Verus (VRSC)

Rank #444

Verus (VRSC) is a Layer 1 blockchain focused on smart contracts and zero-knowledge-based privacy. The project seeks to combine privacy performance, security, and a consensus model designed to reduce typical vulnerabilities of Proof of Stake systems.

Privacy and contract technology

Verus's proposal brings zero-knowledge features to enable privacy on the network. In addition, it includes interchain contracts and security layers, with a focus on making the use of privacy more efficient in the context of its system.

To achieve this, the technology uses Sapling features and integrates proof components into a design that attempts to address limitations associated with the “nothing at stake” problem.

How consensus works in Verus

Verus introduces Proof of Power, a 50% PoW and 50% PoS consensus algorithm. The approach seeks to solve theoretical weaknesses of other PoS systems and is described as immune to 51% attacks based on hash power.

The protocol also uses VerusHash, a hashing algorithm described as near-equally mineable on CPUs and GPUs. This relates to the goal of keeping the network more resistant to attacks and encouraging decentralization more naturally.

Usage, mining, and next steps for the project

With a focus on CPU mining and also compatibility with ASICs, Verus aims for more accessible operation for different hardware profiles, within the Proof of Power model.

In the project's view, there are plans for automated provisioning of blockchains as a service, using the same technological foundation aimed at solving the “nothing at stake” problem. The first applications mentioned for this service would be polls and elections.