Vereum ICO — The New Ethereum

https://vereum.io — previous name (veriumcoin)

Blockchain technology is not a singular aspect that can be defined on its own. Instead, it is a combination of three different technologies through the use of algorithms. These are the cryptographic keys, the shared ledger in a distributed network and the incentives to ensure that crucial services are maintained. The ingenuity of blockchain is that it combines these three to form a network that requires little or no third-party input to maintain the security and transparency of the network.

Blockchain technology has the potential to solves most of the problems that businesses face currently. These problems include:

1. Insecure transactions. Many businesses are at risk of hackers stealing their customer’s money or personal information. Blockchain technology is an effective solution because the cryptographic encryption prevents hackers from breaching any of the networks.
2. Transparency in transactions. Fraud is one of the greatest problems that customer and businesses face. Fortunately, blockchains use a distributed ledger, meaning everyone can view and validate the transactions being made. This prevents both internal and external fraud from happening.
3. High transaction costs. The centralised model for business has a high cost. Employees have to be paid, and the databases need to be maintained. However, blockchain-based platforms replace this with smart contracts and algorithms that fulfil the same obligations. This reduces the cost. The lower costs are passed on to the customers.

It is clear that blockchain technology offers multiple benefits for businesses. Experts predict that around 19 industries will have partially adopted blockchain technology by 2020 while an additional 30 will have fully adopted blockchain technology in some form by 2030. It is important for businesses to start considering the shift from the conventional way of doing business so that they can gain a competitive advantage.

Statement of the problem

The business community has responded by slowly adopting blockchain technology. Some businesses are using smart contracts and Dapps to automate some of their tasks or transactions while others are fully adopting blockchains to secure their industries. The biggest challenges to the growth are the limited options and the scalability problem in the industry.

When it comes to limited options, most businesses that want to adopt blockchain technology must choose between either using the Bitcoin Core, the Ethereum Virtual Machine, Waves or one of the smaller Mainnets to layer their blockchains. A challenge they face is the complexity of using some of these blockchains. The Bitcoin Core may be robust, but it is somewhat restrictive when it comes to features. Scripting is difficult even when you want to add new features.

The most popular is Ethereum because it has smart contracts and Dapps that are easy to adopt. However, there has been an influx of businesses using the Ethereum solution leading to scalability issues. Recently, the Ethereum blockchain started to have bottleneck problems when the crypto kitty game was introduced. This slowed down the speed of transactions considerably. Additionally, Ethereum is not a purely open-source blockchain. Unlike Bitcoin, Ethereum is controlled by Vitalik Buterin and his team while Chris Larsen and his development control Ripple. This means that the decisions on the direction of the firm are not determined by the community. The last say is in the development teams.

This means that there is a gap in the industry for a blockchain Mainnet that is fully open source while providing the functionality of smart contracts and Dapps for businesses that want to adopt blockchains or create their cryptocurrencies.

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The VeriumCoin Solution

What is Verium?

Verium is an open blockchain platform that lets anyone build and use decentralised applications that run on blockchain technology. Like Bitcoin, no one controls or owns Verium — it is an open-source project built by many people around the world. But unlike the Bitcoin protocol, Verium was designed to be adaptable and flexible. It is easy to create new applications on the Verium platform, and with the Veriumjelly release, it is now safe for anyone to use those applications.

What is verium VMC22 and Verium Jelly?

VMC22 is a cryptocurrency algorithm based on veriumjelly VMC22 coins are all based on the veriumjelly technology and can be adopted by anyone. It shares one API that can be modified by anyone that uses Verium to build applications and coins. This API will also be given to major exchanges, and you can share the public API to any website so your coin built with VMC22 technology can be shared with everyone, and they can start accepting your payments anywhere on the web or even implement your coin to your website.

All of the applications and coins that are built on the VMC22 technology are 100% decentralised, how do we know that they are decentralised? Because all code is 100% open source and you can review it on GitHub for yourself, however, people can modify their coins however they wish so you must do your research before using a coin built by anyone on the Verium platform. Veriumjelly is an update to the Verium platform. It includes faster node sync and bug fixes (update: veriumjelly is stable to use) We have been testing veriumjelly for 3 months before our ICO to ensure a smooth launch of our platform and coin.

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Can i fundraise my idea using my VRM coin?

Absolutely, YES! We have no control over what you do with your coin, you set the name, abbreviation, supply and our system will have your coin ready instantly, no programming knowledge, no waiting time and small fees (all fees are in VRM) with VMC22 you can build any application not just coins.

Features of the Verium platform

Product features

The Verium platform aims to provide easy to use blockchain solutions for businesses and entrepreneurs. The platform has some specific features that will endear it to enthusiasts in the industry. They include:

1. A fully open source platform

Verium is a fully open source platform. Like Bitcoin, it is not controlled or owned by anyone. The development team only oversees the development during its infancy, but the main goal is to ensure that it becomes a fully open source community. This means that the needs of the users will always come first.

