Announcing Verus v1.2.2-4 - MANDATORY UPDATE FOR vARRR MAINNET SUPPORT BEFORE vARRR BLOCK 67000 (in approximately 1 month) OR EARLIER IF DECIDED BY THE vARRR COMMUNITY. NEW PBaaS CHAINS SHOULD LAUNCH USING v1.2.2-4

MANDATORY UPDATE FOR CONTINUED VERUS TESTNET USAGE

CRITICAL UPDATE FOR VERUS MINING AND STAKING NODES

A small number of recently exported VerusIDs from Verus to vARRR exposed an issue that is not a security issue but has a potential unintended consequence for some users. Due to the way that VerusID locks and unlocks work, VerusIDs that have been locked, then unlocked, then exported to vARRR from Verus may end up locked on vARRR until a block height very far in the future that is the block where it actually unlocked on Verus. This happened to 3 IDs that were exported.

v1.2.2-4 will check in the sendcurrency command when a VerusID is exported to another chain if the timelock is set as an absolute timelock (specific to chain), or if the timelock is non-zero on an unlocked ID. If so, sendcurrency will throw an error along with a specific command needed to zero the value before exporting the ID.

At block 67000 on vARRR, v1.2.2-4 and all PBaaS chains will begin clearing this condition as part of importing an ID. After that time, someone in the community may make a pull request to remove the warning and failure on sendcurrency, which will no longer have a potential unintended consequence.

v1.2.2-4 Fixes an issue with Verus Desktop on Windows, which could sometimes result in the Verus daemon seeming to be closed when it was not. We believe this may have resulted in the need for some Windows users to bootstrap, even when Windows Update hadn’t directly rebooted their system.

v1.2.2-4 Enables adding VRSC as a vARRR currency or vARRR as a Verus currency in Verus Desktop and has UI improvements for defi functions

v1.2.2-4 Fixes a testnet-only issue that was preventing proper processing of CUR and REX currencies on testnet. The “Disable DeFi” oracle has been activated on testnet during this update, and when it is deactivated, v1.2.2-3 or lower will no longer be compatible with testnet. Please upgrade as soon as possible to use testnet. We expect to remove the disable notification sometime tomorrow.

General VerusId, Verus DeFI, and Public Blockchains as a Service (PBAAS) Capabilities

• On-chain Self Sovereign, Provable Identities, NFTs, and Individual or Organizational Profiles
• On-chain Launches of Token, Centralized Currency, and Liquidity Basket AMMs
• On-chain Launches and Merge Mining of Independent, Connected, Interoperable Blockchains without Programming

Verus ID and NFT Marketplace

Buy and sell VerusIDs on-chain, advertising your offer directly to the owner of an ID or NFT, or posting the sale of your NFT on the worldwide blockchain for all the world to see. Execute transactions in a completely decentralized way. Pay or offer to pay from a transparent or zero-knowledge private address, still auditable by you. Accept payment to either as well, and best of all, execute your transactions directly, peer-to-peer without any intermediary necessary. Don’t worry the on-chain model still makes room for owners to select and share proceeds with value added agents, marketing organizations, or other participants in a new economy of provable digital ownership. It’s the next step in the evolution of VerusID, the most powerful self-sovereign identity and secure storage model for funds in the digital world.

Verus Vault

With Verus Vault you can now protect funds on a VerusID, even from theft of a private key! If you lock your VerusID with Vault you cannot spend funds from that identity at all until it is again unlocked. While locked, you can still stake those same funds on the Verus network and earn by doing so. Of course, you can also still receive funds.

IT IS IMPORTANT TO NOTE THAT ENABLING REVOCATION, RECOVERY, AND ALL VERUS VAULT CAPABILITIES REQUIRE YOU TO HAVE ONE PRIMARY IDENTITY, AND AT LEAST ONE REVOCATION/RECOVERY ID CONFIGURED.

A locked VerusID can always be revoked and recovered by its revocation and recovery authority identities, which circumvents the lock. At the same time, anyone with only the primary keys, even a multisig of primary keys must first unlock, then wait for the predetermined unlock time before they can spend or access funds. This gives you, or maybe a company that specializes in watching the blockchain to whom you've assigned the revocation ID to revoke and recover whenever an unauthorized unlock occurs. That means that like a bank, setting a 24 hour unlock delay on your locked IDs actually provides the first decentralized solution to the infamous 5 dollar wrench attack.

In addition to a new level of blockchain protection and decentralized funds recovery, Verus Vault provides the same security for your IDs and NFTs as well as time locks for other purposes, such as vesting schedules, trusts, and inheritance. With Verus Vault, you can now protect and recover your funds, preserving all your assets and generational blockchain wealth from common forms of crypto loss or theft, no bank required.

New Verus Multicurrency, Multichain, DeFi Enabled Testnet

With an easy GUI for basic operations or command line for more advanced functions. Without any programming, you can now create new identities, currencies, liquidity pools, and blockchains for your business, your government, your projects, a worthy cause, your family, or your next decentralized application suite. Send currencies worldwide on the same chain, or across blockchains with ease. Even convert currencies to others on the network without an exchange by sending to yourself and converting along the way.

The new Verus testnet is a full-featured, intrinsically decentralized multi-chain blockchain platform with an unlimited number of identities, currencies, liquidity pools, and blockchains. It is accessible from the released versions of Verus Desktop and Verus CLI wallets, and it is the beginning of a new age in crypto. There are so many things you can do with Verus that you cannot with any other cryptocurrency platform, and you can try them all today.

As Verus PBaaS offers completely new capabilities that go beyond today’s decentralized platforms in many fundamental ways, the worldwide Verus community put its energy into creation, rather than convincing everyone that its capabilities are possible. Members across the Verus worldwide community have worked hard to make this all possible, and we are more than excited that you can now experience it firsthand. If you have an interest in the future of crypto, you owe it to yourself to learn about Verus, an unlimited scale, decentralized future with truth and privacy for all.

The Verus testnet, available in the Verus Desktop or cli wallets as the VRSCTEST coin, has the following capabilities, which to our knowledge are unique in crypto today.

Self sovereign, revocable, recoverable identities (currently on mainnet) VerusID

• Enables permissionless registration of friendly name strong identities and funds addresses that are simultaneously fully self-sovereign, revocable, and recoverable.

Staking-capable time locking and theft prevention (Verus Vault)

• Enables identities to be locked, preventing any funds under their control from being spent while locked, but still allowing seamless staking of funds. When locked, a user specifies an unlock delay, typically long enough to notice when someone who might have compromised a user’s keys would have to unlock the ID before spending. The only way to circumvent the unlock delay is to revoke and recover an ID. Users may also choose to create and use fresh private keys when unlocking an ID as well. This enables virtually theft proof workflow and a solution to inheritance, trusts, vesting schedules, the 5$ wrench attack, and identity theft. IDs may be used as friendly name cryptocurrency addresses for all currencies on all Verus PBaaS blockchains in the Verus network. The VerusID protocol is a protocol, which can also be implemented on non-Verus systems.

Multi-currency, user created, decentralized tokens and merge-mineable, interoperable blockchains without programming

• Enables any user with an ID to create their own token currency or even full fledged, multi-currency, ID-issuing 50% POW/50% POS, 51% hash attack resistant blockchain that can send and receive from the Verus chain which launched it. All PBaaS chains run from the same daemon, and projects may choose to join the worldwide Verus community in improving the daemon. In doing so, they will start with a complete, multi-currency, ID-capable blockchain with DeFi capabilities that is merge-mineable and stakeable with other blockchains in the Verus network.

Consensus integrated DeFi liquidity pools and fractional currency baskets

• Any ID owner may define Verus DeFi fractional basket currencies with one or more asset currencies backing the liquidity pool at a fractional percentage ranging from 5% to 100% backing. The Verus DeFi protocol ensures that all currency conversions that use a particular liquidity pool and are mined into one block are solved and priced simultaneously, addressing the problems of miner extracted value (MEV) and front-running, while providing fee-based DeFi integrated incentives to miners and stakers, ensuring smooth consensus operation and fee conversion capabilities by integrating DeFi liquidity pools directly into the consensus and cross-chain bridge protocols.

Simultaneous blockchain and blockchain liquidity pool launches

• Launch of a world class, worldwide, merge-mineable blockchain along with a fully decentralized or centralized “bridge” converter liquidity pool as part of defining a new blockchain. Bridge converter currencies have the same flexibility as other fractional 100% asset backed or partially asset backed currencies, but is bound to the launch of the new blockchain,...

Announcing Verus v1.2.2-3 - MANDATORY UPDATE FOR vARRR MAINNET, HIGHLY RECOMMENDED FOR ALL SERVICE NODE OPERATORS AND VERUS MAINNET

vARRR NODES MUST UPGRADE TO v1.2.2-3 BY HEIGHT 18250 TO REMAIN PROPERLY CONNECTED TO THE MAIN vARRR NETWORK AS CROSS-CHAIN TRAFFIC FROM VRSC->vARRR IS THEN CLEARED BY CONSENSUS. FUTURE PBaaS CHAINS SHOULD USE v1.2.2-3 OR LATER TO LAUNCH.

vARRR MAY CHOOSE TO INITIATE EARLY ACTIVATION BY ORACLE IF ENOUGH PEOPLE IN THE vARRR COMMUNITY UPGRADE PRIOR TO THAT HEIGHT AND WOULD LIKE TO DO SO

v1.2.2-3 also includes a new default for RPC commands on all chains related to adding files to on-chain data. In the default case, signdata, sendcurrency, and updateidentity will not allow encryption of files from disk unless the daemon was started with -enablefileencryption=1 . In addition, if the daemon is started with -enablefileencryption=0, files will not be able to be even hashed for use with the signdata API.

v1.2.2-3 fixes a failure to create a transaction for the makeoffer command if the funds destination is a z-address and there is no memo present.

