What is Verge

 

What is Verge XVG? Verge is a cryptocurrency designed for people and for everyday use. It improves upon the original Bitcoin blockchain and aims to fulfill its initial purpose of providing individuals and businesses with a fast, efficient and decentralized way of making direct transactions while maintaining your privacy.

 

 

Verge coin was founded in 2014, going by the name of DogecoinDark.  The main reason it was created was to create a truly private cryptocurrency. The founder of Verge felt that Bitcoin wasn’t anonymous, so he decided to build a new blockchain where transactions could not be traced.

Keeping to it’s DogecoinDark roots, Verge published their technical information in what they called a  “Blackpaper”. The Source Code can be found on “GitHub”.

 

The video below is a short introduction to Verge

What is the total supply of Verge Currency?

The maximum supply is capped at 16.5 billion XVG.

 

 

Why is the total supply so high?

Verge Currency is designed this way on purpose to allow for convenient payment amounts in everyday use. As opposed to Bitcoin, you would not have pay with 0.00004 BTC, for example. Another reason is to reduce the risk of market manipulation by making it harder to control a big portion of the total supply.

 

 

 

Mining XVG

Another important feature of Verge coin is that it has five mining algorithms, which are listed below.

  • Scrypt
  • X17
  • Lyra2rev2
  • Myr-groestl
  • Blake2s

These were implemented to make mining more equitable and accessible.

 

As Bitcoin has become so popular, people need to buy really expensive hardware to be able to mine meaning that it requires a massive capital outlay to mine.

Verge is different, as people can mine using CPU’s, GPU’s or ASIC’s, making it available to a much wider audience.

 

 

Privacy

The main feature of Verge is that it is completely anonymous and privacy-focused – Verge uses multiple anonymity-centric networks such as Tor and I2P. The IP addresses of the users are obfuscated and the transactions are completely untraceable.

 

Other unique features of Verge

  • Verge transactions are fast thanks to 30 seconds blocks.
  • Verge has a public blockchain, which allows anyone to see coin distribution, a number of users and other statistics, while keeping meta transaction data anonymous.
  • With the future implementation of RSK technology, Verge will be the first privacy-focused cryptocurrency with integrated smart contracts functionality.
  • Verge maximum supply is fixed and amounts to 16.5 billion coins. Such supply allows for fairer distribution, prevents market
  • The Wraith Protocol will make it possible to hide transactions in a private ledger but it leaves an option of transacting across publicly accessible ledger for those who value transparency and keeping records.

 

If you are interested in trying Verge you can buy, sell or trade XVG, here.

 

Get your copy of What is Bitcoin

This e-book on Amazon explains what Bitcoin is, it explains that Bitcoin (BTC) is a virtual currency, digital, not physical, and independent of banks. Useful links and resources for the newbie and advanced Bitcoiner or cryptocurrency enthusiast.

 

 

Please leave your questions and comments below:

Download the free Bit-Media App from the Google Play or Apple stores.

Click below and get your FREE BIT-MEDIA APP

Are you a Bitcoin Believer? Test your belief here - The Bitcoin Believers Business Manifesto

 

EOT Wallet /Exchange Review

 

 

EOT, quietly creating the Economy of Things