Verum Coin

Verum Coin (VERUM) is a digital cryptocurrency designed to offer decentralized financial transactions through blockchain technology. It is built on the native blockchain that called Verum Chain.

History
Verum Coin was launched in early 2022 by the BitCoinPay Trade team to address inefficiencies and scalability issues found in earlier cryptocurrencies like Bitcoin. It operates on a Light Proof-of-Work (LPoW) consensus mechanism optimised for high transaction throughput and rapid block generation.

Products
In June 2024, the company launched the Verum Pay solution to integrate the VERUM digital asset as a payment tool into eSIM, VPN, and other native products. According to the official statement, the Verum Coin ecosystem is expanding its product offering by launching Verum Pay, which integrates Verum Coin as a payment method within the Verum E-SIM and Verum VPN mobile applications. This payment functionality has also been extended to eight other eSIM applications, including World E-SIM, E SIM Africa, Balkan E-SIM, Canada E-SIM, Euro E-SIM, London E-SIM, Ukraine E-SIM, and USA E-SIM. The company has secured agreements to integrate this merchant system into other projects, promising further expansions and enhanced utility of Verum Coin. Besides native E-SIM and VPN solutions, the ecosystem features Verum Messenger, a messaging app with end-to-end encryption designed to provide secure and anonymous communication.

Criticisms
Despite its advantages, Verum Coin faces several challenges. The Proof-of-Work (PoW) consensus algorithm traditionally used in cryptocurrencies like Bitcoin has been criticized for its environmental impact. The PoW algorithm requires large amounts of electricity, often produced by burning fossil fuels, which emits carbon dioxide and other greenhouse gases that contribute to climate change.

However, Verum Coin employs a Light Proof-of-Work (LPoW) consensus mechanism, which significantly reduces the energy required for mining. This optimized approach aims to maintain high transaction throughput and rapid block generation while minimizing environmental impact.