General VerusId, Verus DeFI, and Public Blockchains as a Service (PBAAS) Capabilities

• On-chain Self Sovereign, Provable Identities, NFTs, and Individual or Organizational Profiles
• On-chain Launches of Token, Centralized Currency, and Liquidity Basket AMMs
• On-chain Launches and Merge Mining of Independent, Connected, Interoperable Blockchains without Programming

Verus ID and NFT Marketplace

Buy and sell VerusIDs on-chain, advertising your offer directly to the owner of an ID or NFT, or posting the sale of your NFT on the worldwide blockchain for all the world to see. Execute transactions in a completely decentralized way. Pay or offer to pay from a transparent or zero-knowledge private address, still auditable by you. Accept payment to either as well, and best of all, execute your transactions directly, peer-to-peer without any intermediary necessary. Don’t worry the on-chain model still makes room for owners to select and share proceeds with value added agents, marketing organizations, or other participants in a new economy of provable digital ownership. It’s the next step in the evolution of VerusID, the most powerful self-sovereign identity and secure storage model for funds in the digital world.

Verus Vault

With Verus Vault you can now protect funds on a VerusID, even from theft of a private key! If you lock your VerusID with Vault you cannot spend funds from that identity at all until it is again unlocked. While locked, you can still stake those same funds on the Verus network and earn by doing so. Of course, you can also still receive funds.

IT IS IMPORTANT TO NOTE THAT ENABLING REVOCATION, RECOVERY, AND ALL VERUS VAULT CAPABILITIES REQUIRE YOU TO HAVE ONE PRIMARY IDENTITY, AND AT LEAST ONE REVOCATION/RECOVERY ID CONFIGURED.

A locked VerusID can always be revoked and recovered by its revocation and recovery authority identities, which circumvents the lock. At the same time, anyone with only the primary keys, even a multisig of primary keys must first unlock, then wait for the predetermined unlock time before they can spend or access funds. This gives you, or maybe a company that specializes in watching the blockchain to whom you've assigned the revocation ID to revoke and recover whenever an unauthorized unlock occurs. That means that like a bank, setting a 24 hour unlock delay on your locked IDs actually provides the first decentralized solution to the infamous 5 dollar wrench attack.

In addition to a new level of blockchain protection and decentralized funds recovery, Verus Vault provides the same security for your IDs and NFTs as well as time locks for other purposes, such as vesting schedules, trusts, and inheritance. With Verus Vault, you can now protect and recover your funds, preserving all your assets and generational blockchain wealth from common forms of crypto loss or theft, no bank required.

New Verus Multicurrency, Multichain, DeFi Enabled Testnet

With an easy GUI for basic operations or command line for more advanced functions. Without any programming, you can now create new identities, currencies, liquidity pools, and blockchains for your business, your government, your projects, a worthy cause, your family, or your next decentralized application suite. Send currencies worldwide on the same chain, or across blockchains with ease. Even convert currencies to others on the network without an exchange by sending to yourself and converting along the way.

The new Verus testnet is a full-featured, intrinsically decentralized multi-chain blockchain platform with an unlimited number of identities, currencies, liquidity pools, and blockchains. It is accessible from the released versions of Verus Desktop and Verus CLI wallets, and it is the beginning of a new age in crypto. There are so many things you can do with Verus that you cannot with any other cryptocurrency platform, and you can try them all today.

As Verus PBaaS offers completely new capabilities that go beyond today’s decentralized platforms in many fundamental ways, the worldwide Verus community put its energy into creation, rather than convincing everyone that its capabilities are possible. Members across the Verus worldwide community have worked hard to make this all possible, and we are more than excited that you can now experience it firsthand. If you have an interest in the future of crypto, you owe it to yourself to learn about Verus, an unlimited scale, decentralized future with truth and privacy for all.

The Verus testnet, available in the Verus Desktop or cli wallets as the VRSCTEST coin, has the following capabilities, which to our knowledge are unique in crypto today.

Self sovereign, revocable, recoverable identities (currently on mainnet) VerusID

• Enables permissionless registration of friendly name strong identities and funds addresses that are simultaneously fully self-sovereign, revocable, and recoverable.

Staking-capable time locking and theft prevention (Verus Vault)

• Enables identities to be locked, preventing any funds under their control from being spent while locked, but still allowing seamless staking of funds. When locked, a user specifies an unlock delay, typically long enough to notice when someone who might have compromised a user’s keys would have to unlock the ID before spending. The only way to circumvent the unlock delay is to revoke and recover an ID. Users may also choose to create and use fresh private keys when unlocking an ID as well. This enables virtually theft proof workflow and a solution to inheritance, trusts, vesting schedules, the 5$ wrench attack, and identity theft. IDs may be used as friendly name cryptocurrency addresses for all currencies on all Verus PBaaS blockchains in the Verus network. The VerusID protocol is a protocol, which can also be implemented on non-Verus systems.

Multi-currency, user created, decentralized tokens and merge-mineable, interoperable blockchains without programming

• Enables any user with an ID to create their own token currency or even full fledged, multi-currency, ID-issuing 50% POW/50% POS, 51% hash attack resistant blockchain that can send and receive from the Verus chain which launched it. All PBaaS chains run from the same daemon, and projects may choose to join the worldwide Verus community in improving the daemon. In doing so, they will start with a complete, multi-currency, ID-capable blockchain with DeFi capabilities that is merge-mineable and stakeable with other blockchains in the Verus network.

Consensus integrated DeFi liquidity pools and fractional currency baskets

• Any ID owner may define Verus DeFi fractional basket currencies with one or more asset currencies backing the liquidity pool at a fractional percentage ranging from 5% to 100% backing. The Verus DeFi protocol ensures that all currency conversions that use a particular liquidity pool and are mined into one block are solved and priced simultaneously, addressing the problems of miner extracted value (MEV) and front-running, while providing fee-based DeFi integrated incentives to miners and stakers, ensuring smooth consensus operation and fee conversion capabilities by integrating DeFi liquidity pools directly into the consensus and cross-chain bridge protocols.

Simultaneous blockchain and blockchain liquidity pool launches

• Launch of a world class, worldwide, merge-mineable blockchain along with a fully decentralized or centralized “bridge” converter liquidity pool as part of defining a new blockchain. Bridge converter currencies have the same flexibility as other fractional 100% asset backed or partially asset backed currencies, but is bound to the launch of the new blockchain, runs on the new blockchain, and all fees generated via cross chain fee conversions or general use of the liquidity pool are earned on the new blockchain with no rent going back to the Verus blockchain, only seamless connectivity.

Blockchain-based, crowdfunding currency launches with minimum participation or automatic refunds, including for dual launches (blockchain and bridge)

• Set required minimum levels of worldwide participation in your preferred currencies on chain. If by the start time of your blockchain, minimums are not met, all participants will automatically get a refund of all of their pre-conversions, less the network fees. The launch options also provide for maximum participation in one or more currencies, pre-launch discounts, price neutral pre-allocations to select IDs that increase the fractional reserve ratio to issue currencies, similarly price neutral carve-outs of proceeds, and pre-launch discounts for early participants. Using VerusIDs, launches can also include vesting schedules in the pre-allocations as well.

An interoperable, multichain network for new use cases and unlimited scale**

• The Verus multi-cur...

Announcing Verus v1.2.2-2 - MANDATORY UPDATE FOR MAINNET

UPGRADE TO v1.2.2-2 OR LATER ON VERUS MAINNET BEFORE BLOCK 3000000 (approximately Wed 10 Apr 2024 4 PM UTC, Wed 10 Apr 2024 9 AM PDT) TO REMAIN PROPERLY CONNECTED TO THE VERUS BLOCKCHAIN AS vARRR CONNECTS FOR CROSS-CHAIN OPERATION WITH VERUS

ALL BLOCK MINERS AND STAKERS SHOULD UPGRADE ASAP TO INITIATE A PREPARATORY SOFT FORK AND ENSURE THE SMOOTHEST OVERALL NETWORK UPGRADE POSSIBLE

vARRR is running smoothly, and all distributions from launch were quickly and properly completed by the chain. It is notarizing properly on its own chain, able to launch its own currencies and able to work with all the currencies already imported from Verus in block 1 to the vARRR chain. As everyone using it has probably noticed, there is still an issue.

A few years ago, a decision was made to incorporate VerusIDs with their attached data into block one instead of without their data, which is the standard procedure for normal VerusID exports. This was done to allow initial oracle behavior to affect block 1, if necessary, which it has never been. This process involves transferring the VerusIDs through JSON during the creation and also the PBaaS chain’s validation of block 1. In this specific launch, one of those VerusIDs contained an unusual VDXF object. Additionally, there was an issue with the JSON output of this particular type of VDXF object; it deserialized slightly differently than it serialized. Consequently, a VerusID included in the coinbase of vARRR block 1 had slightly different data than the corresponding data on the Verus chain. This discrepancy means that when Verus adheres to the cross-chain protocol for validating the first notarization back to Verus, it rejects vARRR block one due to the data mismatch. This is the same rejection that would safeguard against any kind of change to the specified behavior or distributions. Verus will reject cross-notarization until the Verus network as a whole makes an exception for vARRR, and v1.2.2-2 includes that exception. Of course, in preparing this release, we also addressed each fundamental point of learning, from deciding not to retain ID data on launch IDs to fixing the JSON serialization of the VDXF object in question.

Since the Verus PBaaS networks are networks of people, we need to give some amount of reasonable time, commensurate with the time importance of the change required for everyone to upgrade their nodes and have solid consensus. As a community, we have tools, like decentralized oracles and other network capabilities, which we will employ to allow for a straightforward, non-bootstrap upgrade process, even for those who are unable to upgrade before activation. All that said, WE DO NEED MAXIMUM PARTICIPATION. We have a supportive, large community, and we hope all block validators and most network nodes in general upgrade as soon as possible to help activate a preparatory soft-fork, locking in the vARRR chain for acceptance when the full upgrade activates at block 3,000,000.

General VerusId, Verus DeFI, and Public Blockchains as a Service (PBAAS) Capabilities

• On-chain Self Sovereign, Provable Identities, NFTs, and Individual or Organizational Profiles
• On-chain Launches of Token, Centralized Currency, and Liquidity Basket AMMs
• On-chain Launches and Merge Mining of Independent, Connected, Interoperable Blockchains without Programming

Verus ID and NFT Marketplace

Buy and sell VerusIDs on-chain, advertising your offer directly to the owner of an ID or NFT, or posting the sale of your NFT on the worldwide blockchain for all the world to see. Execute transactions in a completely decentralized way. Pay or offer to pay from a transparent or zero-knowledge private address, still auditable by you. Accept payment to either as well, and best of all, execute your transactions directly, peer-to-peer without any intermediary necessary. Don’t worry the on-chain model still makes room for owners to select and share proceeds with value added agents, marketing organizations, or other participants in a new economy of provable digital ownership. It’s the next step in the evolution of VerusID, the most powerful self-sovereign identity and secure storage model for funds in the digital world.

