What Is Veritaseum (VERI)?

What Is Veritaseum (VERI)? Complete Guide Review About Veritaseum.

What Is Veritaseum (VERI)?

Veritaseum builds blockchain-based, peer-to-peer capital markets as software on a global scale. They enable the  seamless connection of parties and assets without the need for a third or authoritarian interest. Any entity with internet access can participate in these capital markets on a peer-to-peer and one-on-one basis. The last portion of 10% called Foundation Reward goes to a special account controlled by the Master node Foundation, which is run by Tomo Chain company initially.

In Veritaseum, master nodes share equal responsibility to run the system and keep it stable. Full nodes should run on powerful hardware configuration and high-speed network connectivity in order to ensure the required block time (target to two seconds). Only nodes can produce and seal blocks. In order for that, the Chain consensus relies on the concept of Double Validation that improves some existing consensus mechanisms, namely Single Validation

Veritaseum Storage Key Points

Coin BasicInformation
Coin NameVeritaseum
Short NameVERI
Circulating Supply2,149,646.44 VERI
Total Supply100,000,000
Source CodeClick Here To View Source Code
ExplorersClick Here To View Explorers
Twitter PageClick Here To Visit Twitter Group
WhitepaperClick Here To View
Official Project WebsiteClick Here To Visit Project Website

What is the difference between Veritaseum and Veritas?

Veritaseum is the name of the company that issued a token called Veritas. Veritas is not an investment, it is software. They cannot stop others from speculating on VERI. Furthermore, there is also a reward sharing ratio among coin-holders and master node who has been elected supported by the coin-holders.

Specifically, each epoch consists of 900 blocks, which will reward a total of 250 TOMO in the first two years. This amount of 250 TOMO will be divided to all of the Master nodes proportionally to the number of signatures they sign during the epoch. Afterward, the reward achieved by each Master node will be divided into three portions

Why is Veritaseum’s market cap so under reported? And is this valid?

Coin market cap determines market cap using “circulating supply” as supposed to total supply. Whether this number is under reported is up to your preferred method of reporting. In addition, they don’t feel it matters nearly as much as many assume. Market cap, in this sense, is not the same as valuation. Valuation takes a much more focused and rigorous approach than multiplying two numbers.

How dependent is Veritaseum to the Ethereum blockchain for its P2P platform?

Veritaseum products are not dependent on any blockchain because it can be moved to different blockchains. This being said, it will take some engineering effort to port from, and between blockchains. They feel that most new blockchains will be written in such a fashion as to be backwards -compatible with Ethereum applications.

Can Veritaseum be made SEC-compliant in case it is found that Veritaseum is not compliant?

Veritaseum was already planning to release public financial reports. We believe they are a software based consultancy that has not issued unregistered securities, but if forced to comply with SEC regulation as something other than a software vendor, they don’t believe they will have a problem in doing so. Please be aware that they are not regulatory specialists nor securities attorneys, hence this is simply our layman’s opinion.

What does “Veritize” mean?

Veritize – meaning that an asset is assigned a customized VERI token (think of a wrapper that surrounds the asset and gives it special programmable attributes that can live on, and travel through, the blockchain). For example, you can take the lease on a building, “Veratize” it, and now that lease can trade on your digital asset exchanges. This is the process that we are introducing to your exchange partners.