Verge is among the few blockchain-based cryptocurrency that emphasizes on an entirely anonymous and secure transaction for its users. Multiple anonymity-centric networks have played a significant role in achieving this.
It was originally developed in 2014 and given the name DogeCoinDark (it’s however not related to the Dogecoin), it is only last year that it was rebranded to Verge.
Its unique technology is actually what attracted investors, most of whom prioritize privacy.
So, how does the Verge Technology Work?
Having been improved and integrated with the Wraith Protocol technology, verge users are now able to effortlessly switch between private and public ledgers on the Verge blockchain.
Before this, private and public ledgers were mutually selected, meaning that they could not co-exist on a very similar blockchain. But investors are today free to use whatever ledger they want.
A good example was when Wraith Protocol switched ON – one will not be able to view the transaction data, not even via the blockchain explorer. In instances where lucidity is desirable, Wraith Protocol will be switched OFF automatically – revealing the transaction data on the public ledger.
Additionally, Verge makes obscure the IP addresses in both instances. When coupled with Wraith Protocol Verge certainly becomes the only undetectable cryptocurrency.
Lastly, Verges offers five different Proof-of-Work algorithms for mining. They include; Lyra2rev2, Scrypt, X17, blake2s and myr-groestl. Offering a choice of five different algorithms promotes inclusion, since a wider variety of users will now have an opportunity to not only mine but influence the network. Should one algorithm demand greater mining resources, users get an option of just switching to a different one.
How to Buy?
As indicated on its authorized website, interested investors are advised to choose from a list of highly regarded exchanges like Bittrex when buying verge coins.
Android users are privileged as they can always Verge on the move and receive or send coins using the verge wallet application on their mobile phones.
Benefits of using Verge Coin
As mentioned earlier, Verge is basically about security and maintaining user anonymity just like Monero; so that is its latent upside. Many investors are also applauding its unique technology.
Additionally, transactions on Verge are very fast, comparatively speaking. This is made possible by a Verification technology that ensures the completion of most transactions processed through Verge’s blockchain in less than five seconds.
It’s not a secret that Verge is making incredibly significant moves at the moment. It was recently added to Godex – another exchange which is amongst the coins that are top contenders to getting listed on Cobin Hood’s crypto trading platform. If by any chance the South Korean market resumes to the crypto space then huge numbers of crypto investors previously affected by the government’s decision to freeze crypto accounts will certainly be looking for dependable anonymous coins and of course Verge is set to top the list. Well, we only have to wait and see. Meanwhile, a trusted source has revealed that extra launches and announcements as well as external financial inspection on the coin, will be made this year.
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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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