Verus Vault

With Verus Vault you can now protect funds on a VerusID, even from theft of a private key! If you lock your VerusID with Vault you cannot spend funds from that identity at all until it is again unlocked. While locked, you can still stake those same funds on the Verus network and earn by doing so. Of course, you can also still receive funds.

IT IS IMPORTANT TO NOTE THAT ENABLING REVOCATION, RECOVERY, AND ALL VERUS VAULT CAPABILITIES REQUIRE YOU TO HAVE ONE PRIMARY IDENTITY, AND AT LEAST ONE REVOCATION/RECOVERY ID CONFIGURED.

A locked VerusID can always be revoked and recovered by its revocation and recovery authority identities, which circumvents the lock. At the same time, anyone with only the primary keys, even a multisig of primary keys must first unlock, then wait for the predetermined unlock time before they can spend or access funds. This gives you, or maybe a company that specializes in watching the blockchain to whom you've assigned the revocation ID to revoke and recover whenever an unauthorized unlock occurs. That means that like a bank, setting a 24 hour unlock delay on your locked IDs actually provides the first decentralized solution to the infamous 5 dollar wrench attack.

In addition to a new level of blockchain protection and decentralized funds recovery, Verus Vault provides the same security for your IDs and NFTs as well as time locks for other purposes, such as vesting schedules, trusts, and inheritance. With Verus Vault, you can now protect and recover your funds, preserving all your assets and generational blockchain wealth from common forms of crypto loss or theft, no bank required.

New Verus Multicurrency, Multichain, DeFi Enabled Testnet

With an easy GUI for basic operations or command line for more advanced functions. Without any programming, you can now create new identities, currencies, liquidity pools, and blockchains for your business, your government, your projects, a worthy cause, your family, or your next decentralized application suite. Send currencies worldwide on the same chain, or across blockchains with ease. Even convert currencies to others on the network without an exchange by sending to yourself and converting along the way.

The new Verus testnet is a full-featured, intrinsically decentralized multi-chain blockchain platform with an unlimited number of identities, currencies, liquidity pools, and blockchains. It is accessible from the released versions of Verus Desktop and Verus CLI wallets, and it is the beginning of a new age in crypto. There are so many things you can do with Verus that you cannot with any other cryptocurrency platform, and you can try them all today.

As Verus PBaaS offers completely new capabilities that go beyond today’s decentralized platforms in many fundamental ways, the worldwide Verus community put its energy into creation, rather than convincing everyone that its capabilities are possible. Members across the Verus worldwide community have worked hard to make this all possible, and we are more than excited that you can now experience it firsthand. If you have an interest in the future of crypto, you owe it to yourself to learn about Verus, an unlimited scale, decentralized future with truth and privacy for all.

The Verus testnet, available in the Verus Desktop or cli wallets as the VRSCTEST coin, has the following capabilities, which to our knowledge are unique in crypto today.

Self sovereign, revocable, recoverable identities (currently on mainnet) VerusID

• Enables permissionless registration of friendly name strong identities and funds addresses that are simultaneously fully self-sovereign, revocable, and recoverable.

Staking-capable time locking and theft prevention (Verus Vault)

• Enables identities to be locked, preventing any funds under their control from being spent while locked, but still allowing seamless staking of funds. When locked, a user specifies an unlock delay, typically long enough to notice when someone who might have compromised a user’s keys would have to unlock the ID before spending. The only way to circumvent the unlock delay is to revoke and recover an ID. Users may also choose to create and use fresh private keys when unlocking an ID as well. This enables virtually theft proof workflow and a solution to inheritance, trusts, vesting schedules, the 5$ wrench attack, and identity theft. IDs may be used as friendly name cryptocurrency addresses for all currencies on all Verus PBaaS blockchains in the Verus network. The VerusID protocol is a protocol, which can also be implemented on non-Verus systems.

Multi-currency, user created, decentralized tokens and merge-mineable, interoperable blockchains without programming

• Enables any user with an ID to create their own token currency or even full fledged, multi-currency, ID-issuing 50% POW/50% POS, 51% hash attack resistant blockchain that can send and receive from the Verus chain which launched it. All PBaaS chains run from the same daemon, and projects may choose to join the worldwide Verus community in improving the daemon. In doing so, they will start with a complete, multi-currency, ID-capable blockchain with DeFi capabilities that is merge-mineable and stakeable with other blockchains in the Verus network.

Consensus integrated DeFi liquidity pools and fractional currency baskets

• Any ID owner may define Verus DeFi fractional basket currencies with one or more asset currencies backing the liquidity pool at a fractional percentage ranging from 5% to 100% backing. The Verus DeFi protocol ensures that all currency conversions that use a particular liquidity pool and are mined into one block are solv...

Announcing Verus v1.2.2-1 - MANDATORY UPDATE FOR MAINNET AND TO PARTICIPATE IN vARRR LAUNCH

UPGRADE TO v1.2.2-1 OR LATER ON VERUS MAINNET BEFORE BLOCK 3019000 (about 3 weeks from now) TO REMAIN PROPERLY CONNECTED TO THE VERUS BLOCKCHAIN AS FUTURE LAUNCHES TAKE PLACE

UPGRADE IMMEDIATELY TO PARTICIPATE IN THE vARRR HISTORICAL FIRST PBaaS CHAIN LAUNCH ON THE VERUS NETWORK.

v1.2.2-1 This build enables successful launch of the vARRR blockchain and merge mining / staking along with Verus on mainnet. By enabling the inaugural PBaaS chain launch, this release paves the way for any organization, project, or application to launch their own blockchain on the unlimited scale, multichain Verus network. Based on the activation of launch improvements, we do recommend that new token or chain launches wait for block 3019000 to launch their currencies on the Verus network. The issue in v1.2.2 that prevented acceptance of vARRR’s first block was one launch validation check that was taking the correct path only for testnet and was not caught in all the years of testing. The block was being made correctly, but would inevitably fail validation.

We also found some launch behavior that was not critical, but it was undesired. We would prefer it to be improved in future launches from the Verus blockchain. The related changes will take effect at block 1 of the vARRR blockchain and block 3019000 of Verus mainnet.

This version also includes better lite node change support for mobile, addressed in a previous announcement, coverage of some estimateconversion usage that would previously fail and some minor sync issues for any PBaaS mainnet that could make sync slower in some network edge cases.

As of this announcement, the master source trees are also fully up to date for building by those who self-build. As soon as you are running v1.2.2-1, you will be able to start merge mining and eventually staking vARRR, maybe even get the first block, and participate in the first PBaaS chain launch from Verus mainnet!

Verus ID and NFT Marketplace

Buy and sell VerusIDs on-chain, advertising your offer directly to the owner of an ID or NFT, or posting the sale of your NFT on the worldwide blockchain for all the world to see. Execute transactions in a completely decentralized way. Pay or offer to pay from a transparent or zero-knowledge private address, still auditable by you. Accept payment to either as well, and best of all, execute your transactions directly, peer-to-peer without any intermediary necessary. Don’t worry the on-chain model still makes room for owners to select and share proceeds with value added agents, marketing organizations, or other participants in a new economy of provable digital ownership. It’s the next step in the evolution of VerusID, the most powerful self-sovereign identity and secure storage model for funds in the digital world.

Verus Vault

With Verus Vault you can now protect funds on a VerusID, even from theft of a private key! If you lock your VerusID with Vault you cannot spend funds from that identity at all until it is again unlocked. While locked, you can still stake those same funds on the Verus network and earn by doing so. Of course, you can also still receive funds.

IT IS IMPORTANT TO NOTE THAT ENABLING REVOCATION, RECOVERY, AND ALL VERUS VAULT CAPABILITIES REQUIRE YOU TO HAVE ONE PRIMARY IDENTITY, AND AT LEAST ONE REVOCATION/RECOVERY ID CONFIGURED.

A locked VerusID can always be revoked and recovered by its revocation and recovery authority identities, which circumvents the lock. At the same time, anyone with only the primary keys, even a multisig of primary keys must first unlock, then wait for the predetermined unlock time before they can spend or access funds. This gives you, or maybe a company that specializes in watching the blockchain to whom you've assigned the revocation ID to revoke and recover whenever an unauthorized unlock occurs. That means that like a bank, setting a 24 hour unlock delay on your locked IDs actually provides the first decentralized solution to the infamous 5 dollar wrench attack.

In addition to a new level of blockchain protection and decentralized funds recovery, Verus Vault provides the same security for your IDs and NFTs as well as time locks for other purposes, such as vesting schedules, trusts, and inheritance. With Verus Vault, you can now protect and recover your funds, preserving all your assets and generational blockchain wealth from common forms of crypto loss or theft, no bank required.

New Verus Multicurrency, Multichain, DeFi Enabled Testnet

With an easy GUI for basic operations or command line for more advanced functions. Without any programming, you can now create new identities, currencies, liquidity pools, and blockchains for your business, your government, your projects, a worthy cause, your family, or your next decentralized application suite. Send currencies worldwide on the same chain, or across blockchains with ease. Even convert currencies to others on the network without an exchange by sending to yourself and converting along the way.

The new Verus testnet is a full-featured, intrinsically decentralized multi-chain blockchain platform with an unlimited number of identities, currencies, liquidity pools, and blockchains. It is accessible from the released versions of Verus Desktop and Verus CLI wallets, and it is the beginning of a new age in crypto. There are so many things you can do with Verus that you cannot with any other cryptocurrency platform, and you can try them all today.

As Verus PBaaS offers completely new capabilities that go beyond today’s decentralized platforms in many fundamental ways, the worldwide Verus community put its energy into creation, rather than convincing everyone that its capabilities are possible. Members across the Verus worldwide community have worked hard to make this all possible, and we are more than excited that you can now experience it firsthand. If you have an interest in the future of crypto, you owe it to yourself to learn about Verus, an unlimited scale, decentralized future with truth and privacy for all.

The Verus testnet, available in the Verus Desktop or cli wallets as the VRSCTEST coin, has the following capabilities, which to our knowledge are unique in crypto today.

Self sovereign, revocable, recoverable identities (currently on mainnet) VerusID

• Enables permissionless registration of friendly name strong identities and funds addresses that are simultaneously fully self-sovereign, revocable, and recoverable.

