VeriumReserve Price (VRM)

VeriumReserve (VRM) describes itself as the first CPU mineable digital commodity. It is a cryptocurrency created to support the VeriCoin blockchain and works as an independent store of value asset. As mentioned on its website, Verium aims to address the issues of blockchain scaling by offering a new variable block-time paradigm that speeds up as the mining power grows. Using the binary chain protocol, a digital currency (VeriCoin) is paired with a digital reserve (Verium) that aims to secure transactions by utilizing complementary protocol technologies into the blockchain system. In simpler words, the overall goal of VeriumReserve is to provide low-cost, secure, and scalable digital transactions.

The primary features that Verium seeks to provide include:

Using the binary-chain model further aims to improve Verocoin’s rapid transactions speeds while also safeguarding Verium’s value store. Its website states that the two specialized chains represent two distinct technologies that, when combined, exponentially improve the best of each. The binary chain model combines Vericoin’s proof-of-stake-time (PoST) and Verium’s Proof-of-work-time(PoWT) protocol into an innovative set of financial tools. Creating an inverse relationship between accepted time and interest rate, the PoST mechanism helps to prevent dishonest users from taking part in the staking activities. This dual model seeks to enable users and merchants to transact, trade, and create entirely on-chain without relying on any third-party solution.

VeriumReserve was founded in 2014 by Douglas Pike and Patrick Nosker.

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