Hi, I was hoping to get some good discussions on an older concept that's been largely overlooked for years. Merged Mining. Imagine if this were implemented on Bitcoin's genesis? I mean imagine if Bitcoin had that feature from the beginning and every other project after it could be mined simultaneously along with it like mining ethereum and Monero along with Bitcoin. Obviously this isn't possible now but it would be a similar concept moving forward.
Most iterations of merged mining before have been somewhat small scale comparatively, just one or two projects tied together for security, rather than an entire ecosystem of coins all working together in one efficient network continuously reinforcing itself like what PBaaS aims to do.
These two new capabilities will seamlessly work hand in hand to usher in a new age and a much welcomed next era for crypto. Imagine starting a new project with complete security from attack. Imagine as a miner, being able to mine several coins together all at the same time without expending any additional energy or expense. Imagine this but for the entire crypto economy with a streamlined, cohesive, and energy efficient ecosystem of merge miners and stakers backing large scale, truly decentralized, safe, secure, and private crypto projects. Now imagine the day has come when you no longer have to use your imagination to have this, the foundation has already been built..
-Merged Mining: or auxiliary mining is a lesser known cryptographic concept that has been seldom discussed and even less so attempted, but can be found as far back as bitcointalk's earliest days. Unfortunately, development in this area of work has remained largely stagnant due to the numerous difficulties involved in coding it, coupled with the sheer complexity and vast scope involved in the programming work. Fortunately, the development team's years of experience and months of hard work have finally paid off, and now merged mining in it's true form is at last a reality. This means that a miner could find a block for Verus and now hypothetically also earn block rewards for several other projects at the exact same time! With literally nothing to lose, and significantly more to gain, it's a no brainer choice for miners. Now miners who mine for profit can make more with the same energy expenditure, while at the same time still have the option to speculatively mine and hold projects they really believe in or care about. Businesses and individual project creators will benefit too by being able to attach a newly formed project to the hashrate of a larger, more established one. This would provide security and reliability to new projects right away and in their earliest stages, a point where they are most vulnerable. Verus has created the foundation for which any person or business, whether small or large, can safely and easily enter into the blockchain.
-PBaaS: or Public Blockchain as a Service is a revolutionary new take on the blockchain as a service model entirely unique to Verus that offers the tools and necessary means to build on and utilize blockchain technology for business or personal use. It is similar to using a web hosting service to build a website with, but rather than having to build one by yourself from scratch, the service provider supplies the basics and handles all the necessary tasks from general upkeep to infrastructure maintenance. Since Verus doesn't rely on a centralized authority to work, there isn't any one single point of failure in the network, so in the event of a hack, power failure, data breach or loss, Verus' system is immune while the other options aren't. Instead of relying on a centralized system, Verus elegantly does work for the public by utilizing the public to do work.
For more in depth technical information-
Technical capabilities (current)-
Verus has a unique and new consensus algorithm called Proof of Power, a 50% PoW/50% PoS quantum resistant hashinng algorithm that solves theoretical weaknesses in other PoS systems (Nothing at Stake problem for example) and is provably immune to 51% hash attacks. With this, Verus uses the new hash algorithm, VerusHash 2.0, designed to better equalize mining across all hardware platforms, while favoring the latest CPUs over older types, a defense against the centralizing potential of botnets. Unlike past efforts to equalize hash-rates across different hardware types, VerusHash 2.0 explicitly enables CPUs to gain more hashpower relative to GPUs and FPGAs, enabling the most decentralizing hardware, CPUs (due to their virtually complete market penetration), to stay relevant as miners for the indefinite future. As for anonymity, Verus is sapling enabled, utilizing zero-knowledge proofs zk-snarks tech and is not "forced private", allowing for both transparent and shielded (private) transactions...and private messages as well.
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