Review on VerusCoin by Pedro O. Alvino M.
Privacy project with hybrid consensus mechanism.
Developed from the community, the Verus project was developed without any ICO and premine, where the founders of the project did not have any benefit, in addition to that, the technology it covers is based on payment models, DeFi ecosystem and decentralized identity in the chain .
Composed of a hybrid consensus that works as both proof of work and proof of participation that is destined to maintain decentralization in the network, so that it creates a barrier for pools and mining farms, also if an alteration occurs the hash rate of the network, the 50% PoW and 50% PoS scheme is still maintained. The Verus blockchain enables cross-chain interoperability, where users can transfer external currencies on-chain to the Verus chain, where external currencies are displayed as tokens on the Verus chain.
Despite having limited funds for development, users can generate large profits through the mining of VerusCoin, although the volatility of the currency is relatively high, in addition to that it also grants the function of an identity in the Verus chain, which It is used to manage funds and use for the stake of currencies.
Pros
- Open source project without premine and without ICO.
- Uses a hybrid consensus mechanism for network security and block confirmation.
- Offers privacy technologies based on zk-SNARK
- Provides the creation of fractional coins without programming.
- It has reward programs for mining VerusCoin.
- Interoperable with other chains.
Cons
- The high volatility of the price of VerusCoin may affect the rewards in mining in the Verus ecosystem.
- Little community follows the project.
