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Verge (XVG) Provides Privacy Without Sacrificing Confidence

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Verge
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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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Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

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Bitcoin crash
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The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

The crash that analysts are predicting right now comes as a direct consequence of all the hype that has been building up in…

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Altcoins

Top 3 Coins to Buy Before They Go Big

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coins
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Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

Putting TRON on the list should not really surprise anyone, as the project constantly comes up with new project updates, partnerships, and alike. It also constantly breaks records, as is becoming one of the biggest players in the dApp and smart contract development sector.

In the past few…

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Blogs

Can Crypto Credit Cards Disrupt the Fight Against Financial Crime?

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crypto credit cards
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It is commonly known that the world of finances has the biggest problem with the crime of all existing industries around the world. It has been so throughout history. While the financial world has evolved, so did the criminal activities, and they continue to be an issue. With the arrival of cryptocurrencies, many were hoping that financial crime might be disrupted. However, for now, at least, it appears that cryptos themselves cannot find a way to resolve issues such as international money laundering.

In fact, when it comes to money laundering, the crypto sector appears to be the weakest link, especially because of the nature of digital currencies. The anonymity that cryptos are being praised for means that anyone can get a payment from an unknown source from anywhere in the world. This method can then be used for financing drug trafficking, cyberattacks, terrorists, and more.

Until recently, it was not easy for bad actors to make use of cryptocurrencies obtained for illegal purposes. The number of merchants willing to accept the coins was low, and criminals were forced to find a way to exchange crypto into fiat currencies. However, this came with a set of issues, such as taking foreign exchange risks and then sending the money through wallets and exchanges to a banking system that would allow withdrawal. The banking account was the biggest obstacle here,…

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