VeriCoin is purely a digital currency that runs on its own unique protocol, Proof of Stake Time (PoST).
VeriCoin transactions are nearly instant (currently 10x faster than Bitcoin); however, with the upcoming binary chain pairing VeriCoin with Verium Reserve, network transaction speeds will increase exponentially.
Proof-of-Stake time rewards investors for paying them variable and compound interest on the coins held in their wallets in exchange for the process of getting Vericoin's digital wallets open and running on computers, a process known as " mortgage". In contrast to Bitcoin's Proof-of-Work (PoW) protocol, which requires a lot of electricity when new coins are mined, using VeriCoin to pay interest is how new VeriCoins are minted. Staking is incentivized by paying interest to validate transactions on the VeriCoin network. This allows anyone with an Internet connection, including the world's unbanked and underserved, to access a decentralized financial network to transfer and receive money in seconds.

1. Verium digital goods

Verium Reserve (VRM) was created as an innovative and independent store of value assets in addition to supporting the VeriCoin blockchain. Veriums has a unique protocol PoWT (Proof of Work) that solves the blockchain scaling problem by introducing a new variable block time paradigm that accelerates network transactions as mining power increases. Variable block times allow Verium to scale automatically while increasing transaction processing speed and network capacity to ensure high network security at any level of mining throughput. Verium will also process VeriCoin blocks by linking the binary chain with Verium's Assisted Mining Protocol (AuxPOW). This symbiotic protocol will reduce VeriCoin block times to less than 30 seconds. These technologies enable VeriCoin's network to provide an efficient and scalable system for consumer transactions far beyond current standards.

2. The relationship between Verium and VeriCoin

VeriCoin (VRC) and Verium Reserve (VRM) are the first dual blockchain protocols to pair a digital currency (VRC) with a digital commodity (VRM), forming a cohesive blockchain using a unique protocol called a binary chain Decentralized financial system.

Current digital currencies (Bitcoin, Litecoin, Dash) face the impossible task of being both fast money and a store of value. VeriCoin and Verium solve this problem by merging complementary protocols called binary chains. Vericoin's Proof of Time (PoST) and Verium's Proof of Work Time (PoWT) protocols utilize complementary technologies to form a symbiotic and advanced dual-blockchain ecosystem that can not only greatly improve network security, but also exponentially speed up transaction times. The novel pairing of advanced dual blockchain technology has been dubbed VeriConomy.

By building a consensus-paired digital ecosystem, currencies (VeriCoin) can scale to mass use and keep prices extremely low, and reserves (Verium) can scale while stabilizing value by increasing supply costs.

Third, Binary Chain - Proof of Work + Proof of Equity - Matching by Design

1. Pairing Advantages
By establishing a consensus paired digital ecosystem, currency (VeriCoin) can be scaled to mass use and keep prices extremely low, and reserve goods (Verium) can be scaled , while stabilizing the value by increasing supply costs.

2. Increased speed and security
Through AuxPoW, VeriCoin accepts blocks from Verium miners. This further decentralizes VeriCoin while increasing security and transaction speed. VeriCoin costs are kept extremely low, while Verium Miners earn higher fees.

3. Economically Sound
VeriCoin (digital currency) and Verium (digital reserve commodity) aim to do what global markets did for centuries before FIAT. Separate money and commodities, but pair their supplies.

Related links:
https://wiki.vericoin.info/index.php?title=VeriCoin_%26_Verium
https://vericoin.info/