Launched on May 10th, 2014, VeriCoin is a Proof-of-Stake Digital Currency that features VeriBit, VeriSend, VeriSMS and a variable interest rate which fluctuates depending on how many coins other users are staking. As more coins are “staked” and support the network, the interest rate climbs.
VeriCoin is also the first altcoin to be accepted by merchants, anywhere Bitcoin is accepted. Any merchant or service that accepts BitCoin as payment can automatically accept VeriCoin via VeriBit. Along with active, transparent developers, unique features and an ambitious Community VeriCoin is looking to change the way people transfer value or “money” to one another.
Building upon both Satoshi Nakamoto’s legacy and Sunny King’s extremely brilliant yet different approach to BlockChain Technology VeriCoin is determined to help complete the idea of a light weight, fairly distributed, secure Digital Currency. Be your own bank.
Proof-of-Stake Time. Details coming soon in White Paper.