VeriBlock, through its subsidiary Xenios SEZC, announced the upcoming mainnet launch of the VeriBlock blockchain. VeriBlock's year-long testnet phase ended on March 4, 2019 and VeriBlock's mainnet will officially go live on March 25, 2019.
During the last year, 51 percent attacks — attempts to rewrite a blockchain's transaction history — progressed from theory into reality. These attacks have accounted for more than USD 20 million in coin theft from exchanges, including holdings in Bitcoin Gold, ZenCash, Ravencoin, FLO, and most recently Ethereum Classic.
VeriBlock's technology delivers Bitcoin-level security to both new and established blockchain and cryptocurrency projects that may otherwise be vulnerable. This enables development teams to focus on innovative features and functionality, rather than worrying about attacks.
The marketplace has validated this approach, with over 6,000,000 security transactions on Bitcoin to date.
In addition to allowing blockchain networks to inherit Bitcoin's decade-plus of accumulated security, VeriBlock-secured blockchains continually provide Early Attack Detection (EAD) security statistics. EAD enables exchanges, wallet providers, and merchants to determine the security of particular transactions and networks.
Once a transaction reaches Bitcoin-finality — the moment the snapshot of a network is written to a Bitcoin block — the exchange or merchant can accept the transaction with the assurance that it is just as secure as a Bitcoin transaction.
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