Staking-capable time locking and theft prevention (Verus Vault)

• Enables identities to be locked, preventing any funds under their control from being spent while locked, but still allowing seamless staking of funds. When locked, a user specifies an unlock delay, typically long enough to notice when someone who might have compromised a user’s keys would have to unlock the ID before spending. The only way to circumvent the unlock delay is to revoke and recover an ID. Users may also choose to create and use fresh private keys when unlocking an ID as well. This enables virtually theft proof workflow and a solution to inheritance, trusts, vesting schedules, the 5$ wrench attack, and identity theft. IDs may be used as friendly name cryptocurrency addresses for all currencies on all Verus PBaaS blockchains in the Verus network. The VerusID protocol is a protocol, which can also be implemented on non-Verus systems.

Multi-currency, user created, decentralized tokens and merge-mineable, interoperable blockchains without programming

• Enables any user with an ID to create their own token currency or even full fledged, multi-currency, ID-issuing 50% POW/50% POS, 51% hash attack resistant blockchain that can send and receive from the Verus chain which launched it. All PBaaS chains run from the same daemon, and projects may choose to join the worldwide Verus community in improving the daemon. In doing so, they will start with a complete, multi-currency, ID-capable blockchain with DeFi capabilities that is merge-mineable and stakeable with other blockchains in the Verus network.

Consensus integrated DeFi liquidity pools and fractional currency baskets

• Any ID owner may define Verus DeFi fractional basket currencies with one or more asset currencies backing the liquidity pool at a fractional percentage ranging from 5% to 100% backing. The Verus DeFi protocol ensures that all currency conversions that use a particular liquidity pool and are mined into one block are solved and priced simultaneously, addressing the problems of miner extracted value (MEV) and front-running, while providing fee-based DeFi integrated incentives to miners and stakers, ensuring smooth consensus operation and fee conversion capabilities by integrating DeFi liquidity pools directly into the consensus and cross-chain bridge protocols.

Simultaneous blockchain and blockchain liquidity pool launches

• Launch of a world class, worldwide, merge-mineable blockchain along with a fully decentralized or centralized “bridge” converter liquidity pool as part of defining a new blockchain. Bridge converter currencies have the same flexibility as other fractional 100% asset backed or partially asset backed currencies, but is bound to the launch of the new blockchain, runs on the new blockchain, and all fees generated via cross chain fee conversions or general use of the liquidity pool are earned on the new blockchain with no rent going back to the Verus blockchain, only seamless connectivity.

Blockchain-based, crowdfunding currency launches with minimum participation or automatic refunds, including for dual launches (blockchain and bridge)

• Set required minimum levels of worldwide participation in your preferred currencies on chain. If by the start time of your blockchain, minimums are not met, all participants will automatically get a refund of all of their ...

Announcing Verus v1.2.2 - CRITICAL UPGRADE FOR MAINNET AND TESTNET

v1.2.2 will no longer connect to the existing testnet, as we are starting a new one with an Ethereum bridge to Sepolia, which will also be more similar to mainnet in its currencies. There will be an announcement when the new testnet is available, hopefully within the next 24 hours.

This update includes the new Verus Storage API.

Additionally, v1.2.2 fixes an issue discovered with version 1.2.1-1, which introduced a problem that can cause a node to behave as if it was not yet fully in sync, even though it may be up to date with the chain tip. For this reason, we consider v1.2.2 critical for all users. Please update as soon as possible.

The new Verus Storage capabilities introduced in 1.2.2 bring z-address privacy technology to data, enabling each of us to regain control over our identity and content. In doing so, Verus Storage introduces a better way for both humanity and AI to store, access, and relate to information.

With Verus Storage, every PBaaS chain immediately offers a fee-based storage capability for indexed data on the blockchain. Every PBaaS blockchain will have its specific price for storage, ultimately controlled by miners and stakers and defaulting to about 0.01 of the native coin for permanent storage of 1KB of data. All stored data is encrypted by default, and if no encryption is specified, that simply means the decryption keys will be published on-chain.

This first version of Verus Storage is great for small to medium size data that you believe is worth storing permanently, as it’s limited to a maximum on-chain size of 999,999 bytes. Verus Storage is incredibly versatile, and can be used for VerusID PFPs, HTML content, license agreements, documents. Personally, I will feel comfortable using it for my own data, and even encrypted key storage. Any information you put on-chain is always available to you anywhere you go, as long as you have an internet connection and your 24-word seed phrase. All data stored is either sent as part of a private transaction or added to an ID you control, using the “data'' option.

Encryption is done using the well known ChaCha20-Poly1305 (https://en.wikipedia.org/wiki/ChaCha20-Poly1305) encryption algorithm, with key exchange using Sapling private target addresses and random keys that can be recreated by the viewing key of the target private address. All data is encrypted. Even “public”, published data with no private address target is encrypted to a randomly generated and discarded Sapling address, and the necessary viewing key is then stored along with an indexed link into the publishing VerusID. Since each separate object in a collection of data is encrypted with a different key, all of which may be recreated with a single viewing key, the API enables sharing access to each individual item without ever requiring the master viewing key of the collection itself to be shared.

Verus Storage is built using the existing, extensive functionality of the Verus network, and thus comes into effect as of 1.2.2 with no protocol change or fork. Block producers that upgrade will immediately start accepting data transactions into blocks, which are protocol compliant. That means that after upgrading, data can easily be attached to both private transaction messages and VerusIDs on any PBaaS chain and easily linked cross-chain as well, making it easy to create private/semi-private/public chat groups, share multiple forms of data, and post data publicly or privately on any PBaaS blockchain. Applications can use this new capability to store application data and expose its features in whatever way is best for their users.

Data can be easily stored and accessed across all PBaaS blockchains, even in parallel (ie. data sharding) by those with the keys to do so, introducing a market for permanent storage at scale that every PBaaS chain can compete in or price themselves out of, depending on network, project and community goals. Verus Storage capabilities lay a foundation for PBaaS chain projects with economics designed around advanced storage capabilities, applications and markets.

While the initial target usage is for small to medium sized data at scale, the Verus PBaaS protocol does not have any inherent scale limit across a network of chains, and over time, this protocol, or its evolution, could be used to store and access all of humanity’s digital, privacy-enabled, self-sovereign data over archaeological time scales. As a chain grows, along with its storage requirements, nodes that offer full data access services to any application clients across many chains will likely start offering users or applications access to VerusD-RPC APIs and many chains of data at prices that, due to permissionless competition and provable results, should stabilize to cover a reasonable margin over costs of serving the data. Since offering these kinds of services can also be a provably user rated, peer to peer low cost and high availability content delivery network at scale, we may expect indefinite high availability of stored data, independent of any company or organization, and self-sustaining storage and delivery economics. As this capability is used and evolves, VerusIDs, along with payments and authentication that they enable can be easily used for bandwidth-based micro-payments at a fair cost for node operators, users, and application providers.

Verus PBaaS storage provides permanent, encrypted data storage with high availability and selectively disclosed data collections on any PBaaS blockchain. The blockchain archive will always contain any data that was stored using this API, now and in the future, without requiring rent or a corporate host, and is built on an economic model that supports its continued availability, even as storage technologies evolve.

For now, we expect the encrypted storage capabilities to be used for minting collections, surprise reveals, VerusID profiles, private KYC services, private messages, contracts, and real world asset bindings. With the unlimited scale of a multi-chain PBaaS internet, PBaaS data storage has the potential to provide permanent, self-sovereign, and private data storage for all.

General VerusId, Verus DeFI, and Public Blockchains as a Service (PBAAS) Capabilities

• On-chain Self Sovereign, Provable Identities, NFTs, and Individual or Organizational Profiles
• On-chain Launches of Token, Centralized Currency, and Liquidity Basket AMMs
• On-chain Launches and Merge Mining of Independent, Connected, Interoperable Blockchains without Programming

Verus ID and NFT Marketplace

Buy and sell VerusIDs on-chain, advertising your offer directly to the owner of an ID or NFT, or posting the sale of your NFT on the worldwide blockchain for all the world to see. Execute transactions in a completely decentralized way. Pay or offer to pay from a transparent or zero-knowledge private address, still auditable by you. Accept payment to either as well, and best of all, execute your transactions directly, peer-to-peer without any intermediary necessary. Don’t worry the on-chain model still makes room for owners to select and share proceeds with value added agents, marketing organizations, or other participants in a new economy of provable digital ownership. It’s the next step in the evolution of VerusID, the most powerful self-sovereign identity and secure storage model for funds in the digital world.

Verus Vault

With Verus Vault you can now protect funds on a VerusID, even from theft of a private key! If you lock your VerusID with Vault you cannot spend funds from that identity at all until it is again unlocked. While locked, you can still stake those same funds on the Verus network and earn by doing so. Of course, you can also still receive funds.

IT IS IMPORTANT TO NOTE THAT ENABLING REVOCATION, RECOVERY, AND ALL VERUS VAULT CAPABILITIES REQUIRE YOU TO HAVE ONE PRIMARY IDENTITY, AND AT LEAST ONE REVOCATION/RECOVERY ID CONFIGURED.

A locked VerusID can always be revoked and recovered by its revocation and recovery authority identities, which circumvents the lock. At the same time, anyone with only the primary keys, even a multisig of primary keys must first unlock, then wait for the predetermined unlock time before they can spend or access funds. This gives you, or maybe a company that specializes in watching the blockchain to whom you've assigned the revocation ID to revoke and recover whenever an unauthorized unlock occurs. That means that like a bank, setting a 24 hour unlock delay on your locked IDs actually provides the first decentralized solution to the infamous 5 dollar wrench attack.

In addition to a new level of blockchain protection and decentralized funds recovery, Verus Vault provides the same security for your IDs and NFTs as well as time locks for other purposes, such as vesting schedules, trusts, and inheritance. With Verus Vault, you can now protect and recover your funds, preserving all your assets and generational blockchain wealth from common forms of crypto loss or theft, no bank required.

New Verus Multicurrency, Multichain, DeFi Enabled Testnet

With an easy GUI for basic operations or command line for more advanced functions. Without any programming, you can now create new identities, currencies, liquidity pools, and blockchains for your business, your government, your projects, a worthy cause, your family, or your next decentralized application suite. Send currencies worldwide on the same chain, or across blockchains with ease. Even convert currencies to others on the network without an exchange by sending to yourself and converting along the way.

