Verge (XVG)
Verge is a cryptocurrency focused on privacy and anonymity, aiming to offer secure and private transactions. Originally developed under the name DogeCoinDark in 2014, the project rebranded to Verge in 2016 to shed associations with the "dark" web and to reach a broader audience. Verge leverages multiple anonymity-centric networks such as Tor and I2P to ensure users' identities are obfuscated.
Verge overview
| Ticker | XVG |
| Website | http://vergecurrency.com/ |
| @vergecurrency | |
| Telegram | officialxvg |
| https://www.reddit.com/r/vergecurrency |
History of Verge
Early development
Verge was initially released as DogeCoinDark in 2014 by an anonymous developer known by the pseudonym "Sunerok." The project began as a fork of Peercoin and was intended to provide a more privacy-focused alternative to Bitcoin and other cryptocurrencies at the time. In 2016, the project underwent a rebranding to become Verge, reflecting its evolution and distancing itself from associations with illicit activities.
Evolution and milestones
Since its rebranding, Verge has seen numerous developments and updates. One of its significant milestones was the release of the Wraith Protocol in 2018. This protocol allowed users to switch between public and private ledgers, offering flexibility in transaction transparency. This feature provided users with the option of increased privacy while maintaining a public blockchain when desired.
Technical aspects of Verge
Blockchain and consensus mechanism
Verge operates on its own blockchain and uses a Proof-of-Work (PoW) consensus mechanism. It is built on the Bitcoin protocol and incorporates several key differences to enhance privacy and transaction speed. Verge uses multiple mining algorithms, such as Scrypt, X17, Lyra2rev2, myr-groestl, and blake2s, to ensure a more decentralized mining network and broader accessibility.
Privacy features
Verge's primary selling point is its focus on privacy. The cryptocurrency employs various technologies to achieve this, including:
Tor Integration: Verge incorporates Tor, an anonymity network, to anonymize user IP addresses. This integration helps obscure the origin of transactions, making it difficult to trace the sender or receiver.
I2P Integration: Similar to Tor, I2P (Invisible Internet Project) is another network used by Verge to hide users' IP addresses. I2P provides additional layers of anonymity and security for transactions.
Dual Ledger: With the introduction of the Wraith Protocol, Verge allows users to choose between public and private ledgers. This dual-ledger system enables users to decide the level of privacy for their transactions.