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What is Verge (XVG) Coin and How it Functions?

What is Verge Coin?

Verge coin is a very well-known cryptocurrency and it offers to make the blockchain-based transfers unidentified and non-traceable. The cryptocurrency’s token is XVG and it is for daily use. The currency’s main target is to complete its prior goal of offering people and businesses with an efficient, decentralized and quick path for making direct transactions. It also provides total anonymity and privacy to the people.

Verge (XVG) Coin History

It was created in 2014, initially started with the name of “DogeCoinDark” and in 2016 it was renamed as Verge currency. It is also a 100% open-source ecosystem and community-driven. One other nice feature of the Verge Currency provides to its customers is that it gives a quick confirmation price. The blockchain technology also provides total privacy to users through powering a non-standard technology to attach the customers with the network.

The Verge currency doesn’t have ICO and it makes mainly from its public donations and volunteer works. Also, for providing the high-level privacy and security to the users, the currency’s main functioning team signed their usernames on the black paper of the currency. The currency is functioning and providing the users with new technologies and offering some new high-tech security features to their goals and be among the top cryptocurrencies in the market.

Verge: Focus on Technology Empowerment

The Verge currency is now drifting away from the internet to empower its security and anonymity. Usually, to make a transact from one computer to another, the users require an Internet Service Provider or ISP, which functions as a middleman to forward the message generated during the connection of computers. Further, to convey the message, the ISP requires the IP address of both senders and receivers. With this process, the ISP can access a lot of information about users such as the receiver’s location, sender’s location, name, and other personal things and it also can be hacked.

To solve these problems Verge coin uses to important technologies that are:

Tor: The word ‘Tor’ simplify as “The Onion Router” and the good thing is it is free. It is a software that provides anonymity to IP addresses and offers privacy and high security to the users. The name of the software is unique and so as the function of the online routing information. As the name implies the software envelope the message in various layers of encrypted codes by recoiling the attachment among the 1000s of the workers relaying computers on the peer-to-peer ecosystem, instead of utilizing one ISP to transfer the message from one computer to another.

This recoiling of encrypted codes among 1000s workers assures that the IP changes several times before it gets to the receiver. This makes it hard to trace and it is executed by Verge as standard software for transactions to enhance the anonymity and privacy of the users on the blockchain.

I2P: I2P stands for “Invisible Internet Project” and is an advance next-gen solution for anonymity. The I2P concentrated on providing a safe and unidentified internal connection among the customers on the I2P platform. It is also known as ‘Darknet’ because it generates is own private platform inside the internet platform. The build-in different ways, one for incoming and second for outgoing messages. It encrypts one message into two different ways. It is like two different message boxes, one for receiving and one for sending and it hides every IP address. The I2P is also very difficult to decode when the message gets received.

The users can choose between whether to Tor or I2P to make a transaction, however, the IP address of users will assure be anonymous.

Wraith Protocol: Verge currency also has hold of Wraith Protocol and it is a technology that provides choice to users to opt from private and public blockchain transfers. On one hand, the private transfer promises non-traceability and total private transaction, on the other hand, the public transfer promises to be quick and transparent.

Verge Coin Future

The Verge currency constantly changes their security and anonymity policies and it is an open-source and decentralized network, which assure the support of the community. The team of the Verge currency is launching a sidechain system with help of Rootstock assignment. This will make the smart contracts process accessible on the network.

If the team of Verge currency can do this, then it will be portrayed as the most unique anonymized blockchain system in the cryptocurrency market and the other currencies like Monero and Zcash’s grip also increase.

Currently, the currency is trading at a value of $0.003529 and its value is decreasing by 8.79%. The market capitalization of the currency is $56,452,884 and the 24-hour volume is $3,880,812. The all-time high of the currency was $0.26 on 24th December 2017. The circulating supply is 15,995,868,689 XVG.

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About Arushi Dubey

Arushi Dubey is a student of Bachelor in Arts( Psychology). She is pursuing Psychology in arts with English literature and French Language. She is well versed in the English language. She is good at expressing her thoughts into words. She is still getting more and more trained in gathering knowledge related to Crypto Currencies and expressing them.

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