VeriCoin describes itself as a purely digital currency that runs on its own protocol known as Proof of Stake Time (PoST). Proof of Stake Time rewards investors with variable and compound interest payments on the coins they hold in their wallets in exchange for leaving Vericoin's digital wallet open and running on their computer, a process known as "staking." Staking, incentivized through the payment of interest, validates transactions on the VeriCoin network. VeriCoin transactions are reportedly nearly instant (currently 10x faster than Bitcoin). The team says that with the upcoming launch of the binary chain combining VeriCoin with Verium Reserve, the speed of transactions on the network will increase exponentially. Dual Blockchain (or Binary-Chain) combines a digital currency (VeriCoin) with a digital reserve (Verium). It reportedly secures and speeds up transactions by leveraging complementary protocol technologies (Proof of Stake Time and Proof of Work Time), on a blockchain system. The objective is to offer a complete solution to guarantee low-cost, secure, fast and scalable digital transactions.