v1.2.0

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...

v1.1.2-3

Announcing Verus v1.1.2-3 - NON-MANDATORY FEATURE UPDATE FOR MAINNET AND TESTNET

What’s new

v1.1.2-3 includes new capabilities for the getcurrencyconverters command and API that prepare for VerusPay and its QR codes and deep links in Verus Mobile and other clients to become an unlimited scale, permissionless, worldwide universal currency and DeFi payment protocol.

V1.1.2-3 also improves accuracy of estimateconversion.

How does it work?

In addition to its prior function of finding baskets that contain all currencies in a given list, getcurrencyconverters now alternately accepts a JSON parameter with a “tocurrency” element and one or more “fromcurrency”s (see “help getcurrencyconverters” for details) with optional slippage and pricing limits. It will return all currencies that meet the requirements and which can be used to convert from any of the “from” list to the “to” currency. Importantly, it will also return the most accurate estimated amount of the source currency needed to get the desired amount of output currency, assuming for this purpose that you are not joined by other conversion transactions. This is not the same as an up-to-the-minute estimate, which includes all pending conversions as well and which estimateconversion does provide, but it can be used as a proof point to ensure vendor acceptance when paying VerusPay invoices that allow conversions.

The new VerusPay QR code and deep link payment protocol, which is being worked on for the next feature release of Verus Mobile, enables a vendor to request that if the payee wants to pay in an alternate currency and convert to the vendor’s requested currency, the conversion must be routed through a converter with no more than a specified slippage. This ensures that the transaction size for the item or service in question will not have a large impact on any liquidity basket used for converting to the vendor’s payment currency, safeguarding the vendor. It also allows the payee to select a currency source and route for payment that provides the best deal at that moment for them. The more people simply use this for payments at unlimited scale worldwide in a decentralized way, the more it will also naturally arbitrage baskets across the network as people consistently choose their most favorable route to payment.

We believe that when Verus mobile is out, VerusPay will be the first unlimited scale, universal currency, decentralized, rent-free and permissionless payment and conversion network in the world.

There are no protocol changes in v1.1.2-3.

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 blo...

v1.1.2-2

Announcing Verus v1.1.2-2 - RECOMMENDED NON-MANDATORY UPDATE FOR MAINNET MANDATORY FOR TESTNET AND WHEN RUNNING NEW PBAAS CHAINS TO ENABLE ALL PBAAS CURRENCIES TO BE EASILY SENT TO VERUS

TESTNET ACTIVATION TIME: Tue 28 Nov 2023 10:40:00 PM PST)

Why this release?

This fixes an issue discovered on testnet where a PBaaS chain required explicit use of fee currency to send some currencies back to the Verus chain.

v1.1.2-2 also extends the estimateconversion and getpendingtransfers API to include all pending transfers in the memory pool that may not yet have been mined into a block.

There are no protocol changes to VRSC or VRSCTEST itself, but v1.1.2-2 should be considered mandatory for running and merge mining a PBaaS chain when any are launched on mainnet or testnet.

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 ...

v1.1.2-1

Announcing Verus v1.1.2-1 - MANDATORY UPDATE WITH 2 WEEKS NOTICE FOR MAINNET AND ONE DAY NOTICE FOR TESTNET TO ENABLE USE OF Bridge.vETH AS RESERVE IN PBAAS CHAIN CONVERTER LAUNCH

MAINNET ACTIVATION HEIGHT: 2824790 (~ Thu 07 Dec 2023 03:51:58 AM UTC)
TESTNET ACTIVATION HEIGHT: 302170 (~ Fri 24 Nov 2023 07:54:12 PM UTC)

Why this release?

There are blockchain projects planning to launch that would like to use the Bridge.vETH currency as a reserve in their PBaaS chain converter basket, which launches with the blockchain. When doing their dry run on testnet, it was determined that due to a unique characteristic of the Bridge.vETH basket, its use prevented proper mining of block 1 of the PBaaS chain, and though it is easily fixed for the PBaaS chain, the same issue will prevent the Verus blockchain from accepting a first notarization of a PBaaS chain that uses the Bridge.vETH currency as one of the reserves in its basket.

v1.1.2-1 fixes this issue with a minor protocol modification that handles this reserve in launch properly, enabling coinbase in a first cross-chain notarization from such a blockchain to be properly verified by the mainnet or testnet VRSC chains. As long as any blockchain converter basket that wishes to launch has a start block after the block heights above on the launch chain, it should launch just fine. If one has already been defined, for example the vARRR chain on testnet, it will be able to be launched and cross notarized after testnet activation of this fix, even if it had a start block before.

