Introduction to Verge (XVG)
Verge is an online peer to peer payment system that focuses mainly on the privacy of the user which is to make the transaction anonymous. It uses anonymity networks such as TOR and I2P to achieve the anonymous transactions. With Verge, the IP addresses and the transactions of the users are completely untraceable. Verge also provides wallets for storing the XVG tokens on platforms like Windows, Mac OS, Linux and TOR wallet for mobile.
The wallet of the Verge is pretty secure and fast as it only takes about 30 seconds to make a transaction. It is mainly a community driven project with developers contributing from different parts of the world to the development of the platform. It is not a private company that I funded through the ICO or the mining. The fact that the fee per transaction in Verge is so low that anyone can afford it. It is not necessary to send money as the private transaction can send with user’s name also as it provides with the choice of the privacy whether it wants it or not.
There is a wraith protocol in the Verge system that enables users to send money anonymously to anyone in the blockchain this wraith protocol empowers the stealth addressing services to the users. And the user can turn it off any time. This functionality migrates its users to SSL enabled Tor over the Clearnet. Through this, the users of Verge will have an additional layer of the IP mask to provide stealth to the transactions.
The Verge was created in 2014 as DogeCoinDark, but later it was rebranded in 2016 as Verge. By the end of 2017 and the starting of 2018, it became one of the most traded cryptocurrencies on the market taking its market cap to more than USD 3 billion.
How it Works
Verge has an open blockchain, and it aims to protect the privacy of users while sustaining the open blockchain platform. In the field of cryptocurrency transparency is the top priority that is why most businesses want to invest only in the transparent cryptocurrencies. And by providing public blockchain Verge is aiming for that.
Verge has two main features that separate it from the rest in the crypto market, and those features are using TOR to anonymize the IP addresses and the Wraith protocol to make the transaction public or private. But a lot of people complaints that TOR can be used with Bitcoin also agreed, but the Wraith protocol of Verge is not something that any other cryptocurrency offers. They are the first mover on the functionality of Wraith protocol.
Wraith Protocol – this protocol makes it possible for users to choose between the public or private blockchain ledgers. It has been implemented for the first time in the history of the blockchain. And while selecting this will remain anonymous in both transactions anyway because of the utilization of the TOR network. This leads to an interesting way for users who want to see their transactions and who don’t. For example, if any merchant wants to see the history of their transactions they can do that by allowing it in the wraith protocol. And for the users who want their transactions to completely vanish, they have that choice now. Wraith protocol offers complete anonymity while maintaining the safety and security of the network.
The Team behind Verge (XVG)
Being an open source project Verge has a global community who are active in the development of the project. Verge is not a company they view them as a community of extraordinary people with high ambitions. There was no ICO held when they launched the Verge currency.
Every member of the Verge community is unpaid even the core members. Every member and contributor donates their time and energy just because they believe in the project. They have formed a Development team, Business development team, and marketing team to make the hierarchy of the project as a functioning company. Some contributors are giving to the project when they can via Github.
Recently on April 17, Pornhub announced that they would be accepting the Verge tokens XVG as one of the payments methods on their platform. This partnership was considered a significant win for Verge at the time. It was the first partnership and many more to come in future.
Verge has joined hands with Binance to support the flood victims in Japan. Verge family is helping the needy people and giving out donations. They are supporting the victims of torrential rain in the area of West Japan. This leave many people dead and many missing. In this cause, Binance initiated the donation call to support with the total sum of USD 1 million.
Where to buy Verge
Verge tokens XVG can be bought on many exchanges including popular exchanges such as Binance, Bittrex, and Upbit. When verge has reached the market cap, more than USD 3 billion at that everyone wanted a share of the transactions in that period. Only then many new exchanges have come on board for Verge. The user can sign up with these exchanges to buy XVG tokens or can use one the existing wallets that are industry standard for holding the crypto tokens. The most optimal solution is to use the wallets provided by the Verge itself. Verge wallets can be used on any device and any operating system. The Verge coin exchanges are as follows.
Verge coin Exchanges
These are the main exchanges to trade XVG tokens. Binance has more than a million trade volume in the past 24 hours. But in the recent months, the trading of XVG tokens are somewhat limited, and it will pick up once again when they form new partnerships.
The price of Verge has been an issue for them as they were not able to control the pricing due to lack of some solid partnerships. Their price goes up any time they announce a partnership, but after a few days, it goes down again. In April, they announced the partnership with Pornhub that Pornhub will be accepting XVG tokens as a payment method for their platform. It gives users of Pornhub an option to make payments. And the price of XVG surged significantly, but after a few days, it was again at its usual stage.
The highest it has ever gone was in January 2018 when its market cap reached USD 3.2 billion and the price was USD 0.22 but after that its price has never come close to that range. The Current price of Verge is USD 0.022 with the trade volume of USD 4.5 million and the circulating supply of XVG tokens is 15 billion out of 16 billion total tokens issued. And the market cap is USD 337 million. Its price has gained 5.6% in the past 24 hours.
Its future sure looks bright as there are rumors about the partnership with Paypal and Venmo. And Spotify may also support XVG on the day. So the more partnerships it makes, the more it will trade resulting in the price surge once again.
We all know that Verge is a community-driven platform, but still, they are managing all the social media accounts for communicating with the rest of the world and also for updating their investors about the development of the platform.
Verge is available on all social media websites such as Facebook, Twitter, Youtube, and Discord. The user can see the updates and also ask them anything on their accounts they are pretty active on these social accounts. They also have an active Reddit thread to discuss the stages of development and answer the queries of users to their satisfaction. The Source code of Verge can be found on their official Github account.