability to be merge mined (up to 22x at once!)Benefiting both the user and the miners, self-strengthening the ecosystem and ensuring minimal fees (no room for middlemen to take a cut). Reserve backed currencies are also possible with
fractional reserve capabilities and since
interoperability is paramount, exchanging currencies in cross-chain transactions is as simple as sending coins from one wallet to a different coin’s wallet. Conversions are handled by a
built in market maker that automatically determines price based on a predetermined curve and issues orders fairly to all buy/sells within a block, with minimum spread and the added benefit of eliminating the well- established problem of front-running. With reserve currencies, buyers can make buys without even needing sellers (and vice versa).
Amazingly, everything is done at the protocol level on a decentralized network, meaning Verus and it's associated chains can't be censored or stopped.
Getting started:Important links:
Website:
https://veruscoin.ioWallet:
https://veruscoin.io/walletGitHub:
https://github.com/veruscoin/veruscoinExplorer:
https://explorer.veruscoin.ioDiscord:
https://veruscoin.io/discordBitcointalk:
https://bitcointalksearch.org/topic/ann-verus-vrsc-zk-snark-privacy-cpu-mining-5050-powpos-fair-launch-4070404 Max Supply: 83,540,184
Algorithm: VerusHash 2.1 PoW/PoS - 50/50
Block time: 1 minute
Proof-of-Stake (PoS) ROI is currently between 20% and 28%
Halving Frequency: roughly every two years
Next Halving: Current ETA: Mon Sep 14 04:53:40 UTC 2020 (Block #1,278,000)
Halving Countdown: https:/countdown.veruscoin.io/halving
VerusIDVerusIDs are true
self-sovereign identities and aren't simply an
ID system as much as a fully functional blockchain protocol. There is no business in the protocol, but plenty of opportunity for those who use what it can do for identity applications. Verus ID provides:
Quantum ready friendly crypto addresses on the worldwide Verus network -- VerusIDs can be used to receive and send funds, which are controlled by the single or multi-sig addresses specified in the identity itself. If these controlling addresses or the single or multi-sig properties are changed, which can be done by the controller of the identity, all future spends of UTXOs sent to that identity follow the updated spend conditions and are subject to the updated keys. Although Verus 0.6.0 does not include quantum resistant signatures for transactions, VerusIDs are themselves resistant to quantum attack with known algorithms, and we have already started to integrate a quantum secure signature scheme, which we expect to activate on mainnet early next year. When that is available, it will be possible to change an ID and have all of the funds sent to it made retroactively quantum resistant. Verus IDs can also be used to publish ID -> destination address mappings on other blockchains, but only the Verus ecosystem has the ability to revoke, recover, inherit, funds in existing UTXOs.
Fully decentralized -- anyone can create one and have complete, self sovereign control over it without permission to do so. All costs to create an ID go to miners, stakers, and ID referrers.
Revocable -- each ID includes a revocation authority, which defaults to the identity self, and which has the permission to revoke the identity, which creates a valid transaction that, once mined into a block, prevents the identity from being used to spend or sign until it is recovered, effectively freezing all of its funds, for example, in the case of key theft.
Recoverable -- each ID also includes a separate recovery authority, which also defaults to self, and which can recover the identity through redefining its primary state and the recovery state as well, though it cannot modify the revocation state, or vice versa, unless they are both controlled by the same underlying authority.
Private - Each ID contains a set of zero-knowledge private addresses, which can be used as messaging, financial, or voting endpoints, and each ID also contains a content map of key-value hashes, intended to be used alongside applications and various identity policies to provide everything from private yet selectively provable claims and attestations to selectively provable components of a strong passport, attested to with a quantum secure signature when that is available.
A Built-in Decentralized Referral Program, Enabling Natural Growth. Verus IDs will cost Verus to acquire, 100 Verus per ID to be exact, which can be discounted to 80 Verus with referral of an existing Verus ID. The interesting twist is that all of the cost of an ID goes back into the network, either as referral fees, which are a way to get discounts or possibly even make money through referrals and built into the identity transactions themselves, or as mining and staking fees.
No one besides people participating in the network as miners, stakers, or ID referrers take any proceeds from the cost of an identity. If you refer someone new and they purchase an ID with your ID as a referral, they will receive a 20% discount on the ID. In addition:
You will receive 20 Verus directly
The person who referred you, if there is one, will receive 20 Verus
The person who referred person b, if there is one, will receive 20 Verus, and
The miner or staker will receive the remainder of the discounted 80 Verus cost
As you might expect from looking at the fact that anywhere from 20 to 100 Verus goes to miners and stakers of Verus for each new identity once identities hit mainnet, some Verus blocks may have VERY high rewards for some time. The best thing about that is that regardless of how much the Verus blockchain rewards miners over and above the pre-determined coinbase reward, it will be as a result of the on-chain economy, paid for by people buying identities with no inflation of the money supply! If you or your friends missed the early days of the Verus launch, you don't want to miss this new opportunity to be mining, staking or referring now Verus IDs are activated on the mainnet!.
Be a part of it allFocus on Verus’ social media presence has picked up with new, fresh looking Facebook and YouTube channels so check them out and feel free to post something or simply explore the content. There’s so much going on, plenty to learn about.
So much so that there is an open call to anyone and everyone out there who can submit graphical or textual content that can be used to help support the upcoming mainnet launch.
A stronger effort from our already wide base of members to post and utilize social media tools to help spread the word and generate new interested users is something we can all do right now. There is no better time than now and getting fresh new minds in here to discover what is being done is the first step in getting the great snowball rolling. To those of us who truly care and believe in this project, then this message is meant for you.
Looking AheadSince we are on the verge of an historical mainnet release with capabilities that have the potential to revolutionize both the financial and technical sides of fintech and send shockwaves across many industries. There are still lots of things to be done but each day we collectively push closer and closer to making it a reality.
Social Media LinksCheck out the brand new community website, community social media pages, new Veruscoin YouTube and Facebook pages for helpful how to or to just keep up to date with things. Speaking of how to, we can always use more helpful videos if any community members would like to take it upon themselves to chip in. The Medium page also has lots of helpful guides and there’s always something to Tweet about. Be sure to drop by the discord to meet the vibrant and helpful community in real- time, where it isn’t uncommon to find the developers offering assistance. Where else can you find that?
We are all working together to realize something great. If you’d like to join us and be a part of that special something but don’t know how to, it can be as simple as checking out the links below and helping other’s to understand that there’s never been anything in existence quite like Verus, a complete, easy to use, fully decentralized blockchain ecosystem, designed specifically to benefit all participants in one of the most low cost yet efficient in every way, end-to-end systems to date.
Facebook -
https://www.facebook.com/VerusCoin/YouTube -
https://www.youtube.com/channel/UC_-KCHBxaDwSgNMdE3LMThgDiscord -
https://veruscoin.io/discordTwitter -
https://twitter.com/veruscoinMedium -
https://medium.com/@veruscoinReddit -
https://reddit.com/r/veruscoinCommunity website -
https://www.veruscommunity.io/Community twitter -
https://twitter.com/VerusCommunityClosing ThoughtsAs a community project of just regular Joes, it can’t be stressed enough how important each and every one of us all are. The true power of decentralization is putting power back in the hands of YOU.
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WOW
What do you Think?