Please update as soon as possible to enable any project to use the Bridge.vETH currency as a reserve currency that is also a decentralized basket across the ecosystem.

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 me...

v1.1.2

Announcing Verus v1.1.2 - CRITICAL UPDATE FOR ALL NETWORK VALIDATORS WITH IMPROVEMENTS PREPARING FOR ETHEREUM FEE SCALING, BETTER CONVERTER SELECTION FILTERS, BRIDGEKEEPER AND KMD IMPROVEMENTS SYNCED FROM UPSTREAM

v1.1.2 IS BOTH CRITICAL FOR ALL VALIDATORS AND HIGHLY RECOMMENDED FOR ALL USERS.

v1.1.2 has sync and notarization improvements, as well as a number of places with improved error handling.

In addition to those core improvements v1.1.2 has the following improvements:

1. getcurrencyconverters API is now more selective in choosing converters based on up to the minute liquidity metrics.
2. GUI use of liquidity baskets has been improved both from the getcurrencyconverters improvement, and it has also been upgraded to use the “estimateconversion” API, which Verus Mobile users have found so useful due to more accurate conversion estimations.
3. getcurrencystate has fixed step selection when steps are not specified.
4. Bridgekeeper has more improvements in its handling of network connections to Infura, Alchemy, or Ethereum nodes in both GUI and CLI. The daemon is also more tolerant to configuration errors in the vETH config file.
5. v1.1.2 also prepares for an improvement in fee cost when sending back to Ethereum as traffic increases.

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...

v1.1.1-13

Announcing Verus v1.1.1-13 - MANDATORY UPDATE REQUIRED FOR LONG TERM BRIDGE CONNECTION, ACTIVATION HEIGHTS (SUBJECT TO COMMUNITY DESIRE AND READINESS FOR EARLY ACTIVATION):
MAINNET: 2805000, APPROX Thu Nov 23 12:01:11 AM UTC 2023
TESTNET: 285700, APPROX Mon Nov 13 01:12:48 AM UTC 2023

THIS UPDATE FIXES AN ISSUE THAT HAS NOT YET OCCURRED ON MAINNET, BUT WITHOUT IT WILL EVENTUALLY. IF THIS ISSUE WERE TO BE ENCOUNTERED ON MAINNET, WHICH TOOK TESTNET MORE THAN HALF A YEAR, THE ISSUE WOULD STILL BE TEMPORARY IN NATURE WITH NO LONG TERM IMPACT OR RISK TO ACCOUNTING WHEN FIXED, BUT THE CHANNEL SENDING FROM ETHEREUM TO VERUS, NOT THE OTHER WAY, WOULD BE BLOCKED UNTIL IT WAS FIXED, DUE TO A POTENTIAL ERROR IN DESERIALIZATION CAUSING FAILURE TO ACCEPT THE ETHEREUM CROSS CHAIN PROOF. AS A RESULT, THIS UPDATE IS MANDATORY TO ENABLE ALL DAEMON’S TO PROPERLY DESERIALIZE, PREVENT A FUTURE ISSUE FROM HAPPENING AND TO AVOID A MORE URGENT UPDATE.

v1.1.1-13 also speeds up full network sync typically by over 2x by eliminating some obsolete zk-SNARK dependencies. A full network sync is still an endeavor, but this release significantly improves the experience when you need to do a full sync rather than a bootstrap.

We have also discovered that the Testnet bridgekeeper has had some connectivity issues since the last update, which has impaired its cross-chain notarizations. There is also a BridgeKeeper update that will reestablish proper communication between the Verus daemon and the Goerli contracts to support smoother cross chain notarizations. This change does not affect mainnet.

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...

v1.1.1-11

Announcing Verus v1.1.1-11 - CRITICAL SOFT FORK UPDATE REQUIRED FOR MINING AND STAKING ON MAINNET

THIS UPDATE CONTAINS A SOFT FORK AND IS CRITICAL FOR ALL STAKERS OR MINERS, AS EXPLAINED BELOW. NODES THAT ARE NOT MINING OR STAKING WILL STILL FUNCTION JUST FINE, BUT WE RECOMMEND EVERYONE UPGRADE AS SOON AS THEY CAN

As you might have noticed, we have had an incident where someone has put a transaction onto the chain that was not created with the official daemon, was close enough to conforming with network rules that it was getting into a block, and was causing nodes that either staked a block or were mining to segfault.

