All this hype around Bitcoin and other altcoins and the innovations they are bringing! can’t be ignored. There are many coins already and many more coming out each day from various algorithms. Most of them are just copy-paste, some are even scams, some are just worthless, then there are coins who are the real deal!
Vericoin, A game changer?
I just came across such a coin recently and it didn’t feel good just to keep it to ourselves. Vericoin, which was released last month by a group of three developers have been on the roll lately. Why you ask? It’s because of their unique features which just keep coming. Features like VeriSend, VeriSMS, VeriBit and a VRC (vericoin) to Fiat (cash) conversation wallet keeps it separated from the category of all other coins.
VeriBit: (The Bitcoin Alternate)
This has to be one of the most interesting feature of Vericoin. The survival of any altcoin depends on the community, and their developers try to make their coin accepted at as many stores/retailers as possible to help the community make out the best use of coins. Most coins fails to achieve a good number of retailers while the rest are totally ignored. Well it’s not the case with Vericoin. Whether a store/retailer accepts VRC or not, if they accept Bitcoin (one of the most popular crypto-currency) they accept Vericoin, even if its indirectly.
How VeriBit Works??
What VeriBit does is instantly exchange your Vericoins into Bitcoins (in background) without the hassle of going through any third-party exchange. You just put the payment address generated for you in BTC (Bitcoin) in the VeriBit’s pay-to column, enter the BTC amount and it’s all done. it will deduct the number of Vericoins equal to that of in Bitcoin payment from your wallet. below is a demonstration done by me showing how it really works (pardon my accent)
VeriBit might be one of the most interesting ideas the developers came up with, but that doesn’t mean they’re going to drop the basic features. One basic concept of any crypto*currency is the anonymity of its user. Though according to the Devs, not many people are concerned about anonymity, but just to make up for the rest of the people, they’ve introduced VeriSend feature. Currently not in the wallet, but on their website, what it does is scramble up the amount provided from your wallet, route through the network and return the amount with a fee, decreasing the chance of detection (but not completely).
The developers are planning to bring the coins to the mass public by the use of VeriSMS. VeriSMS is a network created for VRC on texts (mobile phones) where one can create a wallet and send and receive VRC anywhere in the world just by using a set of three commands in a text message. As of now this feature is in alpha stage and only a limited countries are able to use it, but once its perfected and gone global, it can affect many lives who have to go through transaction problem around globe.
Fiat To VRC Wallet:
you read that correct, VRC developers are working on a feature that would exchange your VRC directly into fiat (cash) and opposite, and planning to integrate it directly in the wallet. Though not many information have been given out on how this feature would work, but we’ve reached out the developers, so expect more info soon.
Well all this doesn’t really sum up the whole coin but that’s basically what you needed to know, that Bitcoin now have a alternative and with much potential. We hope to hear more interesting news from the developers team soon as the new version of wallet for the coin is going to be released soon.
Let us know what you think of the features introduced by the Dev team, how can it affect the altcoin market? By the way we would be doing a series of mining tutorials so stick around.
For more information: http://www.vericoin.info/
Hi, I’m Ahmed Kazim and I’ve been a gaming freak since like 7-8. I’m also a geek-o-nerd who keeps looking around for latest development in hardware/tech/gadget industries so expect some quick news from me. I’m also interested in anime (Japanese animation) and can’t stand a day without music and gaming.