VeriBlock, Securing the World’s Blockchains with Bitcoin
VeriBlock is securing the world’s blockchains using bitcoin.
It’s a project of Bloq, the enterprise grade blockchain technology company, run by co-founders Jeff Garzik and Matthew Roszak. Some of their other initiatives include Qtum, Metronome, Civic, Dragonchain, and drivechains.
I actually checked out the project because the Chairman is Andrew “Flip” Filipowski. He’s a tech entrepreneur and guru but that description doesn’t do him justice. If you’ve never heard him talk check out this video.
VeriBlock uses Proof of Proof (PoP) mining which enables blockchains to inherit and leverage PoW from a superior blockchain such as bitcoin. This security encourages the adoption of these blockchains which address bitcoin’s feature limitations.
The VeriBlock blockchain enables PoP mining and acts as a fully decentralized, transparent, trustless, permissionless security adapter/aggregation layer between other blockchains and bitcoin.
That makes other blockchains really secure.
Per VeriBlock, Bitcoin, the golden standard of security, has more than 40 times the thermos-equivalent computational power to the world’s fastest supercomputer. As of July 2017, a successful attack on Bitcoin would require a minimum of 600 MWh of electricity and over $1B of specialized computational infrastructure.
With VeriBlock reversing consensus on that block would require forking Bitcoin, VeriBlock, and the VeriBlock-secured blockchain simultaneously.
There’s a limitless number of blockchains that could achieve security with VeriBlock and bitcoin. That’s bullish for bitcoin too.
VeriBlock is led by CEO Maxwell Sanchez and has the previously mentioned support of Flip Filipowski and Bloq. It also has notable advisors in Bill Shihara of Bittrex, Anthony Di Iorio of Jaxx, and Bo Shen of FenBushi Capital.
The VeriBlock token serves as a price discovery mechanism that allows the efficient allocation of the scare resource of proof, allowing all blockchains to inherit Bitcoin’s PoW security.
That’s about all I can find on the token at this point. Not sure if there’s a token sale or what the deal is. If you know, please share!
and trade cryptos on Binance
great information amzing post thanks for sharing all of your post was amazing upvoted and resteemed
Cheers!
It was a long and beautiful article, my friend
Many thanks!
Great information
Thanks!
I should thank you bro for the good post and upvote.
its seems so interessing , i will check it out thanks for sharing
Agreed, I'm fascinated with the concept.
Wonderful cryptocurrency news,always you share au informative post.
Thanks
Thanks!
I want to continue studying this problem so that it can be level with you
Looks like a very interesting project. Any time I hear Qtum or Civic I'm instantly intrigued - I'm a strong believer in both of those coins.
That is a very strong team indeed, especially having the support of Andrew Filipowski. I'm not sure about a token sale but will let you know when I find out, going to have a look for a white paper etc. PoP sounds really cool!
I like QTUM, one I want to buy more of.
If you hear anything on the token sale give a shout.
I got Qtum very cheap , and Civic actually, so in Holding both. Will do!
Cheers friend thats great
Cheers!
Que buena noticia, todo lo que sea buena para la blockchain contribuye y da mas confianza a las criptomonedas, mucho éxito.
That was very informative
Thanks!