We do not know if this was intentional or some unknown programmer who is modifying the software making a serious error. It is quite likely to be the former, but we cannot prove that to be the case.

This hot fix is a soft-fork, meaning that old nodes that are not staking or mining will follow the chain just fine. It will let everyone who upgrades continue mining and staking without incident, and we would like especially pools and stakers to upgrade ASAP. Whoever does will have a better chance to get blocks at first, as everyone else comes online.

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,...

v1.1.1-10

Announcing Verus v1.1.1-10 - HIGHLY RECOMMENDED VERUS AND BRIDGEKEEPER, NON-MANDATORY UPDATE FOR MAINNET AND TESTNET

THIS UPDATE HAS NO PROTOCOL CHANGES, BUT IS HIGHLY RECOMMENDED FOR ALL STAKERS OR MINERS, AS EXPLAINED BELOW

What’s new

1. v1.1.1-10 of Verus Desktop includes performance improvements for the Bridgekeeper, including timeout and connection reset improvements and hopefully an end to the hang-on-close issue some were seeing in the GUI. It also reduces costs for Verus Ethereum Witnesses, and it is highly recommended for any users mining or staking, especially on GUI.

2. When sending from an explicit R-address with sendcurrency, the source R-address will now be used as the transparent change output as well, which was a request from a number of people. If you want a change address to be used, you can still use a public key source or “R*” wildcard as the source.

3. Some export rewards for stakers were going to a change address, and now they will always go to the address that stakes the block.

There are no other changes in v1.1.1-10

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...

v1.1.1-8

Announcing Verus v1.1.1-8 - MANDATORY UPGRADE FOR MAINNET TO REMAIN CONNECTED TO THE MAIN BLOCKCHAIN NETWORK, HIGHLY RECOMMENDED FOR TESTNET

PROTOCOL CHANGES IN v1.1.1-8 WILL ACTIVATE ON MAINNET JUST UNDER 24 HOURS FROM NOW, AT BLOCK 2757830, EXPECTED AT 02:00 UTC FRIDAY - THE Bridge.vETH BRIDGE CONVERTER BASKET ENDS ITS PRE LAUNCH PHASE AT 2758800, CURRENTLY EXPECTED AT ABOUT 18:50 UTC FRIDAY

Once v1.1.1-8 activates on mainnet, all transactions sent from Ethereum to Verus since about 16:00 UTC today, which are still pending, should show up on Verus mainnet.

What’s new

v1.1.1-8 fixes an issue that prevented cross-chain imports sent from the Ethereum blockchain to Verus from properly verifying the necessary cryptographic proofs, when recently, Ethereum mainnet proofs crossed a threshold in size that required multiple UTXO outputs to hold the proofs. While the prior version did have support for multi-UTXO proofs, which was tested at lower thresholds about a year ago, the thresholds were also raised and was not needed on testnet or mainnet since then. There was an issue discovered in that support that has been fixed, meaning it is now actively used, and we should not hit it again.

V1.1.1-8 also includes the following updates:

1. A fix for inadequate fees attached to transactions when making large, multi-output transactions, and an accurate fee estimate for multi-output transactions in the return values from the “sendcurrency” API, when the “returntx” option is used.

2. Bridgekeeper improvements to the green or red status in the desktop GUI that indicate more accurately if Bridgekeeper is running AND connected, vs. just running.

3. Multi-currency information on UTXOs returned from the “listunspent” command or API.

4. Improvements to further reduce reversions and costs when witnesses submit confirmed notarizations or imports from Verus to the Ethereum blockchain.

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...

v1.1.1-7

Verus v1.1.1-7 - NON-MANDATORY, RECOMMENDED UPGRADE FOR MAINNET AND TESTNET FOR ANYONE RUNNING BRIDGKEEPER

What’s new

There are no protocol or API changes.

v1.1.1-7 includes the following fixes:

1. Fix when setting up Bridgekeeper for the first time that prevents potential segfault from missing a line in the config file.

2. Bridgekeeper fix to ensure proper processing of and earning from adding an import to a block made by the daemon.

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 operate and interopera...