Verge (XVG)
Verge is a cryptocurrency that embarked on its journey in 2014, originally known as DogecoinDark. The primary motivation behind its creation was to establish a truly private cryptocurrency. The founder of Verge believed that Bitcoin did not offer sufficient anonymity, leading to the development of a new blockchain where transactions are not traceable. Verge employs multiple anonymity-focused networks like TOR and I2P to fully obfuscate the IP addresses of users. The Core QT wallet integrates TOR and SSL encryption to enhance security further.
| Ticker | XVG |
| Category | Smart Contract Platform |
| Website | http://vergecurrency.com/ |
| @vergecurrency | |
| Telegram | officialxvg |
| https://www.reddit.com/r/vergecurrency |
History of Verge
Verge was initially launched as DogecoinDark in 2014, with a focus on privacy and anonymity. In 2016, it was rebranded to Verge to reflect its mission of providing secure and private transactions. Unlike many cryptocurrencies, Verge did not conduct an Initial Coin Offering (ICO) or engage in premining, emphasizing its community-driven and open-source nature.
Technology and features
Anonymity and privacy
Verge stands out for its commitment to privacy and security. It uses anonymity-centric technologies, including TOR and I2P, to obscure user IP addresses. This ensures that transactions cannot be traced back to individuals, a key feature for users seeking confidentiality.
Wraith Protocol
A significant technological advancement for Verge is the Wraith Protocol. This upgrade allows users to switch seamlessly between private and public ledgers on the Verge blockchain. When the Wraith Protocol is activated, transaction data becomes invisible, even to blockchain explorers. The protocol enhances Verge's privacy features and offers users the flexibility to choose between transparent and anonymous transactions.
Transaction speed
Verge boasts a fast transaction speed of approximately five seconds, utilizing Simple Payment Verification (SPV) technology. This rapid processing time is an advantage for users who require quick and efficient transactions.
Community-driven development
Verge maintains a strong community focus, characterized by active engagement between developers and users worldwide. As an open-source project, its development is guided by community input rather than corporate interests. This democratic approach allows community members to influence the direction of Verge's technology and future developments.
Mobile wallets and anonymity
Verge provides several secure mobile wallets, enhancing user convenience and security. Notably, the Tor Android Wallet offers mobile anonymity, setting Verge apart from other cryptocurrencies like Bitcoin that lack this feature. This allows users to manage their Verge holdings privately on the go.
Mining and algorithms
Verge employs a unique approach to mining by offering five different Proof-of-Work (PoW) algorithms: Lyra2rev2, Scrypt, X17, blake2s, and myr-groestl. This diversity promotes inclusivity, enabling a broader range of users to participate in mining and contribute to the network. If one algorithm requires more resources, miners can switch to another, ensuring a balanced and accessible mining ecosystem.