Verge cryptocurrency, it’s exciting, it’s fresh, it’s private and will have numerous investors coming at it fast. Wondering; What in the world is this cryptocurrency? What is so interesting about it? Not to worry if you are a verge cryptocurrency virgin; Stay with me, and we will fix that in today’s article.
What is verge cryptocurrency?
Verge is a privacy-based cryptocurrency intended to offer safe and anonymous transactions. Simultaneously XVG also delivers low fees, high transaction output and fast processing times. Verge was originally called Dogecoindark. In February 2016 it was rebranded to Verge.
Some of the main features of the verge coin are as follows:
1. Complete Anonymity
Verge utilises a unique type of technology called TOR and I2P to keep all transaction private. This guarantees the protection of the IP address with a smokescreen that makes tracing any transactions that go around in the blockchain difficult.
2. Transactions are super fast
When using verge cryptocurrency, transactions are unbelievably swift.
Making use of Simple Payment Verification (SPV) technology; The typical time of transactions drops to roughly 5 seconds. For one to get, their cryptocurrency transaction completed in such a small amount of time is really quite amazing for cryptocurrency investors.
3. Decentralised cryptocurrency
Verge was formed on an open source platform. Resulting in the lack of central control, therefore making it a decentralised cryptocurrency.
4. Services presented for mass adoption
A large variety of wallets are being offered by Verge cryptocurrency; Which offers protection and anonymity over a PC platform as well as on the Android platform.
5. the acceptance of verge cryptocurrency by many vendors worldwide
Several vendors, companies and sites have started accepting XVG coin as a method of payment.
What makes Verge unique?
First of all, with verge, privacy is offered as an option instead of by default. Because of the currency’s Wraith Protocol; Users have the option to choose between private and public ledgers on the same blockchain, which means that those who value transparency, such as merchants, for example, may benefit from Blockchain Technology’s record-keeping advantages whereas anyone who would like to send funds privately has the option available to them.
When you decide to send a private transaction; Verge cryptocurrency uses anonymity-centric networks, like Tor (The onion router) as well as the Invisible Internet Project (I2P); To make sure that the IP addresses of the involved parties of the payment are completely blurred. The final result is untraceable transactions.
Some things to look out for with regards to verge cryptocurrency
If you are considering purchasing any verge coins, one major issue you should be conscious of; Is that Verge is definitely not the only privacy coin that is competing for market share. There is also Monero, Zcash, Dash, Bytecoin and Bitcoin Private built with a concentration on anonymous transactions. Therefore you will have to consider how Verge cryptocurrency stacks up against those other coins.
Another important point to note is that every privacy coin inevitably develops associations with suspect or even criminal movement. Even though privacy is a vital feature for several consumers; It is also a double-edged sword which can very well cast doubt on the integrity of a coin and destroy its public perception.
Throughout its history, verge cryptocurrency has not been a stranger to controversy. With a 51% attack from hackers in April 2018 which forced it to fork. And with earlier reports suggesting that John McAfee was blackmailing it; you may need to clear up a few question marks before making any moves.
As mentioned before verge cryptocurrency is one of several coins developed based on privacy. Depending on how you look at it, verge’s open-source nature can be a benefit and a drawback. Therefore it will be quite exciting to see how Verge cryptocurrency fares in; The fight for privacy coin supremacy shortly. Make sure you make a comparison of the Verge’s strengths and weaknesses with its competitors’; before deciding whether or not to purchase.