Verge (XVG symbol) is a privacy-oriented coin that aims to be completely untraceable.
It uses Tor and I2P to mask transaction origins and make it extremely difficul to identify the source of transactions.
Mineable? If so how is it mined?
Similar to other coins such as Monero and DASH, Verge (XVG) is a mineable cryptocurrency.
XVG uses PoW or Proof of Work to consent to secure the content.
On the other hand, it can be mined by means of five different mining algorithms such as blake2s, myr-groestl, Lyra2rev2, Xi7, and Scrypt.
These mining algorithms were designed to allow as many individuals as possible having diversified mining systems to have the same access to getting the coins.
Maximum Circulating Coins
The Verge has a total of 16.5B coins in circulation that maintains the worth per coin small, which may possibly make it more striking in the near future as an operating currency. Nevertheless, the coins will have an extraordinary rise in worth this year.
In the year 2014, Verge started out as DogeCoindark which is one of the oldest anonymous coins.
When it was launched, its main goal was to become an unidentified digital currency. But, in February of 2016, it was rebranded to Verge.
Similar to other coins that focus on privacy, Verge on the other hand also aims to take along both privacy and security particularly to crypto coins users while they are maintaining fast validation times and high throughput.
Nevertheless, Verge intends to bring cryptocurrency into the daily lives of every individual.
What Makes It Different?
To begin with, the Verge is created to function in a practically untraceable setting allowing every user to perform quick anonymous transactions. Without anyone knowing, this cryptocurrency uses a blockchain technology that is extremely advanced in contradiction to the other cryptocurrencies. The blockchain used by the Verge depends on technologies like I2P and Tor, which hides the personal information such as geo-location and IP addresses of the recipient and sender.
In addition, the Verge also utilizes the SPV or Simple Payment Verification technology as a result making any transactions will be done in just a few seconds.
Since late 2017 Verge has supported the Wraith protocol which allows users to choose to enable a high security privacy mode that encodes sending and receiving addresses, as well as hiding the network source of the transaction via Tor.
Who is Behind Verge (XVG)?
This project is a completely open-source as well as community-led and this community is dedicated to decentralization, anonymity, and privacy. A
On the other hand, unlike to other cryptocurrencies, there is no foundation and company behind this project. In addition, it is not a private company that means the project development funds doesn’t come from pre-mined as well as ICO’s coins. In fact, the Verge acquires its source for marketing and development from its association base.
As what we have mentioned a while ago, it is an open-source software which is constantly improving because of its several contributors. Nonetheless, if you want to contribute to this project, can check the GitHub link below.