The new Verus testnet is a full-featured, intrinsically decentralized multi-chain blockchain platform with an unlimited number of identities, currencies, liquidity pools, and blockchains. It is accessible from the released versions of Verus Desktop and Verus ...

Announcing Verus v1.2.1-1 - NON-MANDATORY, RECOMMENDED UPGRADE, CRITICAL TO USE FOR DEFINING NEW CURRENCIES OR BLOCKCHAINS
This release resolves an issue preventing a currency's start block from being set past a currency definition's expiry height.
V1.2.1-1 also Improves blockchain sync speed and reduced download traffic during initial block download.

What's New:

1. Improved initial block download speed and traffic.
2. Improved data cleanup on shutdown

In addition, v1.2.1-1 also has some technology preview features for a new data signing with encryption capability. There will be more details on these new features in an upcoming release when they are more complete.

General VerusId, Verus DeFI, and Public Blockchains as a Service (PBAAS) Capabilities

• On-chain Self Sovereign, Provable Identities, NFTs, and Individual or Organizational Profiles
• On-chain Launches of Token, Centralized Currency, and Liquidity Basket AMMs
• On-chain Launches and Merge Mining of Independent, Connected, Interoperable Blockchains without Programming

Verus ID and NFT Marketplace

Buy and sell VerusIDs on-chain, advertising your offer directly to the owner of an ID or NFT, or posting the sale of your NFT on the worldwide blockchain for all the world to see. Execute transactions in a completely decentralized way. Pay or offer to pay from a transparent or zero-knowledge private address, still auditable by you. Accept payment to either as well, and best of all, execute your transactions directly, peer-to-peer without any intermediary necessary. Don’t worry the on-chain model still makes room for owners to select and share proceeds with value added agents, marketing organizations, or other participants in a new economy of provable digital ownership. It’s the next step in the evolution of VerusID, the most powerful self-sovereign identity and secure storage model for funds in the digital world.

Verus Vault

With Verus Vault you can now protect funds on a VerusID, even from theft of a private key! If you lock your VerusID with Vault you cannot spend funds from that identity at all until it is again unlocked. While locked, you can still stake those same funds on the Verus network and earn by doing so. Of course, you can also still receive funds.

IT IS IMPORTANT TO NOTE THAT ENABLING REVOCATION, RECOVERY, AND ALL VERUS VAULT CAPABILITIES REQUIRE YOU TO HAVE ONE PRIMARY IDENTITY, AND AT LEAST ONE REVOCATION/RECOVERY ID CONFIGURED.

A locked VerusID can always be revoked and recovered by its revocation and recovery authority identities, which circumvents the lock. At the same time, anyone with only the primary keys, even a multisig of primary keys must first unlock, then wait for the predetermined unlock time before they can spend or access funds. This gives you, or maybe a company that specializes in watching the blockchain to whom you've assigned the revocation ID to revoke and recover whenever an unauthorized unlock occurs. That means that like a bank, setting a 24 hour unlock delay on your locked IDs actually provides the first decentralized solution to the infamous 5 dollar wrench attack.

In addition to a new level of blockchain protection and decentralized funds recovery, Verus Vault provides the same security for your IDs and NFTs as well as time locks for other purposes, such as vesting schedules, trusts, and inheritance. With Verus Vault, you can now protect and recover your funds, preserving all your assets and generational blockchain wealth from common forms of crypto loss or theft, no bank required.

New Verus Multicurrency, Multichain, DeFi Enabled Testnet

With an easy GUI for basic operations or command line for more advanced functions. Without any programming, you can now create new identities, currencies, liquidity pools, and blockchains for your business, your government, your projects, a worthy cause, your family, or your next decentralized application suite. Send currencies worldwide on the same chain, or across blockchains with ease. Even convert currencies to others on the network without an exchange by sending to yourself and converting along the way.

The new Verus testnet is a full-featured, intrinsically decentralized multi-chain blockchain platform with an unlimited number of identities, currencies, liquidity pools, and blockchains. It is accessible from the released versions of Verus Desktop and Verus CLI wallets, and it is the beginning of a new age in crypto. There are so many things you can do with Verus that you cannot with any other cryptocurrency platform, and you can try them all today.

As Verus PBaaS offers completely new capabilities that go beyond today’s decentralized platforms in many fundamental ways, the worldwide Verus community put its energy into creation, rather than convincing everyone that its capabilities are possible. Members across the Verus worldwide community have worked hard to make this all possible, and we are more than excited that you can now experience it firsthand. If you have an interest in the future of crypto, you owe it to yourself to learn about Verus, an unlimited scale, decentralized future with truth and privacy for all.

The Verus testnet, available in the Verus Desktop or cli wallets as the VRSCTEST coin, has the following capabilities, which to our knowledge are unique in crypto today.

Self sovereign, revocable, recoverable identities (currently on mainnet) VerusID

• Enables permissionless registration of friendly name strong identities and funds addresses that are simultaneously fully self-sovereign, revocable, and recoverable.

Staking-capable time locking and theft prevention (Verus Vault)

• Enables identities to be locked, preventing any funds under their control from being spent while locked, but still allowing seamless staking of funds. When locked, a user specifies an unlock delay, typically long enough to notice when someone who might have compromised a user’s keys would have to unlock the ID before spending. The only way to circumvent the unlock delay is to revoke and recover an ID. Users may also choose to create and use fresh private keys when unlocking an ID as well. This enables virtually theft proof workflow and a solution to inheritance, trusts, vesting schedules, the 5$ wrench attack, and identity theft. IDs may be used as friendly name cryptocurrency addresses for all currencies on all Verus PBaaS blockchains in the Verus network. The VerusID protocol is a protocol, which can also be implemented on non-Verus systems.

Multi-currency, user created, decentralized tokens and merge-mineable, interoperable blockchains without programming

• Enables any user with an ID to create their own token currency or even full fledged, multi-currency, ID-issuing 50% POW/50% POS, 51% hash attack resistant blockchain that can send and receive from the Verus chain which launched it. All PBaaS chains run from the same daemon, and projects may choose to join the worldwide Verus community in improving the daemon. In doing so, they will start with a complete, multi-currency, ID-capable blockchain with DeFi capabilities that is merge-mineable and stakeable with other blockchains in the Verus network.

Consensus integrated DeFi liquidity pools and fractional currency baskets

• Any ID owner may define Verus DeFi fractional basket currencies with one or more asset currencies backing the liquidity pool at a fractional percentage ranging from 5% to 100% backing. The Verus DeFi protocol ensures that all currency conversions that use a particular liquidity pool and are mined into one block are solved and priced simultaneously, addressing the problems of miner extracted value (MEV) and front-running, while providing fee-based DeFi integrated incentives to miners and stakers, ensuring smooth consensus operation and fee conversion capabilities by integrating DeFi liquidity pools directly into the consensus and cross-chain bridge protocols.

Simultaneous blockchain and blockchain liquidity pool launches

• Launch of a world class, worldwide, merge-mineable blockchain along with a fully decentralized or centralized “bridge” converter liquidity pool as part of defining a new blockchain. Bridge converter currencies have the same flexibility as other fractional 100% asset backed or partially asset backed currencies, but is bound to the launch of the new blockchain, runs on the new blockchain, and all fees generated via cross chain fee conversions or general use of the liquidity pool are earned on the new blockchain with no rent going back to the Verus blockchain, only seamless connectivity.

Blockchain-based, crowdfunding currency launches with minimum participation or automatic refunds, including for dual launches (blockchain and bridge)

• Set required minimum levels of worldwide participation in your preferred currencies on chain. If by the start time of your blockchain, minimums are not met, all participants will automatically get a refund of all of their pre-conversions, less the network fees. The launch options also provide for maximum participation in one or more currencies, pre-launch discounts, price neutral pre-allocations to select IDs that increase the fractional reserve ratio to issue currencies, similarly price neutral carve-outs of proceeds, and pre-launch discounts for early participants. Using VerusIDs, launches can also include vesting schedules in the pre-allocations as well.

An interoperable, multichain network for new use cases and unlimited scale**

• The Verus multi-currency, multi-chain network allows the creation of an unlimited number of interoperable blockchains in the Verus network. Notary IDs, specified at chain definition, provide decentralized blockchain-specific bridge confirmation, enabling public blockchains available to the world for merge mining and staking, as well as private, internal blockchains, which are easy to setup with easy bridging of public currencies into an...

Announcing Verus v1.2.1 - NON-MANDATORY, RECOMMENDED UPGRADE, CRITICAL FOR CROSS-CHAIN WITNESSES TO UPGRADE BEFORE BLOCK 2930000

What’s new

1. Added expiryheight option to the definecurrency API to facilitate multi-signature currency definitions.
2. Updated documentation for definecurrency
3. Fixed queries for prelaunch currencies.
4. Zero value UTXOs are now skipped when funding a transaction.

There are no protocol or other changes for v1.2.1.

General VerusId, Verus DeFI, and Public Blockchains as a Service (PBAAS) Capabilities

• On-chain Self Sovereign, Provable Identities, NFTs, and Individual or Organizational Profiles
• On-chain Launches of Token, Centralized Currency, and Liquidity Basket AMMs
• On-chain Launches and Merge Mining of Independent, Connected, Interoperable Blockchains without Programming

Verus ID and NFT Marketplace

Buy and sell VerusIDs on-chain, advertising your offer directly to the owner of an ID or NFT, or posting the sale of your NFT on the worldwide blockchain for all the world to see. Execute transactions in a completely decentralized way. Pay or offer to pay from a transparent or zero-knowledge private address, still auditable by you. Accept payment to either as well, and best of all, execute your transactions directly, peer-to-peer without any intermediary necessary. Don’t worry the on-chain model still makes room for owners to select and share proceeds with value added agents, marketing organizations, or other participants in a new economy of provable digital ownership. It’s the next step in the evolution of VerusID, the most powerful self-sovereign identity and secure storage model for funds in the digital world.

Verus Vault

With Verus Vault you can now protect funds on a VerusID, even from theft of a private key! If you lock your VerusID with Vault you cannot spend funds from that identity at all until it is again unlocked. While locked, you can still stake those same funds on the Verus network and earn by doing so. Of course, you can also still receive funds.

