VeriCoin is quite a unique concept among cryptocurrencies, together with Verium combine both a digital currency with a digital reserve. It uses a dual blockchain system known as a binary-chain this in turn speeds up transactions for both VeriCoin to within 30 seconds and Verium to within 3 minutes.
Both of these use a different protocol, VeriCoin uses Proof of Stake Time (PoST) and Verium uses Proof of Work Time (PoWT).
VeriCoin transactions are already around 10 times faster than Bitcoin transactions but when used with Verium they will be even faster. Another advantage to VeriCoin is that the PoST protocol used means you can gain interest on your coins just by leaving your digital wallet running also known as staking.
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