VeriBlock, Securing the World’s Blockchains with Bitcoin

VeriBlock is securing the world’s blockchains using bitcoin.

It’s a project of Bloq, the enterprise grade blockchain technology company, run by co-founders Jeff Garzik and Matthew Roszak. Some of their other initiatives include Qtum, Metronome, Civic, Dragonchain, and drivechains.

I actually checked out the project because the Chairman is Andrew “Flip” Filipowski. He’s a tech entrepreneur and guru but that description doesn’t do him justice. If you’ve never heard him talk check out this video.

VeriBlock uses Proof of Proof (PoP) mining which enables blockchains to inherit and leverage PoW from a superior blockchain such as bitcoin. This security encourages the adoption of these blockchains which address bitcoin’s feature limitations.

The VeriBlock blockchain enables PoP mining and acts as a fully decentralized, transparent, trustless, permissionless security adapter/aggregation layer between other blockchains and bitcoin.

That makes other blockchains really secure.

Per VeriBlock, Bitcoin, the golden standard of security, has more than 40 times the thermos-equivalent computational power to the world’s fastest supercomputer. As of July 2017, a successful attack on Bitcoin would require a minimum of 600 MWh of electricity and over $1B of specialized computational infrastructure.

With VeriBlock reversing consensus on that block would require forking Bitcoin, VeriBlock, and the VeriBlock-secured blockchain simultaneously.

There’s a limitless number of blockchains that could achieve security with VeriBlock and bitcoin. That’s bullish for bitcoin too.

VeriBlock is led by CEO Maxwell Sanchez and has the previously mentioned support of Flip Filipowski and Bloq. It also has notable advisors in Bill Shihara of Bittrex, Anthony Di Iorio of Jaxx, and Bo Shen of FenBushi Capital.

The VeriBlock token serves as a price discovery mechanism that allows the efficient allocation of the scare resource of proof, allowing all blockchains to inherit Bitcoin’s PoW security.

That’s about all I can find on the token at this point. Not sure if there’s a token sale or what the deal is. If you know, please share!

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