Exploring Veruscoin

in #leofinance3 years ago

img_0.5573390228773677
Image Source

Veruscoin is it's own independent chain that has been running since 2018. It's a fork off Komodo platform with a significant amount of changes to the code itself and then subsequent updates later. Most of the items in the vision paper have been realized in main currently or in testnet now. The community itself is very strong with those that have a true understanding for the technology that it has and will have. During bull market there was a run to just over $3 before the market crashed along with a couple other potential drops in price (staking exploit that allowed a bunch of coins to be rewarded that were liquidated, paper hands etc).
The price itself stays pretty stable right now but is effected greatly by miners looking for quick profit that find efficiencies in CPU mining and don't track the future tech and capabilities (my opinion). Aside from that, Verus isn't listed on major exchanges for a few different reasons or another (not wanting to be exploited for listing fees, future no need to have an exchange with mobile fiat onramp / defi coming, lack of awareness). The lack of awareness of Verus is mainly due to an oversaturated crypto market being exploited by VCs with old money they are bringing into the crypto ecosystem, investing in tokens and projects, artificially inflating them with their marketing budget and cashing out and moving on. Because Verus was fair launched with no ICO, no pre-mine, no developer fees, and no VC money the marketing budget isn't comparable to big VC backed coins and an organic growth model mixed in with community involvement is the growth of Verus, albeit slow.
The community is strong and it truly is a community project, but it does need more awareness. There are things right now that can be done that no other project is doing or can figure out, and that is sad to see right now it not being mentioned, but again, the community is strong and resilient and doing their best to get the word out and letting the technology speak do most of the talking.

These are just my opinion about Veruscoin and you should never take it as financial advice.

Sort:  

Congratulations @phoenixgold! You have completed the following achievement on the Hive blockchain and have been rewarded with new badge(s):

You published more than 40 posts.
Your next target is to reach 50 posts.

You can view your badges on your board and compare yourself to others in the Ranking
If you no longer want to receive notifications, reply to this comment with the word STOP

To support your work, I also upvoted your post!

Check out the last post from @hivebuzz:

Be ready for the 6th edition of the Hive Power Up Month!
Hive Power Up Day - June 1st 2022
Support the HiveBuzz project. Vote for our proposal!

Yay! 🤗
Your content has been boosted with Ecency Points
Use Ecency daily to boost your growth on platform!

Support Ecency
Vote for new Proposal
Delegate HP and earn more, by @phoenixgold.