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Verge (XVG) Provides Privacy Without Sacrificing Confidence

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Verge

There are private coins that exist solely to obfuscate transactions. Then there are private coins that exist to protect their users. Verge’s XVG is the latter, using their strong anonymity protection to ensure that their coin remains decentralized and uncontrolled. They maintain a public ledger, and all transactions are transparent, ensuring that blockchain validity is monitored. The combination makes Verge a strong choice for investors looking for privacy, without entirely eliminating accountability.

Open source and fairly distributed, the Verge cryptocurrency avoids the pitfall that many coins face. Their development team holds no overwhelming amount of the original allotment of coins, and as such, there should be no fears that they will suddenly flood the market. Their inability to pull an exit maneuver is an added feature of the blockchain’s validity. It’s also a good sign for those looking to invest.

From DarkDoge to Verge

Verge began life with the name DarkDogeCoin. This somewhat marketing unfriendly name came about as a result of their focus on the DarkSend system currently in use with DASH digital currency. Users sent a specific amount of coins. That specific amount is divided and scrambled with other senders to eliminate tracking. In 2016, they re-branded under the current Verge name. The focus hasn’t changed, but the unnecessary comparisons to the DogeCoin meme-based cryptocurrency are readily avoided.

Ultimately, the purpose of Verge continues to be anonymous, easy transactions. Their blockchain design is quick and efficient for use with real-world applications – transactions fees are still fairly low, and the chain can process 200 transactions per second. This is drastically higher than Bitcoin itself, in line with other coins from the early eras. They have announced their intention to incorporate RSK technology into their blockchain, which would enable up to 2,000 transactions per second.

Transparent Stealth

Anonymity and the obscuring of user data is not only the major component of the Verge blockchain. It’s also the founding reason for its creation. Initially focused on the DarkSend software developed by DASH, they have expanded their options and opened up new avenues to allow for complete obscuring of personal data. Currently, they offer transactions through both Tor and I2P. Both allow the removal of geolocation and identity usually tied to transactions.

At the same time, the developers of Verge are aware of the necessity of a visible, public, distributed ledger to validate transactions and provide some form of auditing for the system as a whole. Otherwise, users have no way to verify Verge’s decentralization claim. It would be possible to drop large amounts of XVG into the system invisibly.

Verge or Monero?

Monero has a high level of buzz lately, and not all of it for good reasons. As a completely private coin, they run the risk of use for a variety of unsavory purposes. Almost invariably, if a website is caught mining cryptocurrency through embedded code – it’s Monero. Still, this is not the fault of the cryptocurrency itself, but the people who are using it. Monero is only a tool.

At the same time, Verge sidesteps these issues with their public ledger and transparent code base. No one is going to be using the Verge blockchain to launder massive sums of money, and their mining is equally transparent. While both coins exist in the ‘dark web’, Monero’s design uniquely suits the space. Verge has with real-world usability, and that means certain fail-safes that make the currency less attractive to criminal elements.

Verge into the Future

Unlike their various competitors, Verge did not have a pre-mine. Where many coins are switching over to a Proof of Stake algorithm, Verge has decided to remain Proof of Work. This prevents hoarding of XVG by those with a large initial capital. Further, they have a multi-algorithm mining platform that allows almost any mining rig to join the network – ensuring additional decentralization in addition to a larger potential mining pool.

Verge recently enjoyed one of the largest spikes in value in cryptocurrency history – going up over 800% as a result of the words of John McAfee – a controversial figure in the cryptocurrency sphere. This coincided with the market spike at the end of last year, resulting in very high returns for those that happened to be holding XVG at the time. While it is unlikely to see that happen again, Verge continues to be a solid project with a promising future.

We will be updating our subscribers as soon as we know more. For the latest 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 and read our full disclaimer.

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Altcoins

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

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Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.

Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.

The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.

NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.

NFTs are already being actively traded in markets globally. For…

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Altcoins

Should Crypto Projects Devote Resources to Community Growth and Marketing?

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2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for.  While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory.  When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion.  But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.

I mention both of the above projects as they have each taken slightly different paths to achieve greatness.  Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion.  Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special.  Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.

Cryptocurrency vs. Blockchain Technology

It’s important to make a distinction between blockchain technology and cryptocurrency.  Although they are often used interchangeably, they are different.  Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…

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Altcoins

XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata

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Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //

The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.

As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021. 

“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.

He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”

Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”

Mr. Yamagata has been…

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