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Verge (XVG): Bringing Blockchain Transactions into Daily Life

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Verge (XVG)
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Verge (XVG) was initially named as Dogecoin Dark (launched in 2014). However, Verge does not share any attributes with Dogecoin. Wanting to break away from the Doge meme and the connotation the term ‘Dark’ has, the coin was renamed as Verge in February 2016. Verge was developed as a cryptocurrency to be used every day. The main objective of Verge is to fulfill the initial purpose of the Bitcoin blockchain, that is, offering commoners and various businesses an efficient, speedy and decentralized way of conducting direct transactions. The aim is also to maintain personal privacy.

Verge (XVG) is funded by the support of thousands of community members. Unlike many other cryptocurrencies, Verge was not funded by an ICO or through pre-mining. The maximum supply of Verge Coin was set at 16.5 billion. The reason for such a high market cap is that it would enable a large number of transactions every day. The transaction fee is 0.1 XVG and speed is usually 5-10 seconds.

Anonymity

  1. Tor Integration: Tor (The Onion Router) is “an obfuscation service which allows anonymous communication across a layered circuit-based network.” (as described in github.com) Tor drives internet traffic through an overlay network that features over seven thousand relays that has the ability to conceal a user’s location and usage data from anyone conducting a network traffic analysis. The encryption in the application layer of communication protocol stack in Tor is layered like an onion. The routing of communication is partially hidden at every loop in the Tor circuit. This way the communicating peers cannot determine the user’s location through network surveillance.
  2. I2P: I2P, as well as Tor, ensures anonymous access to online content. I2P uses a P2P style routing structure that works through layered encryption. Unlike Tor’s circuit-based routing, I2P executes packet based routing. The advantage is that it allows I2P to avoid congestions and service interruptions in a method akin to the internet’s IP routing. I2P is a highly complicated tunneling service that effectively hides all Verge data sent over the network. An I2P router of a client application builds many inbound and outbound ‘tunnels’, a sequence that passes data one direction. When a client sends Verge data to another client, the message is passed through one of these outbound tunnels by aiming at one of the inbound tunnels of another client. Finally, the data reaches its destination.

Wraith Protocol

The users can opt from public and private ledgers through Wraith protocol. This way the public transactions can be viewed by other users on the blockchain while the private transactions remain completely private. A user can also choose to completely hide the transaction data. Verge plans to send the private transactions data using obfuscated addresses through Tor. The recipient is the only one who can identify the stealth address and redeem funds. Cryptography of Verge is based on the well-established elliptic curves. Through this, the interested parties can share information and agree on the transaction keys and signatures without any knowledge of the observer.

Tor and SSL Integration

Prior to Wraith Protocol, the users of Verge’s CoreQT wallet conducted transactions through clearnet. Now, Verge is guiding them towards Tor. They have also ensured that the QT wallet will only be able to communicate with Tor such that the users remain anonymous. The Tor integration of Verge also combines SSL encryption that institutes a secure and encrypted link between wallets. SSL encryption ascertains that the transactions between the wallets are completed without being intercepted and altered.

Wallets

Verge uses the Electrum wallet that supports both Tor and I2P integration. The users will have the added advantage of secured offline storage of tokens. While sending XVG the user can sign the transaction with his/her private key offline. The clients can use another computer without any access to their private keys to broadcast the transactions online.

Electrum has a sound security system and incorporates passphrase key recovery and multisignature. The Electrum wallet links the decentralized servers that index the blockchain.  The users need not download the entire transaction history.

Verge (XVG) sustains two Android wallets; one allotted for Tor and the other for I2P. The mobile wallets sport security measures like biometric and PIN codes locking. These wallets also support QR codes to work with paper wallets. Another way in which Verge facilitates blockchain transactions daily is by allowing messaging transactions via Telegram, Twitter, Discord, and IRC. The tokens can be sent by providing the recipient’s username. A bot processes the transaction and stores the funds in a holding address. Then a message is sent to the recipient with proper instructions on claiming the fund.

In 2018, Verge plans to employ atomic swaps that will enable interoperability between Verge and other cryptocurrencies. Verge (XVG) is currently tackling the privacy issues of cryptocurrency and blockchain technology. Verge thus provides a high level of security and anonymity with the help of Tor and I2P that will encourage blockchain transactions in everyday life.

We will be updating our subscribers as soon as we know more. For the latest updates on XVG, sign up below!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency.

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How Can Foreigners Get Loans in Singapore

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loans for foreigners in Singapore
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Foreigners who are residing in Singapore and looking for financing could do so in the form of a payday loan. It is good to find out that you can borrow the money from a reputable lender and that the interest rates are low enough for it to be a viable option. Online lenders that specialize in doing business in the country can certainly help one. These online companies are not only reliable, but their service is fast.

At the same time, many cannot afford a high standard of living. Many individuals cannot afford essentials, such as a car or a house. It can be difficult for the majority of the working class to scrape through on their basic salary. 

What defines a foreigner in Singapore? 

A foreigner in Singapore means that you are not a permanent or natural citizen there. As a foreigner, you will not be holding a Singaporean passport. The rules can differ a little for foreigners and residents. Singapore, being a multinational hub, houses many foreigners within the city. Foreigners come to Singapore for the many attractions it offers. Many people come to Singapore for Work-related purposes. A lot many also come for vacations or to visit a friend or a relative. Some foreigners come with a plan to move to Singapore permanently, attracted by their lavish lifestyle. Singapore also…

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Altcoins

Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors

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Aluna.Social
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When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat.  These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor.  But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.

Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace.  The real benefit to trading in these offices is to participate in the free flow of trading ideas and information.  Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed.  Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?

While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.

Mission Statement

Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors.  The goal of the platform is to help newcomers shorten their learning curve,…

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CoinFlip Scores Big with BRD Wallet Partnership

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CoinFlip
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As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…

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