VerusCoin, Everything that Ethereum Isn't
At ByA few months ago, I accidentally came across a highly underrated cryptocurrency named VerusCoin, and I immediately fell in love with it because of its unique features and the techniques that VerusCoin’s developers used to provide those features.
And in this post, I wanted to highlight the features and technologies that I believe made VerusCoin unique and practical as a cryptocurrency and blockchain platform.
Privacy
VerusCoin is a cryptocurrency specifically developed with privacy in mind, incorporating multiple techniques and technologies to enhance transaction privacy.
For instance, VerusCoin utilizes zk-SNARKs (Zero-Knowledge Succinct Non-Interactive Argument of Knowledge) for its shielded transactions. This allows for transaction verification without revealing critical details like sender and recipient addresses and transaction amounts. As a result, VerusCoin offers greater privacy for its users compared to Ethereum, where transaction data is not sent privately.
Security
VerusCoin stands out from other cryptocurrencies by utilizing a unique consensus mechanism called Proof of Power (PoP). Unlike traditional approaches like Proof of Work (PoW) or Proof of Stake (PoS), VerusCoin combines both methods in a 50/50 ratio. This hybrid consensus algorithm provides enhanced security and significantly reduces the risk of a 51% attack while solving the “Noting at Stake” challenge which is one of the biggest challenges of PoS.
Furthermore, VerusCoin employs the VerusHash algorithm for its Proof of Work component. VerusHash is designed to be ASIC-resistant, meaning that it discourages the use of specialized mining hardware and promotes a more decentralized mining ecosystem.
Verus Vault
VerusCoin addresses the vulnerability of $5 wrench attacks through its Vault feature. This feature enables users to lock their funds, restricting access until a specific time delay has passed. By implementing the Vault feature, VerusCoin enhances the security of users’ funds, preventing unauthorized access even under duress.
Scalable BlockChain
VerusCoin offers PBaaS (Public Blockchains as a Service), which allows users to launch new blockchains without the hassle of provisioning additional resources or setting up infrastructure from scratch. With PBaaS, users can utilize the existing VerusCoin network and infrastructure to create their independent blockchains. These blockchains can be customized with unique parameters, including consensus mechanisms, block times, block rewards, and other specifications to meet specific project requirements.
This blog post is available on my GitHub. If you notice any issues or have suggestions for improvements, I would greatly appreciate it if you could open an issue or submit a pull request for the necessary changes ❤️