Veriblock Goes Live On Bitcoin Mainnet, Offering Other Crypto Projects’ BTC-Blockchain Level Security
After spending over a year in its testnet phase, Veriblock has announced yesterday, March 26, that the Veriblock blockchain would finally be live on the Bitcoin mainnet. The launch was awaited for a long time and will be a major milestone for the network.
Now that the mainnet of the Veriblock blockchain has been launched, any crypto institution or person, ranging from investors, exchanges, wallet providers and merchant, among other businesses, can use its security features.
According to its website, Veriblock is a trustless, decentralized, permissionless and transparent technology which can be used to create a secure and scalable ecosystem.
Basically, you can use it as a third-party solution that offers a technology similar to Bitcoin, since it uses a very similar proof of work system for securing the transactions made on the chain. This, the official press release of Veriblock affirms, could enable teams to be focused on aspects like creating innovative features instead of security.
One of the most interesting security features of the network is that it provides more defense against 51% attacks. This is done because the company links other blockchains to the Bitcoin mainnet, which is by far one of the most resilient blockchains.
Jordan Andersen, the vice president of Bitbuy, has recently spoken about this blockchain solution. According to him, Veriblock is an excellent solution because it shields altcoins against 51% attacks. By being linked to the BTC chain, it is practically impossible to disrupt your altcoin without having to do it with Bitcoin, which is known to be quite a task.
The community is eager now that the project has reached this new level because the testnet has some bugs and problems, so the network will be much more stable now. Now, they believe that this will drive the adoption of proof of work protocols up as well as to secure several altcoin networks.