Verge (XVG)

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Verge is a privacy focused crypto currency, designed for fast, cheap transactions suited for everyday use, providing both individuals and businesses with flexible options for peer-to-peer payments.

Joke Name

Verge = Fast n Cheap

Basic Intro

Link to the main website

Link to price/market cap

Exchange Ticker (XVG)

Coin or Token

Circulating Supply (15.1 Billion)

Total Supply (16.5 Billion)

Market Cap Ranking

Review

Verge is a privacy-focused cryptocurrency, designed for fast, cheap transactions suited for everyday use, providing both individuals and businesses with flexible options for peer-to-peer payments.

Key Features:

  • Anonymity
  • Other Features

Anonymity

The Verge protocol offers some of the most competitive privacy features on the cryptocurrency market. The first feature is Tor integration, which essentially is an IP obfuscation service that enables anonymous communication across the network. The user’s internet traffic is wired through a worldwide volunteer relay consisting of thousands of devices, concealing any information about the user’s device. Tor is integrated in all Verge wallets, but that’s not the only privacy feature that Verge offers. I2P integration is another part of Verge’s privacy infrastructure. The feature which was originally built to provide hidden hosting services integrates into the Verge ecosystem the same way Tor does, however it preforms packet based routing as opposed to Tor’s circuit based routing. And finally, the infamous Wraith Protocol, which allows users to switch between public and private ledgers. When it’s turned on, any data related to the transaction is hidden and not trackable by the blockchain explorer. These features combined make Verge the only truly untraceable cryptocurrency.

Other features

The Verge currency supports several mining algorithms, including Scrypt, X17, myr-groestl and others. This ensures the decentralization of the network as it allows the currency to be mined with a wide variety of diverse hardware, also increasing security. Verge allows for atomic cross-chain trading, making it interoperable with other cryptocurrencies that also have the feature.

Problems:

Verge has had its fair share of controversy surrounding it. Like most early crypto projects, it had shady beginnings. Many early adopters may remember Verge by its previous name, DogeCoin Dark, which is simply a copy of DogeCoin with Tor integration. However, the most notorious controversy case came up in 2017, when a Verge whale (A person who holds a lot of Verge) allegedly struck a deal with John McAfee to promote the project and essentially pump the price, which he did, after a series of promotional tweets in a pure market manipulation attempt. The Verge whale then leaked a bunch of DM screenshots of a conversation between him and McAfee where the controversial businessman said that he’d withdraw all his support for the currency if he isn’t remunerated, asking for a huge premium and promising to crash the price of the cryptocurrency by using his standing in the crypto community.

Conclusion:

All in all, Verge is an interesting project. It has numerous, high-traffic websites integrating it as a payment method, including the adult industry giant Mindgeek. While it had some sketchy past, with the current rebranding, updates and Wraith Protocol, the currency is definitely here to stay.

Pros

  • Fast
  • Low cost transactions
  • Lots of exchanges

Cons

  • No direct backing (asset, profits, commodity)
  • Shady beginnings
  • Associated with scams