Verus

VRSC Price

About Verus (VRSC)

Verus is a decentralized Layer 1 blockchain protocol designed to provide a secure, scalable, and privacy-preserving infrastructure for digital identity, currencies, and data operations without relying on external smart contracts.

• Utilizes a unique Proof of Power consensus mechanism that combines 50% Proof of Work and 50% Proof of Stake to enhance security and resistance to 51% hash attacks.
• Features a protocol-level approach to decentralized finance (DeFi) and identity, where operations are blockchain primitives rather than custom smart contract code.
• Enables horizontal scalability through Public Blockchains as a Service (PBaaS), allowing the launch of interoperable blockchains that scale the network's capacity.

What Is Verus

Verus aims to build an "Internet of Value" where users maintain full sovereignty over their identity, data, and assets. It distinguishes itself by moving away from the traditional smart contract model, instead implementing core functions like currencies and DeFi directly into the protocol's consensus layer. This approach is intended to eliminate the vulnerabilities associated with custom code exploits and unpredictable bugs found in complex contract logic.

Value movement within the ecosystem is facilitated through the native VRSC token and decentralized "basket currencies" that are 100% backed by reserves. The VRSC token is used for network security through staking and mining, paying transaction fees, and participating in the creation of new blockchains and identities. Scaling is achieved through a multi-chain architecture where new chains can be provisioned as needed, which helps to avoid the congestion and high fees often associated with single-chain systems.

What Makes Verus Unique

• Proof of Power: A hybrid consensus algorithm that addresses the "nothing at stake" problem by requiring attackers to control both a majority of the network's hash power and a majority of its staked supply.
• VerusHash: A quantum-secure hash algorithm designed for equitable mining on standard CPUs and GPUs, promoting decentralization by resisting the dominance of specialized ASIC hardware.
• Smart Transactions: Unlike traditional smart contracts, Verus uses "Smart Transactions" where the logic is part of the protocol itself, reducing the risk of code vulnerabilities and the need for frequent audits.
• VerusID: A self-sovereign identity system that provides revocable, recoverable, and user-owned identities directly on the blockchain, enabling secure and private data management.

What Can You Use Verus for?

• Mining and Staking: Users can secure the network and earn rewards using consumer-grade hardware, including mobile phones and standard CPUs.
• Self-Sovereign Identity: Creating and managing VerusIDs for secure, private, and decentralized identity verification without third-party intermediaries.
• DeFi Operations: Participating in protocol-level swaps and liquidity provision using basket currencies that inherit the full security of the underlying blockchain.
• Cross-Chain Bridging: Moving assets between Verus and other networks like Bitcoin or Ethereum through trustless, non-custodial bridges, though users should note reported security events involving these bridges.

How Does Verus Work?

Verus operates on a hybrid Proof of Power consensus, where miners and stakers contribute equally to block production. This dual-layer validation ensures high resistance to double-spend attacks. As a Layer 1 network, VRSC is used to pay gas fees for transactions and various protocol-level services.

The protocol also incorporates zero-knowledge privacy features based on Sapling technology, allowing for confidential transactions where needed. Its multi-chain architecture allows for horizontal scaling, where individual chains can be launched as Public Blockchains as a Service (PBaaS), each maintaining interoperability with the main Verus network and other connected chains.

Team Info and Investors

Verus was launched in 2018 as a 100% fairly launched community project. It conducted no Initial Coin Offering (ICO), had no premine, and did not receive traditional venture capital funding. The project is maintained by a worldwide community of developers and contributors who follow an open-source development model. Governance is community-driven, with technical improvements and ecosystem decisions made through collaborative efforts rather than a centralized corporate entity.

Where can you buy Verus?

VRSC tokens can be traded on centralized crypto exchanges. The most popular exchange to buy and trade Verus is Nonkyc.io, where the most active trading pair VRSC/USDT has a trading volume of $32.33 in the last 24 hours.

What is the daily trading volume of Verus (VRSC)?

The trading volume of Verus (VRSC) is $694.95 in the last 24 hours, representing a 86.30% increase from one day ago and signalling a recent rise in market activity. Check out CoinGecko’s list of highest volume cryptocurrencies.

What is the highest and lowest price for Verus (VRSC)?

Verus (VRSC) reached an all-time high of $6.74 and an all-time low of $0.001778. It’s now trading -94.50% below that peak and 20,917.10% above its lowest price.

What is the market cap of Verus (VRSC)?

Market capitalization of Verus (VRSC) is $30,081,462 and is ranked #628 on CoinGecko today. Market cap is measured by multiplying token price with the circulating supply of VRSC tokens (80 Million tokens are tradable on the market today).

What is the fully diluted valuation of Verus (VRSC)?

The fully diluted valuation (FDV) of Verus (VRSC) is $30,081,462. This is a statistical representation of the maximum market cap, assuming the maximum number of 84 Million VRSC tokens are in circulation today. Depending on how the emission schedule of VRSC tokens are designed, it might take multiple years before FDV is realized.

How does the price performance of Verus compare against its peers?

With a price decline of -8.00% in the last 7 days, Verus (VRSC) is underperforming the global cryptocurrency market which is down -4.50%, while underperforming when compared to similar Smart Contract Platform cryptocurrencies which are down -5.20%.