Written by artist on March 27, 2021

What is Verus?

Verus is an open-source cryptocurrency forked from the Komodo blockchain. The Verus Project aims to establish a secure, privacy-centric, fairly-distributed cryptocurrency. The verus blockchain is a Public blockchain as a service (PBAAS) that can be used to develop tokens. This makes verus the ethereum of a bitcoin fork/blockchain.


Algorithm


The verus chain has developed a Proof of Power algorithm also known as VerusPOP. This algorithm (consensus algorithm) is a fusion of both Proofs of work and stake. Both of these algorithms are equally split to create POP (Proof of Power). This algorithm is developed for the sole purpose of creating verus a fair network economy, helping both miners and stakeholders to get incentivized.

Verus uses the UTXO paradigm which is also used by the komodo platform. The UTXO model deduces double-spend attacks. Verus uses komodo's delayed proof of work algorithm so every block generated is constantly being notarized. Proof of power also allows the hash rates to remain constant as the ratio of both Pow and Pos remains 50/50. The 51% attack on a verus blockchain is highly unlikely to happen.

Features and Privacy

Here are some technical traits of Verus blockchain:

  • Verus Hash and Proof Of Power
  • Verus ID
  • Public Blockchain as a service (PBAAS)
  • Verus and DEFI
  • Privacy
  • Bridges

The biggest showcase of verus is zero-knowledge privacy. This protocol is the most modern and cutting edge technology available for anonymous and privacy-centric information interchange.

Verus uses the zk-SNARKs protocol which is developed by the Zcash blockchain. The Komodo platform is a Zcash fork and verus is a komodo fork so indirectly verus can also be called a Zcash fork or an extension.

This protocol allows a transaction between prover (sender) and verifier (receiver) without any interaction. These transactions are accomplished without contradicting the natural rules of a blockchain. Verus has implemented this protocol astonishingly well than any other cryptocurrency.

“Zero-knowledge” proofs allow one party (the prover) to prove to another (the verifier) that a statement is true, without revealing any information beyond the validity of the statement itself. For example, given the hash of a random number, the prover could convince the verifier that there indeed exists a number with this hash value, without revealing what it is.

You can connect with the verus community through discord. If you are a developer you can check and contribute in the codebase.

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to Top
Experience Crypto
© 2021 komodefi.com. Powered by Komodefi
chevron-down