This review will focus on what is Veritaseum (VERI). The modern market offers many cryptocurrency projects, among which VERI altcoin takes far from the last place.
Veritaseum cryptocurrency and the project of the same name are a high-tech development for handling cryptocurrency assets in conditions of increased security and confidentiality.
Veritaseum project basic information
It should be noted that the use of Veritaseum allows building a market infrastructure based on Blockchain technologies, operating the peer-to-peer system as the software on a global scale.
Veritaseum developers use assets in a wide range, providing reliable protection against risks and using Blockchain technologies as a stand-alone software for interaction between users without intermediaries.
At first, the complexity of the Veritaseum network includes two main components: centralized and distributed.
The centralized component of Veritaseum
The software solutions of the Veritaseum project are focused on providing services to existing companies, which currently cannot afford to completely change the scheme of work and drastically move to management on the principles of decentralization. The Veritaseum system is a project that has a versatile and flexible work concept. The centralized components of the Veritaseum system allow the client to use the functionality of the platform while independently monitoring the servers within the Jamaican Stock Exchange when entering into an official agreement with Veritaseum.
The development of Veritaseum in this perspective provides users with the following functionality:
- Providing the possibility of centralized cryptocurrency exchange for the brokers work in the framework of financial exchange platforms;
- The possibility of using a smart component called “smart arbitrage”, focused on cross-platform liquidity.
Decentralized component of the Veritaseum system
The growth of Veritaseum is also ensured by the decentralized components of the system, which are used in a unique way, based on careful analysis and research of specialists: fundamental, forensic and macroanalysts are the main driving mechanisms. The process of creating sub-tokens of the system is performed using the following algorithm:
- The task goes to the analysts of the Veritaseum system, which in turn are responsible for creating a structure to support the design;
- Created by analysts, the design is passed to software specialists and developers of smart contracts that are responsible for the logical component and financial analysis;
- The received Veritaseum coins are transferred to the client for operating them in the P2P mode and for conducting transactions.
The VERI currency and the operation of the Veritaseum system with all the products available to users allow optimizing the operation of relatively obsolete companies by integrating innovative technologies and components into their systems. The system’s framework allows you to increase the profitability of Veritaseum by providing broad functionality to various categories of network users.
Main features of the Veritaseum project
The main features of Veritaseum are the use of VERI coins through their transformation into sub-tokens for the operation of the financial mechanisms of the project, the main one of which is VeADIR.
VeADIR is a complex that includes about a dozen smart contracts responsible for managing software customers distributed and functioning in the network. At the moment, VeADIR consists of 2.3 thousand lines of reliability code and 8 hundred lines of the graphical interface. The item is in beta testing. At the same time, VeADIR includes separate components, each of which has its own functional:
- VeADIR – is the core of an autonomous design and financial mechanism that ensures the operation of digital assets and the build-up of a database with the help of positive adjustments;
- VeRent – presents the interface and system tools for users with VERI tokens and VeADIR software package;
- VeTokenization – automated toolkit for the formation of sub-tokens of the Veritaseum system when it is necessary to operate assets;
- VeExposure is another tool for accessing the VeADIR functionality when working with private keys;
- VeManagement is an administrative tool for risk control in parallel development of an autonomous package.
Detailed information about the technical details of the project can be found on the official Veritaseum website – http://veritas.veritaseum.com.
Those wishing to study the sub-system and understand in detail how the VERI coin and the platform itself working, free access to the source code by the link – https://github.com/RFVenter/Veritaseum/.
Advantages of the Veritaseum project
The Veritaseum system allows users to work with a contract package of decentralized software, which facilitates the operation of Peer-to-Peer clients and improves the speed of OTC transactions between users.
The cost of the VERI cryptocurrency
If we talk about how much it costs VERI in the equivalent of the US dollar, then 1 coin as of February 21, 2018 is worth 261.47 USD. In the equivalent of cryptocurrency, the cost of Veritaseum-tokens is expressed as follows: in Bitcoins – 0.0246941 BTC, in Ethers – 0.302169 ETH. If you are going to regularly track the course of this cryptocurrency or want to know how much Veritaseum costs now, then you will need this link – https://coinmarketcap.com/currencies/veritaseum/.
Capitalization of the VERI cryptocurrency
The total capitalization value of this token is more than 532.5 million US dollars. Not every cryptocurrency could achieve such heights and take its niche like Veritaseum.
How to buy or exchange VERI cryptocurrency
In order to buy VERI, it is necessary to be the owner of the Veritaseum wallet of the MyEtherWallet type or any other supporting cryptocurrency wallet that meets the ERC20 standards.
At the same time, the Veritaseum address is mandatory, which is specified for obtaining assets on a particular user account. The operation is as follows:
- In the “Contracts” menu, the necessary parameters for the transaction are set;
- In the “Interaction with the contract” tab, you enter the Veritaseum address and insert the copied code if you can use the private key to unlock it.
For obtaining VERI coins the algorithm of actions is not different from working with any other cryptocurrency: a certain amount of digital assets is sent, and in return, the user receives the number of VERI tokens corresponding to the current exchange rate.
Projections for the Veritaseum project
Veritaseum in 2018 may have controversial forecasts, since many users of the Veritaseum system may consider the project primitive at first glance because of its allegedly technical backwardness. At the same time, the developers are focused on the various details of the project, because not the software itself, but its “filling” contributes to the growth of the user audience. Prospects for the development of Veritaseum lie in the focus on the decentralization of the mass of obsolete companies with the exclusion of intermediation and participation in transactions with assets of third parties. The Veritaseum system provides a “battlefield” for working with various currencies and commodities with low commissions for conducting operations in conditions of increased security based on Blockchain technology.
Veritaseum project team
The dynamics of Veritaseum and the promotion of the project would be impossible without the specialists to whom the world of digital currency is responsible for the output of this project:
- Reggie Middleton is an expert on advising a mass of investors, traders and banking companies. The founder of the project and its general director;
- Patrick Dvorzhnik – Java-developer, specialist in Blockchain technologies;
- Manish Kapur is the chief analyst of the project, a certified accountant.
Conclusions about the Veritaseum project
Concluding the review about the Veritaseum system, it is worthwhile to say that the project is focused on high goals, and developers are led by big ambitions, which, with a competent approach, can be implemented in future. Optimization of different companies for working with Blockchain technologies attracts both small and large investors to the Veritaseum project. Application of cryptographic encryption technology, ensuring confidentiality, security and high speed of transactions provide users with ample opportunities for effective work within the Veritaseum site.