IT IS IMPORTANT TO NOTE THAT ENABLING REVOCATION, RECOVERY, AND ALL VERUS VAULT CAPABILITIES REQUIRE YOU TO HAVE ONE PRIMARY IDENTITY, AND AT LEAST ONE REVOCATION/RECOVERY ID CONFIGURED.

A locked VerusID can always be revoked and recovered by its revocation and recovery authority identities, which circumvents the lock. At the same time, anyone with only the primary keys, even a multisig of primary keys must first unlock, then wait for the predetermined unlock time before they can spend or access funds. This gives you, or maybe a company that specializes in watching the blockchain to whom you've assigned the revocation ID to revoke and recover whenever an unauthorized unlock occurs. That means that like a bank, setting a 24 hour unlock delay on your locked IDs actually provides the first decentralized solution to the infamous 5 dollar wrench attack.

In addition to a new level of blockchain protection and decentralized funds recovery, Verus Vault provides the same security for your IDs and NFTs as well as time locks for other purposes, such as vesting schedules, trusts, and inheritance. With Verus Vault, you can now protect and recover your funds, preserving all your assets and generational blockchain wealth from common forms of crypto loss or theft, no bank required.

New Verus Multicurrency, Multichain, DeFi Enabled Testnet

With an easy GUI for basic operations or command line for more advanced functions. Without any programming, you can now create new identities, currencies, liquidity pools, and blockchains for your business, your government, your projects, a worthy cause, your family, or your next decentralized application suite. Send currencies worldwide on the same chain, or across blockchains with ease. Even convert currencies to others on the network without an exchange by sending to yourself and converting along the way.

The new Verus testnet is a full-featured, intrinsically decentralized multi-chain blockchain platform with an unlimited number of identities, currencies, liquidity pools, and blockchains. It is accessible from the released versions of Verus Desktop and Verus CLI wallets, and it is the beginning of a new age in crypto. There are so many things you can do with Verus that you cannot with any other cryptocurrency platform, and you can try them all today.

As Verus PBaaS offers completely new capabilities that go beyond today’s decentralized platforms in many fundamental ways, the worldwide Verus community put its energy into creation, rather than convincing everyone that its capabilities are possible. Members across the Verus worldwide community have worked hard to make this all possible, and we are more than excited that you can now experience it firsthand. If you have an interest in the future of crypto, you owe it to yourself to learn about Verus, an unlimited scale, decentralized future with truth and privacy for all.

The Verus testnet, available in the Verus Desktop or cli wallets as the VRSCTEST coin, has the following capabilities, which to our knowledge are unique in crypto today.

Self sovereign, revocable, recoverable identities (currently on mainnet) VerusID

• Enables permissionless registration of friendly name strong identities and funds addresses that are simultaneously fully self-sovereign, revocable, and recoverable.

Staking-capable time locking and theft prevention (Verus Vault)

• Enables identities to be locked, preventing any funds under their control from being spent while locked, but still allowing seamless staking of funds. When locked, a user specifies an unlock delay, typically long enough to notice when someone who might have compromised a user’s keys would have to unlock the ID before spending. The only way to circumvent the unlock delay is to revoke and recover an ID. Users may also choose to create and use fresh private keys when unlocking an ID as well. This enables virtually theft proof workflow and a solution to inheritance, trusts, vesting schedules, the 5$ wrench attack, and identity theft. IDs may be used as friendly name cryptocurrency addresses for all currencies on all Verus PBaaS blockchains in the Verus network. The VerusID protocol is a protocol, which can also be implemented on non-Verus systems.

Multi-currency, user created, decentralized tokens and merge-mineable, interoperable blockchains without programming

• Enables any user with an ID to create their own token currency or even full fledged, multi-currency, ID-issuing 50% POW/50% POS, 51% hash attack resistant blockchain that can send and receive from the Verus chain which launched it. All PBaaS chains run from the same daemon, and projects may choose to join the worldwide Verus community in improving the daemon. In doing so, they will start with a complete, multi-currency, ID-capable blockchain with DeFi capabilities that is merge-mineable and stakeable with other blockchains in the Verus network.

Consensus integrated DeFi liquidity pools and fractional currency baskets

• Any ID owner may define Verus DeFi fractional basket currencies with one or more asset currencies backing the liquidity pool at a fractional percentage ranging from 5% to 100% backing. The Verus DeFi protocol ensures that all currency conversions that use a particular liquidity pool and are mined into one block are solved and priced simultaneously, addressing the problems of miner extracted value (MEV) and front-running, while providing fee-based DeFi integrated incentives to miners and stakers, ensuring smooth consensus operation and fee conversion capabilities by integrating DeFi liquidity pools directly into the consensus and cross-chain bridge protocols.

Simultaneous blockchain and blockchain liquidity pool launches

• Launch of a world class, worldwide, merge-mineable blockchain along with a fully decentralized or centralized “bridge” converter liquidity pool as part of defining a new blockchain. Bridge converter currencies have the same flexibility as other fractional 100% asset backed or partially asset backed currencies, but is bound to the launch of the new blockchain, runs on the new blockchain, and all fees generated via cross chain fee conversions or general use of the liquidity pool are earned on the new blockchain with no rent going back to the Verus blockchain, only seamless connectivity.

Blockchain-based, crowdfunding currency launches with minimum participation or automatic refunds, including for dual launches (blockchain and bridge)

• Set required minimum levels of worldwide participation in your preferred currencies on chain. If by the start time of your blockchain, minimums are not met, all participants will automatically get a refund of all of their pre-conversions, less the network fees. The launch options also provide for maximum participation in one or more currencies, pre-launch discounts, price neutral pre-allocations to select IDs that increase the fractional reserve ratio to issue currencies, similarly price neutral carve-outs of proceeds, and pre-launch discounts for early participants. Using VerusIDs, launches can also include vesting schedules in the pre-allocations as well.

An interoperable, multichain network for new use cases and unlimited scale**

• The Verus multi-currency, multi-chain network allows the creation of an unlimited number of interoperable blockchains in the Verus network. Notary IDs, specified at chain definition, provide decentralized blockchain-specific bridge confirmation, enabling public blockchains available to the world for merge mining and staking, as well as private, internal blockchains, which are easy to setup with easy bridging of public currencies into an organization and onto their internal private network and back, with all features and currencies of the public chain but none of the access. There is no limit on the number of blockchains that may continuously operat...

Announcing Verus v1.2.0-2 - MANDATORY UPDATE FOR MAINNET AND TESTNET IN PREPARATION FOR PBaaS CHAIN LAUNCH

IT IS IMPORTANT TO BE UPGRADED TO VERSION 1.2.0-2 BEFORE THE ACTIVATION (NOT NECESSARILY DEFINITION) OF A NEW PBaaS CHAIN ON MAINNET!

What’s new

1. Additional parameter parsing fix for getcurrencyconverters when used from the GUI desktop or upcoming release of Verus Mobile
2. Smooths a very rare conflict case that can occur in a degenerate situation combined with cross-chain PBaaS notarization. If you are not updated and this degenerate case occurs on a launched and active PBaaS chain, you may fork from the network.
3. This release now includes bootstrap capabilities for testnet in addition to the normal bootstrap capabilities for mainnet.

There are no protocol or other changes for v1.2.0-2. All systems go, and we are now ready for some upcoming PBaaS launches, so let’s all upgrade and go!

General VerusId, Verus DeFI, and Public Blockchains as a Service (PBAAS) Capabilities

• On-chain Self Sovereign, Provable Identities, NFTs, and Individual or Organizational Profiles
• On-chain Launches of Token, Centralized Currency, and Liquidity Basket AMMs
• On-chain Launches and Merge Mining of Independent, Connected, Interoperable Blockchains without Programming

Verus ID and NFT Marketplace

Buy and sell VerusIDs on-chain, advertising your offer directly to the owner of an ID or NFT, or posting the sale of your NFT on the worldwide blockchain for all the world to see. Execute transactions in a completely decentralized way. Pay or offer to pay from a transparent or zero-knowledge private address, still auditable by you. Accept payment to either as well, and best of all, execute your transactions directly, peer-to-peer without any intermediary necessary. Don’t worry the on-chain model still makes room for owners to select and share proceeds with value added agents, marketing organizations, or other participants in a new economy of provable digital ownership. It’s the next step in the evolution of VerusID, the most powerful self-sovereign identity and secure storage model for funds in the digital world.

Verus Vault

With Verus Vault you can now protect funds on a VerusID, even from theft of a private key! If you lock your VerusID with Vault you cannot spend funds from that identity at all until it is again unlocked. While locked, you can still stake those same funds on the Verus network and earn by doing so. Of course, you can also still receive funds.

IT IS IMPORTANT TO NOTE THAT ENABLING REVOCATION, RECOVERY, AND ALL VERUS VAULT CAPABILITIES REQUIRE YOU TO HAVE ONE PRIMARY IDENTITY, AND AT LEAST ONE REVOCATION/RECOVERY ID CONFIGURED.

A locked VerusID can always be revoked and recovered by its revocation and recovery authority identities, which circumvents the lock. At the same time, anyone with only the primary keys, even a multisig of primary keys must first unlock, then wait for the predetermined unlock time before they can spend or access funds. This gives you, or maybe a company that specializes in watching the blockchain to whom you've assigned the revocation ID to revoke and recover whenever an unauthorized unlock occurs. That means that like a bank, setting a 24 hour unlock delay on your locked IDs actually provides the first decentralized solution to the infamous 5 dollar wrench attack.

In addition to a new level of blockchain protection and decentralized funds recovery, Verus Vault provides the same security for your IDs and NFTs as well as time locks for other purposes, such as vesting schedules, trusts, and inheritance. With Verus Vault, you can now protect and recover your funds, preserving all your assets and generational blockchain wealth from common forms of crypto loss or theft, no bank required.

New Verus Multicurrency, Multichain, DeFi Enabled Testnet

With an easy GUI for basic operations or command line for more advanced functions. Without any programming, you can now create new identities, currencies, liquidity pools, and blockchains for your business, your government, your projects, a worthy cause, your family, or your next decentralized application suite. Send currencies worldwide on the same chain, or across blockchains with ease. Even convert currencies to others on the network without an exchange by sending to yourself and converting along the way.

The new Verus testnet is a full-featured, intrinsically decentralized multi-chain blockchain platform with an unlimited number of identities, currencies, liquidity pools, and blockchains. It is accessible from the released versions of Verus Desktop and Verus CLI wallets, and it is the beginning of a new age in crypto. There are so many things you can do with Verus that you cannot with any other cryptocurrency platform, and you can try them all today.

