VeriCoin & Verium - 2017 – Year In Review + Development Plan/Goals for 2018
2017 was quite a year for the VeriCoin and Verium project. Our community is growing at a rapid pace and we thought it would be a good time to do a quick recap on the past 12 months and also shed some light on some exciting developments you can look forward to in 2018.
If I had to describe 2017 with one word, it would be “Growth”.
“The tree that is beside the running water is fresher and gives more fruit.”
In 2014, @pnosker and @effectstocause planted a seed which has sprouted and is now growing before our eyes. The foundation of this project has been solid from day one primarily because of the vision of the founders. If the vision and idea is the soil, the technology is the roots, then the community is the running water that will help this tree bear fruit.
The more our community grows and engages with the project, the more VeriCoin and Verium thrives. The community should be proud of it’s accomplishments during 2017, especially in the last quarter where we saw exponential growth in social media, Slack and Reddit.
VeriCoin’s Reddit Growth
More important than number of followers though is the number of people stepping up and getting involved lately. The contributions have been nothing short of amazing and I think we are just getting started.
Facebook: 3,293 Followers 2018 Goal: We need to do a better job of engaging with our Facebook followers, especially relating to technical support queries.
Twiiter: 30,400 Followers 2018 Goal: We will be posting more blog posts and social media graphics as well as making more strategic outreach to key influencers
Reddit: 2,168 Users 2018 Goal: We only recently started using Reddit attentively in the later half of 2017 and the user acquisition trend and engagement has been very strong. We plan to see continued growth and interaction in 2018.
Telegram: We just launched the Telegram channel in mid December and already have 623 members.
Relating to Social Media:
I encourage you to start adding replies and comments when you see people asking for suggestions while researching coins to invest in. There is no need to oversell or overhype this project because the technology alone is compelling enough. I recently answered a question on Quora “What is everyone’s favorite altcoin heading into 2018”. The answer has been viewed over 3,400 times and upvoted 43 times. I encourage you to give it a quick read especially if you want a quick summary of the primary benefits of this project.
Engagement Plans and Metric Goals for 2018
In 2017, many of you have contributed to this project immeasurable ways and we’re very thankful. In 2018, we are dedicated to giving you the support and resources so you can help us take this project to new heights. The reality is we’re still a diamond in the rough and it is going to take community involvement to help educate more people about this amazing technology. There is no doubt in my mind that we can hit a critical mass in 2018 that will help put VeriCoin and Verium in the spotlight in 2018.
User Base Growth
VeriCoin User Base Growth (Wallet Downloads)
According to website analytics (which we implemented on Feb 15, we have seen amazing growth in user growth as well. When we look at the number of VeriCoin Wallet and Verium Vault downloads, the numbers are impressive and there is a positive trend indicating growth. Note: There was a reporting error in mid December for two weeks in which we lost traffic and conversion data
VeriCoin Downloads (from website) = 16,028 Verium Vault Downloads (from website)= 22,417
Downloads came from 198 different countries!. There are countries on this list that I had never even heard of. This just goes to show how decentralized and awesome this project really is. So whether you are from the United States, Russia, China, or even Timor-Leste, Dijbouti or Mayotte, we have the ability to all come together and create something very special that is going to change the world.
Exponential Google Search Growth for both VeriCoin and Verium
It’s also important to look at the Google Search trends for both VeriCoin and Verium and you can easily see that more and more people are starting to discover this project. According to the chart above, both VeriCoin and Verium searches have consistently increased over time with both peaking in mid December.
Plans for 2018
User Growth Dashboard
In the first week of January, we will be sharing a user growth dashboard on the website so that all members of our community can view these types of user growth stats. I think User Growth metrics are more important than price valuation charts as it shows the true growth of this project.
More Real World Meetups
VeriCoin Meetup in Bucharest, Romania
One of the things we tested in 2017 was a real world meetup in Bucuresti and we felt this event was successful. We had over 40 cryptocurrency and blockchain enthusiast attend and were introduced to VeriCoin and Verium. The response was great and there were requests from those in attendance to do it again. We have begun the planning for 3 new meetups in 2018. The planned locations so far are New Jersey, Prague and Italy. If you are interested in hosting your own meetup, please email [email protected]
Verium Mining Growth
We can’t talk about the growth in 2017 without mentioning Verium network hash difficulty.
Verium Mining Difficulty Chart
Mining is one of the most critical aspects of this project and is vital
towards the goal of implementing Binary Chain. Based on the chart above
from https://chainz.cryptoid.info/v... we can see an increase of
over 300% and we’re sure 2018 will bring in an exponential amount of new
There were some major contributions from the community that made this happen including Birty’s “CPU Mining Guide”. This document which was originally published on Steem attracted solo miners from around the world.
We also have to acknowledge the members who created and manage Verium mining pools which make it easier for users to mine with laptops/PC’s/servers and Odroid clusters. If you have not yet started mining Verium, what are you waiting for? There are 6 mining pools you can join today:
If you need assistance, you can join the mining channel in our Slack https://slack.vericoin.info
Verium Mining Goals and Plans for 2018
In 2018 we plan to release a P2Pool (Decentralized Mining Pool) with easy one-click mining. We believe this initiative will bring in a lot of new miners and make our network even stronger.
Market Cap Growth
VeriCoin closed 2016 will a USD value of $0.02266 and traded at .00002317 satoshis. Verium ended 2016 with a USD price of $0.039 and traded at .00004100 satoshis
As of the time of this writing, (12/30/17 16:39 EST) VRC is at $1.06 and traded at .00007388 and Verium is at $6.72 and .00046955 satoshis.
It’s hard to believe this was just one year ago and everyone in the community who actively contributes to this project should be proud of the growth. However, the growth of this project is just now starting to develop and I am confident this time next year we will look back and be equally shocked to see that VeriCoin was only $1.00 USD.
If we continue to focus on community growth, increasing the user base, marketing and education, improving user experience and continue innovating, the market value of both VeriCoin and Verium will take care of itself and we will look back this time next year with an even greater level of growth than what we experienced in 2017.
Development Highlights from 2017
- Launch of New Temporary Website
- Completion of VeriCoin Wallet 1.7
- Completion of Verium Vault 1.1
- VeriumMiner Optimization
- Video Explanation Series
- Added 4 New Developers to the team
- Hired Designer and UI/UX
- Added Full-time Project Manager
- Added Full-time Marketing Manager
- Successfully Launched 5 New Pools for Verium
- Cointal Partnership (FIAT Gateway launching in 2018)
Development Plan/Goals for 2018
We do not believe in publishing specific development dates. The following goals are strictly quarterly estimates. There are many factors and variables involved with development. We believe in putting out a secure and tested product rather than pushing out code to meet a deadline.
- Q1/2018 – New Website Launch and new Branding/Design guidelines for VeriCoin and Verium
- Q1/2018 – Release of P2Pool for Verium and Launch of Mine Sharing(Exclusive for Verium)
- Q1/2018 – VeriCoin 2.0 and Verium 2.0 (Code base update to latest Bitcoin Core 0.15)
- Q2/2018 – Mobile Miner for Android and iOS(Later Date)
- Q2/2018 – Dual Mobile Wallets for VeriCoin and Verium on Android and iOS(Later Date)
- Q3/2018 – Gemini Wallet Beta Launch
- Q3-Q4/2018 – Binary Chain Activation