1. Flexible and adaptable

The Bitcoin Core’s main disadvantage is the rigidity. It is a barebones blockchain where the features are limited. Additionally, the introduction of features is a lot more complicated because of Scripting. Verium is different because it is a flexible blockchain where changes can be easily made. It is also adaptable enough to change. This makes it easy to create new smart contracts and applications on the Verium platform.

1. A secure and integrated e-wallet

The Verium platform has an e-wallet that can be used to store ETH and VeriumCoin securely. Though, it also enables the creation of new crypto-assets on the Verium blockchain. You can create, deploy and use smart contracts on the Verium platform with ease. The tokenised crypto-assets can be used to represent anything.

1. Decentralized Autonomous Organizations

The next evolution of blockchain technology is the adoption of decentralised autonomous organisations (DAOs). These are organisations that are fully decentralised in their creation and management. Verium will make it easy for the creation of these firms by allowing smart contracts and Dapps to be created for the running of these DAOs.

1. Creation of complex Dapps

The biggest challenge when it comes to the creation of DAPPs is that most blockchains give developers a set of pre-defined operations. This limited the functionality of the DAPPs as well as the complexity that they can have. However, Verium is fully programmable offering developers an opportunity to create whichever DAPPs they want. These DAPPs are not limited to cryptocurrencies. This means that any business can create a DAPP that can help improve the functionality of the business while enjoying the benefits of blockchain technology.

Technical Aspects

The Verium blockchain is a Mainnet that is unique. It is not reliant on any other blockchain. These are some of the technical features of the Verium blockchain.

1. Language

The Verium blockchain relies on Jelly programming language. This is a high-level language that requires Python 3. NumPy and SymPy for interpretation. It is easy for anyone with knowledge of Python to learn how to code in Jelly. Developers can learn Jelly through the online tutorials offered by Verium. This will allow them to create smart contracts and DAPPs on the Verium blockchain.

Installing Verium on Ubuntu

The full guide on how to install your Verium based coin on your Linux and ubuntu machine can be found here: http://veriumcoin.co/veriumjelly.html

Compiling your Verium based coin

Let’s start off by updating your Linux machine. Before you start this guide, you must have your vmc22 coin source code you can obtain this by creating a token from your dashboard page on the Verium console. You must have Verium coins to create your coin based on the VMC22 system.

Let’s start. You can compile a daemon for Ubuntu 16.04 using the following instructions. Update your Ubuntu machine.

[sudo apt-get update

sudo apt-get upgrade]

Install the dependencies to compile from source code.

[sudo apt-get install build-essential libssl-dev libdb-dev libdb++-dev libboostall-

dev git libssl1.0.0-dbg

sudo apt-get install libdb-dev libdb++-dev libboost-all-dev libminiupnpc-dev libminiupnpc-dev libevent-dev libcrypto++-dev libgmp3-dev]

Create a directory for the source code. (To be continued on the next page)

[mkdir source_code

cd source_code]

Download the source code from the dashboard. Important: replace “examplecoin” with the name of your blockchain. Extract the tar file using the following command.

[tar -xzvf examplecoin-source.tar.gz

Go to the src directory

cd src]

Execute the following command to compile the daemon.

[make -f makefile.unix RELEASE=1]

The compiling will take about 30 minutes depending on your system.

Your compiled daemon named veriumjelly-examplecoind can be found in the src folder when compiling is finished.

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VeriumCoin ICO

Why should I invest in the Verium ICO?

Verium coins are fuel for the Verium platform. You will need Verium coins to create your decentralised applications and coins based on VMC22 technology. The supply of Verium coins will rise, and you will be able to make a profit from the purchase you make during the Pre-ICO and ICO period.

How will the price rise? Each time someone uses the network, they will pay a fee in VRM coins this will return to the network to keep it stable and fast leaving less supply of VRM coins resulting a higher price. Not only that, VRM coins will be exchanged on major exchanges including our own resulting in a higher price of a VRM coin.

Verium is a programmable blockchain. Rather than give users a set of pre-defined operations (e.g. bitcoin transactions), Verium allows users to create their operations of any complexity they wish. In this way, it serves as a platform for many different types of decentralised blockchain applications, including but not limited to cryptocurrencies.

Phases of the ICO

The ICO will be subdivided into four main phases. The first is the Pre-ICO where 20 million VRM coins will be available for sale at a price if $0.05. This will be the biggest discount. This shifts to the 1st Phase of the ICO where 25 million VRM coins will be available at $0.22 per coin. In the second phases of the ICO, 25 Million VRM will be available at the cost of $0.35per coin. In the 3rd phase, there will be another 25 million VRM coins available, but this will cost $0.44 per coin. The total amount that the ICO aims to raise is $21,200,000. This is the hard cap.