The world is becoming more and more advanced as blockchain technology is incorporated into all industries today. The indelible impact of blockchain technology has been felt by the digital community in many ways. One such way is in data gathering, validation, and finance. You are about to read about a project that brings superb solutions to the problems that we likely face in those areas.
Veritise offers services for data gathering, analysis, identification, and verification to both businesses and individuals. The Veritise blockchain, which enables these services and makes them accessible on a worldwide scale, is key to these features. The Veritise blockchain is certainly something you haven’t heard much about, so you might be curious about what it is and how it differs. Based on the NEM (New Economy Movement) Symbol architecture, Veritise Blockchain is a Next-Gen Enterprise-Grade Technology with a network that is optimized for quick, safe, and completely auditable payment and transaction operations. The powerful features of Veritise Blockchain include multi-level, multi-signature account systems, smart assets, namespaces, aggregate transactions, metadata controls, and on-chain data storage with advanced encryption techniques.
Veritise Blockchain enables future use-cases like fully compliant tokenized securities and other financial products, increasing speed, lowering costs, and eliminating potential fraud. High levels of personalization are supported by the Veritise blockchain architecture at both the network and node levels. All nodes in a network must adhere to the same global settings as defined in the network. Contrarily, node-specific settings, which are found in nodes, can change among all nodes in the same network. Turing-complete smart contracts are not supported; instead, a plugin/extension method is employed. The latter is more error-prone from the user’s point of view, even though it may offer more user flexibility. The attack surface is reduced under a plugin model since it restricts the actions that may be carried out on a blockchain. Moreover, compared to an infinite number of operations, a discrete set’s performance may be improved much more easily. With this, the VeritiseTM blockchain is able to reach the high throughput for which it was intended.
By using blockchain for identity verification, Veritise is reestablishing trust between people, businesses, and organizations. The Veritise blockchain enables all entities to be registered, vetted, authorized, authenticated, and tracked immutably, from a real person or business to practically any type of digital asset.
Features of Veritise Blockchain
Delegated Proof of Stake is the method of consensus used by the Veritise blockchain. This implies that you can “stake” more VTS if you already own it. It can be done in one of two ways:
a.Create a node of your own.
b.In your Veritise wallet, there is a section titled harvest -> delegated harvesting if you don’t want to set up your own node. Choose which existing node you want to delegate to as well as the account to use.
For each block they harvest, node operators are rewarded. The award includes all fees accrued from transactions contained in the block, as well as a small amount of money denominated in inflation (1% annually). 10% of the payout is deducted for the network itself. If a harvesting beneficiary address has been specified by the node operator in the node’s configuration, an additional 15% may be subtracted. The formula for calculating block rewards is, Block reward = 0.9x (fees + inflation).
Veritise Patent Protected Technology offers cost-effective options for brand protection and anti-counterfeiting measures in a fashion that is obtainable for all participating manufacturers.
Veritise provides wallet software that is compatible with Windows, Mac, and Linux operating systems for storing your VTS tokens. Additionally, Veritise provides mobile wallets for iOS and Android.
Meet the Incredible Veritise Team
Veritise’s official token is $VTS. There are 300 million VTS tokens in total supply. Its circulating supply ranged from 75M to 200M in the first year. $VTS has extremely low inflation. That is, 1% annually at most. This inflation is required in order to:
- Maintain supply and help cover lost funds, wallets, or keys
- Reward the server nodes that keep the blockchain network running while transaction volume is still increasing.
- Keep token holders’ value intact
All network fees (token creation, namespace rental, transfer transaction, etc.) on the Veritiise blockchain are paid in VTS tokens and are configurable on the Veritise network.
- 5% of the total supply of VTS was allocated to the Veritise team.
- 25% was distributed in the private rounds
- 3% will be distributed in futr rounds
- 7% was distributed in the public sale
- Claims received 16.7% of the total token supply.
- 2020 — Patent Filing
Veritise files patent for device and method for authenticating products.
- June 2021 — Veritise Blockchain Mainnet Launch
After a time of successful development, the Veritise blockchain mainnet comes online. This marks the start of developing our turn-key BaaS (Blockchain as a Service) solutions.
- August 2021 — Prototype of Product Protection System
Veritise completes the development of a prototype that viably demonstrates the anti-counterfeit, tracking and provenance abilities of our patented technology. The prototype runs as a user-friendly mobile app.
- September 2021 — Token Sale Platform
Veritise builds its own Token Sale Platform and launches the Veritise Initial Coin Offering on September 2021. Investors can now purchase Veritise (VTS) tokens using credit card, direct bank deposit, as well as BTC, USDT and ETH. There is also a referral program that pays a 10% commission.
- September 2022 — Product and CV Verification Pre-Prod (V0.1)
Both the mobile apps (iOS and Android), as well as the web app, are now in the pre-production phase.
- September 15, 2022 — Veritise Token Listing on Bitmart Exchange
Bitmart lists Veritise (VTS) tokens on their exchange on September 15, 2022! Bitmart has over 9+ million users and is one of the most trusted crypto exchanges, with a daily volume of over $2.2 billion.
- October 2022 — Car Configuration App
Veritise developed a car configuration app using its blockchain for event history and mechanic logging.
- October 2022 — Business Card and Online Identity Authentication
Veritise solves the challenge of identifying someone you communicate with. Our system provides fast proof of identity and protects you from bad actors who use fake online and/or offline identities.
- 2023 — Enhanced KYC and KYB
- 2023 — VeriScore
Veritise is developing the VeriScore™, which is at the core of our verification and validation engine.
- 2023 — Biometrics Integration
Veritise will integrate various biometric security systems.