What is VeriCoin?
The PoST interest rate is dynamic and depends on how much the coin is held and staked in the PoST. There was no premine. VRC was designed to reduce the PoW phase and enter PoST phase quickly. The PoST interest is gained through transaction fees which are also distributed to the Vericoin fund - to aid in development and promotion of the currency. With a steady block reward and block time of sixty seconds, the PoW phase finished after the first few weeks of launch - 10/05/2014. The dynamic interest rate is pegged at a sensible level of between 0-3% roughly.
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