A look at VeriBlock’s relationship with Bitcoin

Quick Take

  • VeriBlock is a recently launched network leveraging OP_RETURN script codes to borrow Bitcoin’s security
  • The company has shown a ravenous appetite for using Bitcoin’s blockchain
  • In February 2019, VeriBlock’s transactions made up more than 20% of total bitcoin transactions

As one of the most secure blockchain networks, Bitcoin’s block space is highly valued by its users. Because of its security, Bitcoin has inadvertently fallen into a role as a data repository for businesses attempting to leverage its OP_RETURN script.

One such business is VeriBlock, a recently launched network leveraging OP_RETURN and Bitcoin’s blockchain to secure alternative blockchain networks, inheriting Bitcoin’s security in the process.