What Is VerusCoin (VRSC)?
VerusCoin (VRSC) is a reliable public infrastructure and an open-source, decentralized blockchain platform built for the entire world. According to its whitepaper, the protocol provides blockchain tools for developers and associations to create products, services, and systems without paying rent. The VerusCoin network uses proof-of-work (PoW) and proof-of-stake (PoS) as its consensus mechanism. In addition, the multi-chain protocol benefits miners and stakers of the worldwide network with aligned incentives. The VerusCoin aims to provide an opportunity to earn with the following functions:
Accessibility: VerusCoin makes blockchain technology available for everyone.
Scalability: The platform acquires unlimited scalability via Public Blockchains as a Service (PBaaS).
Security: VerusCoin carries blockchain security to the next level.
Interoperability: VerusCoin allows a world where all blockchains interact with each other.
Community: The VerusCoin network is a community-driven project.
The VerusCoin network is intended to solve the two problems of proof-of-stake (PoS); there is nothing at Stake and Weak subjectivity. Nothing at Stake is the issuance of security to the validators, through which they can earn incentives for mining on every forked blockchain.
VerusCoin has resolved the problem of Nothing at Stake and simultaneously removed Weak Subjectivity. Hence, the innovative progress in the Verus blockchain is pulling out some incentives to cheat and make it a losing bid.
VRSC is a native token of the VerusCoin platform. A VRSC token is powerful and helpful in servicing the economy. The token is utilized in the following processes:
Payments: VRSC token is used for affordable, quick, and final payments.
Staking: Anyone holding a VRSC token can begin staking and earn.
VerusID: VRSC tokens are paid to the protocol for VerusID creation.
Blockchains: The VRSC token is used to create interoperable blockchains.
History of VerusCoin (VRSC)
Mike Toutonghi founded the VerusCoin (VRSC) platform. He also serves as its lead developer. The protocol was launched on 21 May 2018, and the token's maximum supply is 83,540,184 VRSC tokens.
