Verum Coin (VERUM) is a digital cryptocurrency designed to offer decentralized financial transactions through blockchain technology. It is built on the native blockchain that called Verum Chain.[1][2][3][4]
| Denominations | |
|---|---|
| Code | VERUM |
| Development | |
| White paper | Verum white paper |
| Initial release | 2022 |
| Development status | Active |
| Ledger | |
| Circulating supply | 84,000,000 |
| Supply limit | 1,000,000,000 |
| Website | |
| Website | https://verumcoin.info |
History
editVerum Coin was launched in early 2022 by the BitCoinPay Trade[5] team to address inefficiencies and scalability issues found in earlier cryptocurrencies like Bitcoin. It operates on a Light Proof-of-Work (LPoW) consensus mechanism optimised for high transaction throughput and rapid block generation.[1][6]
Products
editIn June 2024, the company launched the Verum Pay solution to integrate the VERUM digital asset as a payment tool into E-SIM, VPN, and other native products.[7][8] According to the official statement, the Verum Coin ecosystem is expanding its product offering by launching Verum Pay, which integrates Verum Coin as a payment method within the Verum E-SIM and Verum VPN mobile applications.[9][10] This payment functionality has also been extended to eight other eSIM applications, including World E-SIM, E SIM Africa, Balkan E-SIM, Canada E-SIM, Euro E-SIM, London E-SIM, Ukraine E-SIM, and USA E-SIM.[8] The company has secured agreements to integrate this merchant system into other projects, promising further expansions and enhanced utility of Verum Coin. Besides native E-SIM and VPN solutions, the ecosystem features Verum Messenger, a messaging app with end-to-end encryption designed to provide secure and anonymous communication.[11][12][13]
Criticisms
editDespite its advantages, Verum Coin faces several challenges. The Proof-of-Work (PoW) consensus algorithm traditionally used in cryptocurrencies like Bitcoin has been criticized for its environmental impact. The PoW algorithm requires large amounts of electricity, often produced by burning fossil fuels, which emits carbon dioxide and other greenhouse gases that contribute to climate change.[14]
However, Verum Coin employs a Light Proof-of-Work (LPoW) consensus mechanism, which significantly reduces the energy required for mining. This optimized approach aims to maintain high transaction throughput and rapid block generation while minimizing environmental impact.[14]
References
edit- ^ a b "Exploring Verum Coin: What You Need to Know About Its Technology And Ecosystem". International Business Times UK. 20 June 2024.
- ^ "New Cryptocurrency Releases, Listings, & Presales Today – BlockDrop, Vatra INU, Verum Coin: Guest Post by Inside Bitcoins | CoinMarketCap". coinmarketcap.com.
- ^ "Verum Coin and Verum Token: A New Stage of Development Based on Verum Chain Network". mnews.world.
- ^ "Прогноз цены на Verum Coin: Инвестиционные перспективы на 2024-2030 годы – Daily Media" (in Russian).
- ^ "Forbes magazine lists Verum Coin as a digital asset". mnews.world.
- ^ "Invest in the Future with Verum Coin: Why It's Worth Your Attention? – The Money Times". 12 July 2024.
- ^ "Verum E-SIM: ваша мобільна свобода без кордонів – Ukraine Times" (in Ukrainian).
- ^ a b "Verum Coin Ecosystem Launches Verum Pay Solution Integrated With Native E-SIM and VPN Products". U.Today. 19 June 2024.
- ^ "One Tap: Verum Mobile Apps Update Simplifies eSIM Installation". mnews.world.
- ^ "Freedom Online: How Verum VPN Helps Ensure Access to Information Amidst Censorship". timesnews.io.
- ^ "Verum Messenger: The New Gold Standard in Secure and Convenient Communication". mnews.world.
- ^ "Exploring Verum Messenger: A New Frontier in Secure Communication". mnews.world.
- ^ "Новое поколение мобильного интернета с Verum E-SIM | Gazeta Media" (in Russian). 11 December 2023.
- ^ a b Salam, Erum (26 April 2023). "Bitcoin is terrible for the environment – can it ever go green?". The Guardian.