As Verus PBaaS offers completely new capabilities that go beyond today’s decentralized platforms in many fundamental ways, the worldwide Verus community put its energy into creation, rather than convincing everyone that its capabilities are possible. Members across the Verus worldwide community have worked hard to make this all possible, and we are more than excited that you can now experience it firsthand. If you have an interest in the future of crypto, you owe it to yourself to learn about Verus, an unlimited scale, decentralized future with truth and privacy for all.

The Verus testnet, available in the Verus Desktop or cli wallets as the VRSCTEST coin, has the following capabilities, which to our knowledge are unique in crypto today.

Self sovereign, revocable, recoverable identities (currently on mainnet) VerusID

• Enables permissionless registration of friendly name strong identities and funds addresses that are simultaneously fully self-sovereign, revocable, and recoverable.

Staking-capable time locking and theft prevention (Verus Vault)

• Enables identities to be locked, preventing any funds under their control from being spent while locked, but still allowing seamless staking of funds. When locked, a user specifies an unlock delay, typically long enough to notice when someone who might have compromised a user’s keys would have to unlock the ID before spending. The only way to circumvent the unlock delay is to revoke and recover an ID. Users may also choose to create and use fresh private keys when unlocking an ID as well. This enables virtually theft proof workflow and a solution to inheritance, trusts, vesting schedules, the 5$ wrench attack, and identity theft. IDs may be used as friendly name cryptocurrency addresses for all currencies on all Verus PBaaS blockchains in the Verus network. The VerusID protocol is a protocol, which can also be implemented on non-Verus systems.

Multi-currency, user created, decentralized tokens and merge-mineable, interoperable blockchains without programming

• Enables any user with an ID to create their own token currency or even full fledged, multi-currency, ID-issuing 50% POW/50% POS, 51% hash attack resistant blockchain that can send and receive from the Verus chain which launched it. All PBaaS chains run from the same daemon, and projects may choose to join the worldwide Verus community in improving the daemon. In doing so, they will start with a complete, multi-currency, ID-capable blockchain with DeFi capabilities that is merge-mineable and stakeable with other blockchains in the Verus network.

Consensus integrated DeFi liquidity pools and fractional currency baskets

• Any ID owner may define Verus DeFi fractional basket currencies with one or more asset currencies backing the liquidity pool at a fractional percentage ranging from 5% to 100% backing. The Verus DeFi protocol ensures that all currency conversions that use a particular liquidity pool and are mined into one block are solved and priced simultaneously, addressing the problems of miner extracted value (MEV) and front-running, while providing fee-based DeFi integrated incentives to miners and stakers, ensuring smooth consensus operation and fee conversion capabilities by integrating DeFi liquidity pools directly into the consensus and cross-chain bridge protocols.

Simultaneous blockchain and blockchain liquidity pool launches

• Launch of a world class, worldwide, merge-mineable blockchain along with a fully decentralized or centralized “bridge” converter liquidity pool as part of defining a new blockchain. Bridge converter currencies have the same flexibility as other fractional 100% asset backed or partially asset backed currencies, but is bound to the launch of the new blockchain, runs on the new blockchain, and all fees generated via cross chain fee conversions or general use of the liquidity pool are earned on the new blockchain with no rent going back to the Verus blockchain, only seamless connectivity.

Blockchain-based, crowdfunding currency launches with minimum participation or automatic refunds, including for dual launches (blockchain and bridge)

• Set required minimum levels of worldwide participation in your preferred currencies on chain. If by the start time of your blockchain, minimums are not met, all participants will automatically get a refund of all of their pre-conversions, less the network fees. The launch options also provide for maximum participation in one or more currencies, pre-launch discounts, price neutral pre-allocations to select IDs that increase the fractional reserve ratio to issue currencies, similarly price neutral carve-outs of proceeds, and pre-launch discounts for early participants. Using VerusIDs, launches can also include vesting schedules in the pre-allocations as well.

An interoperable, multichain network for new use cases and unlimited scale**

• The Verus multi-currency, multi-chain network allows the creation of an unlimited number of interoperable blockchains in the Verus network. Notary IDs, specified at chain definition, provide decent...

Announcing Verus v1.2.0-1 - NON-MANDATORY UPDATE RECOMMENDED FOR MINERS AND STAKERS ON MAINNET AND TESTNET

What’s new

1. Fixes parameter parsing for getcurrencyconverters when used from the GUI desktop or upcoming release of Verus Mobile
2. Fixes a very rare potential seg-fault that can happen in cases of validating and running bridgekeeper
3. Enables an optional arbitragecurrenciesparameter for starting the daemon that may be easier to use when starting on Windows and adds both -arbitragecurrencies and -arbitrageaddress parameters to verusd help

There are no protocol or other changes for v1.2.0-1

General VerusId, Verus DeFI, and Public Blockchains as a Service (PBAAS) Capabilities

• On-chain Self Sovereign, Provable Identities, NFTs, and Individual or Organizational Profiles
• On-chain Launches of Token, Centralized Currency, and Liquidity Basket AMMs
• On-chain Launches and Merge Mining of Independent, Connected, Interoperable Blockchains without Programming

Verus ID and NFT Marketplace

Buy and sell VerusIDs on-chain, advertising your offer directly to the owner of an ID or NFT, or posting the sale of your NFT on the worldwide blockchain for all the world to see. Execute transactions in a completely decentralized way. Pay or offer to pay from a transparent or zero-knowledge private address, still auditable by you. Accept payment to either as well, and best of all, execute your transactions directly, peer-to-peer without any intermediary necessary. Don’t worry the on-chain model still makes room for owners to select and share proceeds with value added agents, marketing organizations, or other participants in a new economy of provable digital ownership. It’s the next step in the evolution of VerusID, the most powerful self-sovereign identity and secure storage model for funds in the digital world.

Verus Vault

With Verus Vault you can now protect funds on a VerusID, even from theft of a private key! If you lock your VerusID with Vault you cannot spend funds from that identity at all until it is again unlocked. While locked, you can still stake those same funds on the Verus network and earn by doing so. Of course, you can also still receive funds.

IT IS IMPORTANT TO NOTE THAT ENABLING REVOCATION, RECOVERY, AND ALL VERUS VAULT CAPABILITIES REQUIRE YOU TO HAVE ONE PRIMARY IDENTITY, AND AT LEAST ONE REVOCATION/RECOVERY ID CONFIGURED.

A locked VerusID can always be revoked and recovered by its revocation and recovery authority identities, which circumvents the lock. At the same time, anyone with only the primary keys, even a multisig of primary keys must first unlock, then wait for the predetermined unlock time before they can spend or access funds. This gives you, or maybe a company that specializes in watching the blockchain to whom you've assigned the revocation ID to revoke and recover whenever an unauthorized unlock occurs. That means that like a bank, setting a 24 hour unlock delay on your locked IDs actually provides the first decentralized solution to the infamous 5 dollar wrench attack.

In addition to a new level of blockchain protection and decentralized funds recovery, Verus Vault provides the same security for your IDs and NFTs as well as time locks for other purposes, such as vesting schedules, trusts, and inheritance. With Verus Vault, you can now protect and recover your funds, preserving all your assets and generational blockchain wealth from common forms of crypto loss or theft, no bank required.

New Verus Multicurrency, Multichain, DeFi Enabled Testnet

With an easy GUI for basic operations or command line for more advanced functions. Without any programming, you can now create new identities, currencies, liquidity pools, and blockchains for your business, your government, your projects, a worthy cause, your family, or your next decentralized application suite. Send currencies worldwide on the same chain, or across blockchains with ease. Even convert currencies to others on the network without an exchange by sending to yourself and converting along the way.

The new Verus testnet is a full-featured, intrinsically decentralized multi-chain blockchain platform with an unlimited number of identities, currencies, liquidity pools, and blockchains. It is accessible from the released versions of Verus Desktop and Verus CLI wallets, and it is the beginning of a new age in crypto. There are so many things you can do with Verus that you cannot with any other cryptocurrency platform, and you can try them all today.

As Verus PBaaS offers completely new capabilities that go beyond today’s decentralized platforms in many fundamental ways, the worldwide Verus community put its energy into creation, rather than convincing everyone that its capabilities are possible. Members across the Verus worldwide community have worked hard to make this all possible, and we are more than excited that you can now experience it firsthand. If you have an interest in the future of crypto, you owe it to yourself to learn about Verus, an unlimited scale, decentralized future with truth and privacy for all.

The Verus testnet, available in the Verus Desktop or cli wallets as the VRSCTEST coin, has the following capabilities, which to our knowledge are unique in crypto today.

Self sovereign, revocable, recoverable identities (currently on mainnet) VerusID

• Enables permissionless registration of friendly name strong identities and funds addresses that are simultaneously fully self-sovereign, revocable, and recoverable.

Staking-capable time locking and theft prevention (Verus Vault)

• Enables identities to be locked, preventing any funds under their control from being spent while locked, but still allowing seamless staking of funds. When locked, a user specifies an unlock delay, typically long enough to notice when someone who might have compromised a user’s keys would have to unlock the ID before spending. The only way to circumvent the unlock delay is to revoke and recover an ID. Users may also choose to create and use fresh private keys when unlocking an ID as well. This enables virtually theft proof workflow and a solution to inheritance, trusts, vesting schedules, the 5$ wrench attack, and identity theft. IDs may be used as friendly name cryptocurrency addresses for all currencies on all Verus PBaaS blockchains in the Verus network. The VerusID protocol is a protocol, which can also be implemented on non-Verus systems.

Multi-currency, user created, decentralized tokens and merge-mineable, interoperable blockchains without programming

• Enables any user with an ID to create their own token currency or even full fledged, multi-currency, ID-issuing 50% POW/50% POS, 51% hash attack resistant blockchain that can send and receive from the Verus chain which launched it. All PBaaS chains run from the same daemon, and projects may choose to join the worldwide Verus community in improving the daemon. In doing so, they will start with a complete, multi-currency, ID-capable blockchain with DeFi capabilities that is merge-mineable and stakeable with other blockchains in the Verus network.

