Home Blockchain Verge(XVG) gunning to be the first coin to establish a unique private transaction platform

Verge(XVG) gunning to be the first coin to establish a unique private transaction platform

by Raj Hirvate
33 views

The year 2017 was quite the merry go ride for the cryptocurrency world as this was the year which saw a complete transformation of the cryptocurrency market. From being atopic most people weren’t even aware of to be one of the most searched topics worldwide. It has come far beyond its initial stages.

The revolution witnessed a tremendous overhaul of cryptocurrency into the commerce industry which Is quite compelling. It wouldn’t have been possible for this industry to achieve such a jaw-dropping feat but the emergence of new cryptocurrencies made sure to infill the voids created by the former cryptocurrency, Bitcoin, such as speed, cost, and transaction capacity, among others.

Verge (XVG), was no stranger in the space of this event, it held its own and made a name of themselves which arguably had been quite the challenge for many cryptocurrencies, including the likes of Bitcoin. There have been rumors that bitcoin users can be linked to their wallet address although nothing concrete can be made of it

Verge evolved with the goal of achieving personal privacy, boosting its capability of rendering fast and efficient transaction for individuals and cooperate bodies. Verge is a decentralized cryptocurrency designed with the idea of it being an upgrade for the standing Bitcoin blockchain

Verge makes it possible for its users to create instant, anonymous transactions using advanced technology of blockchain built on services like Tor and I2P, which conceals data like IP-addresses and geolocation. The operation of Verge makes use of the ‘Simple Payment Verification’ (SPV), which provides rapid confirmation.

The company further revealed their plan for providing people with an easy way to perform transactions all over the world by “bringing blockchain transactions into everyday life”. Verge is anticipated to provide individuals and businesses with a platform where they can receive and send liquidities within a matter of seconds.

Verge was first introduced in 2014, as DogeCoinDark and rebranded later by the team in early 2016, as Verge offering privacy.

All about Verge

Verge uses Tor and I2P, which, as per the company, hides the IP addresses, and location of users making transactions completely untraceable. Thus granting users to be anonymous

With the innovation of Tor Android Wallet, they can provide mobile users the option of anonymity. This network also offers mass transaction using a wide array of wallet that is completely secure. Also, The Simple Payment Verification (SPV) technology, which Verge uses, allows transaction confirmation done in about 5sec

Verge, had a low price of $0.000001 back in 2015, which improved a bit as it plunged up to $0.0002 in April 2016. By December 2017, it was well on course to reaching its ultimate potential as its value increased by well over 65% from $0.006 to $0.23,

But as so the case with so many altcoins they too fell victim to the massacre of the cryptocurrency market over February 2018, as it dropped down to $0.0479, and now find themselves struggling to maintain a balance at a price of $0.0562.

What makes Verge one of a kind and a coin with tremendous potential is the fact that still delivers the aptitude of total veiling of IP addresses and geolocation even without Wraith protocol, all because they have implemented the most advanced version of TOR integrated into the Core Wallet. Conglomerating both to function together make Verge the only uniquely genuine cryptocurrency that is untraceable.

All about Wraith Protocol

Wraith Protocol was introduced in late 2017, it is a technology which obscures IP address and blockchain transaction using Tor and stealth address.

It presents its users the ability to decide whether they want to run a public and private ledgers transaction on the Blockchain, and such benefit is said to be the first of its kind. In other cryptocurrency, users are not allowed to choose between public or private transaction. The only thing that has ever existed in resemblance to this is making transactions private with no further option. If a user activates Wrath for a transaction, it hides data and makes it undetectable through blockchain explorer.  Whereas if a user seeks transparency and does not want to go private, the OFF switch on Wraith Protocol would initiate this, and all transaction data would be made visible on the public ledger.

Related Posts

Leave a Comment