What is VerusCoin (VRSC)?
VerusCoin (VRSC) is the native token of Verus. Verus is a free and open-source Layer 0/Layer 1 blockchain protocol. The platform is designed for privacy, safety, open participation, and unlimited scalability.
To ensure integrity and impartiality, Verus is supported by a worldwide community of contributors, including a non-profit foundation. The protocol combines the latest in cryptography, including zero-knowledge privacy, to realize its vision of Public Blockchain as a Service (PBaaS).
Verus allows any individual or organization to create a recoverable, self-sovereign identity, own their data, and build as well as run apps and business software on any PC or mobile platform. Users can also create tokens and currencies on top of blockchain networks for any use case. The protocol also enables users to get funding and create markets with built-in DeFi at the protocol level.
Verus introduces a new consensus mechanism called Proof-of-Power (PoP), a hybrid of Proof-of-Work (PoW) and Proof-of-Stake (PoS). By averaging to a desired percentage of blocks being validated by each type of evidence, validators can use PoP to validate each block using either PoW or PoS. Besides, due to the use of PoP, Verus is one of the most double-spend-resistant public blockchain networks currently available since it can withstand 51% of hash attacks.
VerusHash 2.0, a quantum-resistant hashing technique that spans the performance gap between CPUs, GPUs, and FPGAs, is also used in the protocol. The project's goal is to automate blockchain provisioning with PBaaS using Verus miners and stakers.
Use Cases of VRSC
For starters, holders of VerusCoin tokens can stake their assets to earn mining rights. Stakers and miners receive rewards for protecting the network. The more VerusCoin crypto you own, the more mining power you have.
VRSC is also used to power polls, votes, and elections using autochains. The autochains can be temporary or durable.
The token is also listed on some popular exchanges, so it can be traded. However, investors should research the VRSC price before buying or selling the tokens. The VerusCoin price may vary since it is a volatile asset. The live chart above shows the VRSC price history as well as the current token price.
Who Founded VerusCoin?
VerusCoin was created by a team of experts led by lead developer Michael Toutonghi. Toutonghi was the former vice president and technical fellow at Microsoft. He is a recognized founder and architect of Microsoft's .NET framework, an ex-Technical Fellow of Microsoft’s advertising platform, and an ex-CTO, of Parallels Corporation. Toutonghi is also an experienced distributed computing and machine-learning architect.
Tokenomics of VRSC
VerusCoin had a 100% fair launch, with no ICO or pre-mine. The token has a maximum supply of 83,540,184 VRSC. VRSC is designed to halve after every two years. Halvening regulates the number of tokens released to the ecosystem, to balance demand and supply. It protects the VerusCoin price.