Consensus integrated DeFi liquidity pools and fractional currency baskets

• Any ID owner may define Verus DeFi fractional basket currencies with one or more asset currencies backing the liquidity pool at a fractional percentage ranging from 5% to 100% backing. The Verus DeFi protocol ensures that all currency conversions that use a particular liquidity pool and are mined into one block are solved and priced simultaneously, addressing the problems of miner extracted value (MEV) and front-running, while providing fee-based DeFi integrated incentives to miners and stakers, ensuring smooth consensus operation and fee conversion capabilities by integrating DeFi liquidity pools directly into the consensus and cross-chain bridge protocols.

Simultaneous blockchain and blockchain liquidity pool launches

• Launch of a world class, worldwide, merge-mineable blockchain along with a fully decentralized or centralized “bridge” converter liquidity pool as part of defining a new blockchain. Bridge converter currencies have the same flexibility as other fractional 100% asset backed or partially asset backed currencies, but is bound to the launch of the new blockchain, runs on the new blockchain, and all fees generated via cross chain fee conversions or general use of the liquidity pool are earned on the new blockchain with no rent going back to the Verus blockchain, only seamless connectivity.

Blockchain-based, crowdfunding currency launches with minimum participation or automatic refunds, including for dual launches (blockchain and bridge)

• Set required minimum levels of worldwide participation in your preferred currencies on chain. If by the start time of your blockchain, minimums are not met, all participants will automatically get a refund of all of their pre-conversions, less the network fees. The launch options also provide for maximum participation in one or more currencies, pre-launch discounts, price neutral pre-allocations to select IDs that increase the fractional reserve ratio to issue currencies, similarly price neutral carve-outs of proceeds, and pre-launch discounts for early participants. Using VerusIDs, launches can also include vesting schedules in the pre-allocations as well.

An interoperable, multichain network for new use cases and unlimited scale**

• The Verus multi-currency, multi-chain network allows the creation of an unlimited number of interoperable blockchains in the Verus network. Notary IDs, specified at chain definition, provide decentralized blockchain-specific bridge confirmation, enabling public blockchains available to the world for merge mining and staking, as well as private, internal blockchains, which are easy to setup with easy bridging of public currencies into an organization and onto their internal private network and back, ...

Announcing Verus v1.2.0 - MANDATORY FEATURE UPDATE (AUTO-ARBITRAGE FOR MINERS AND STAKERS) FOR MAINNET AND TESTNET

UPGRADE TO v1.2.0 OR LATER IS MANDATORY FOR ALL NEW PBAAS CHAIN LAUNCHES AND CONTINUED NETWORK SYNCHRONIZATION BY THE FOLLOWING BLOCK/TIME:

MAINNET: Block 2873057, estimated on Wed 10 Jan 2024 18:00:00 UTC
TESTNET: Block 350468, estimated on Fri 29 Dec 2023 18:00:00 UTC

Happy Holidays from everyone involved in this release to all the Verus Community! 🎄 🕎 ❄️ 🎁

What’s new

1. A protocol change to enable auto-arbitrage and basic support for auto-arbitrage that uses the on-chain P2P marketplace of limit orders to crowdsource liquidity for Verus DeFi liquidity baskets.

2. Will not allow you to post an offer for an ID that cannot be accepted due to not including all necessary signatures from revocation and recovery authorities or having tokenized ID control (in that case, you must make an offer for the token).

3. Fixes a rare potential seg-fault that can happen in cases of validating with specific transactions that were once valid and become invalid.

Auto-arbitrage Feature Discussion

As most in the community know, Verus DeFi solves all transactions in any liquidity basket that are mined into one or more blocks simultaneously, ensuring that all conversions get exactly the same fair price as everyone else in the same one or more blocks without enabling miners or stakers to get preferred pricing at the expense of those converting (referred to on all other protocols, none of which solved this issue by a simultaneous solution, as MEV). Verus is the first system to solve MEV in either TradFi or DeFi to our knowledge, arguably being the first actual decentralized finance where all operations are enforced in the L1 consensus layer, not in various programs deployed by and sending rent to centralized app teams or companies.

At the same time, the Verus DeFi protocol still enables people using it to engage in beneficial arbitrage, joining bundles of transactions, not front-running or sandwiching, to keep the conversion rates consistent with other on-chain markets and baskets, markets on PBaaS or external chains, and even off-chain centralized markets. Typically, arbitraging between any two markets entails some amount of risk to the arbitrager, since it is generally impossible to know that both sides of an arbitrage operation, for example a buy in one market and a sell in another, will actually take place when orders must be placed independently.

In most cryptocurrency networks, centralized teams deploy and extract rent from smart contracts that are basically programs running on a shared, decentralized computer and referred to as “DeFi”. These networks typically enable advanced developers to engage in parasitic MEV and adopt a complex consensus model to reduce or eliminate the risk to such advanced developers by enabling what they call “block building”, where the MEV exploiters can build entire blocks with all transactions to reduce or eliminate their risk when taking money from the people using those apps by ensuring they can front-run or sandwich transactions. This has created competition among these exploiters where they now sometimes return some of the funds earned from MEV to the users they take it from, thereby claiming that they “solve” MEV by not taking all of the MEV in all cases.

As we already know, Verus is different and built as a fair, rent-free protocol that is good for users and liquidity providers by preventing this exploitative MEV. With the new auto-arbitrage capability in Verus 1.2.0, Verus miners and stakers can still arbitrage liquidity baskets that may be out of balance, not by front running or sandwiching transactions, which is not enabled in the Verus protocol, but by joining the transactions to be solved simultaneously, helping to bring the prices closer into balance and earning while helping users AND liquidity providers in the process.

In addition to the automated liquidity baskets, Verus also has an on-chain peer-to-peer marketplace where people can make and/or accept limit offers for either VerusIDs or even any currency across the entire ecosystem or sent to the Verus network from Ethereum or other external networks in the future.

When running the auto-arbitrage feature and building a block on any Verus mining or staking node, the Verus daemon itself will look for opportunities to “fill” on-chain offers of one currency for another at a limit price better than the conversion rate of a liquidity basket. If any such offers are found, and if the validator has enough funds in their local wallet to fill such an offer, the daemon will both fill the offer and run the resulting output currency into the liquidity basket being solved, joining all of the other transactions in that simultaneous solve, filling the on-chain limit order, bringing the liquidity basket price closer to the global fair price, and ensuring additional earnings for the miner or staker, if they win that block.

While this is just the beginning of what is possible with more advanced auto-arbitrage and will only pick up the single most profitable on-chain limit order when solving a basket, it proves out a new form of beneficial arbitrage in the Verus DeFi protocol and provides a fully open source, 100% decentralized and rent-free way for validators to earn, while bringing all prices for everyone closer and closer to a globally common, fair price for all assets. To our knowledge, this is the only system to ever achieve such a fair, dynamic arbitrage model in any version of TradFi, AppFi called “DeFi”, or actual DeFi at the consensus level. There is certainly more that advanced programmers could do with time, effort, and this protocol, but we hope you enjoy and benefit from this world’s first MEV-resistant automated arbitrage capability.

General VerusId, Verus DeFI, and Public Blockchains as a Service (PBAAS) Capabilities

• On-chain Self Sovereign, Provable Identities, NFTs, and Individual or Organizational Profiles
• On-chain Launches of Token, Centralized Currency, and Liquidity Basket AMMs
• On-chain Launches and Merge Mining of Independent, Connected, Interoperable Blockchains without Programming

Verus ID and NFT Marketplace

Buy and sell VerusIDs on-chain, advertising your offer directly to the owner of an ID or NFT, or posting the sale of your NFT on the worldwide blockchain for all the world to see. Execute transactions in a completely decentralized way. Pay or offer to pay from a transparent or zero-knowledge private address, still auditable by you. Accept payment to either as well, and best of all, execute your transactions directly, peer-to-peer without any intermediary necessary. Don’t worry the on-chain model still makes room for owners to select and share proceeds with value added agents, marketing organizations, or other participants in a new economy of provable digital ownership. It’s the next step in the evolution of VerusID, the most powerful self-sovereign identity and secure storage model for funds in the digital world.

Verus Vault

With Verus Vault you can now protect funds on a VerusID, even from theft of a private key! If you lock your VerusID with Vault you cannot spend funds from that identity at all until it is again unlocked. While locked, you can still stake those same funds on the Verus network and earn by doing so. Of course, you can also still receive funds.

IT IS IMPORTANT TO NOTE THAT ENABLING REVOCATION, RECOVERY, AND ALL VERUS VAULT CAPABILITIES REQUIRE YOU TO HAVE ONE PRIMARY IDENTITY, AND AT LEAST ONE REVOCATION/RECOVERY ID CONFIGURED.

A locked VerusID can always be revoked and recovered by its revocation and recovery authority identities, which circumvents the lock. At the same time, anyone with only the primary keys, even a multisig of primary keys must first unlock, then wait for the predetermined unlock time before they can spend or access funds. This gives you, or maybe a company that specializes in watching the blockchain to whom you've assigned the revocation ID to revoke and recover whenever an unauthorized unlock occurs. That means that like a bank, setting a 24 hour unlock delay on your locked IDs actually provides the first decentralized solution to the infamous 5 dollar wrench attack.

In addition to a new level of blockchain protection and decentralized funds recovery, Verus Vault provides the same security for your IDs and NFTs as well as time locks for other purposes, such as vesting schedules, trusts, and inheritance. With Verus Vault, you can now protect and recover your funds, preserving all your assets and generational blockchain wealth from common forms of crypto loss or theft, no bank required.

New Verus Multicurrency, Multichain, DeFi Enabled Testnet

With an easy GUI for basic operations or command line for more advanced functions. Without any programming, you can now create new identities, currencies, liquidity pools, and blockchains for your business, your government, your projects, a worthy cause, your family, or your next decentralized application suite. Send currencies worldwide on the same chain, or across blockchains with ease. Even convert currencies to others on the network without an exchange by sending to yourself and converting along the way.

The new Verus testnet is a full-featured, intrinsically decentralized multi-chain blockchain platform with an unlimited number of identities, currencies, liquidity pools, and blockchains. It is accessible from the released versions of Verus Desktop and Verus CLI wallets, and it is the beginning of a new age in crypto. There are so many things you can do with Verus that you cannot with any other cryptocurrency platform, and you can try them all today.

As Verus PBaaS offers completely new capabilities that go beyond today’s decentralized platforms in many fundamental ways, the worldwide Verus community put its energy into creation...