What is the Verge (XVG) and how can I buy it?

 

Price and capitalization of the Verge (XVG)

Below is the main information concerning the price and the capitalization of the Verge with in particular:

  • the price: in dollars and in bitcoin, as well as the variation of the price over the last 24 hours
  • the rank: world ranking of the Verge compared to aother crypto-currencies (the ranking is based on the market cap of each crypto)
  • the market cap: it represents the capitalization of the Verge in dollars, that is to say the total amount of tokens in circulation
  • the volume: which corresponds to the total amount of XVG tokens exchanged over the last 24 hours (in dollars)

What is Verge?

Verge is a cryptocurrency and its main advantages are the privacy and anonymity of the user who uses it. As we know, Bitcoin is not really anonymous , if someone wants to link your identity to your wallet, they’re likely to succeed. That’s why Verge focuses on offering the privacy differential,as it uses theTor and i2p nodes to hide the user’s identity and make sure that the running transactions are totally private.

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Project Verge: A little history

Verge is a community project, fully open source initiated in 2014 under the name DogeCoin Dark , the goal was to take advantage of the notoriety of the DogeCoin . On February 15, 2016, as the project got more serious, the name Verge Currency was adopted by the community.

There was no ICO (this did not exist at the time) or pre-mining from token XVG , and for a long time it was possible to buy for 1 satoshi .

In December 2017, the XVG price broke records by going from $ 0.01 to $ 0.30 in the space of one week! In particular thanks to a strong media presence prior to the release of the new Tor wallet with the implementation of the Wraith Protocol .

On April 4, 2018, Verge is obliged to carry out a hardfork in order to counter a 51% attack . This happened due to a bug that allowed the hacker to produce each new block with the same algorithm, spoofing the time stamp.

On April 17, 2018, Verge becomes a partner with Mindgeek  to allow payment for adult services on the Pornhub, Brazzers, and Nutaku sites. Other partnerships are to be expected.

On February 16, 2021, Verge blockhain is rolled back 6 months

Six months of activity disappeared from a blockchain! But how is it possible for such a thing to happen? Yet it happened, and it happened at Verge, although these days the developers claim that it is a damage that can be fixed.

Verge’s privacy-focused blockchain (XVG) has faced a major block reorganisation, replacing transactions dating back to July 2020.

Despite potentially being referred to as “the largest reorganization (reorg) that has ever taken place in one of the 100 best cryptocurrencies in the world,” analysts have yet to confirm whether the incident was caused by a coordinated attack.

XVG price has also suffered a drop, as many users woke up on empty balances. 

What is Verge (XVG)?

Verge has been designed for everyday use . It aims to allow individuals and businesses to have a fast , with low cost and totally decentralized way, to carry out direct transactions while respecting the anonymity of both parties. The goal is also to be flexible with an option that allows you to choose to be anonymous or not. Payment can be made on a large scale between merchants or in a more restrictive and private way on a small scale, there is something for everyone. This is made possible thanks to the Wraith Protocol (we will come back to this later in this article) .

Verge uses several anonymity-based networks such as TOR and I2P . The IP addresses of the usershave completely obscured thanks to the Wraith Protocol . The Core QT wallet has TOR integration as well as SSL encryption which adds an additional level of security. The algorithms used are: Scrypt , x17 , groestl , blake2s , and lyra2rev2 .

Verge’s funding is 100% community supported. To date, 2 crowdfunding has taken place:

  • The first in December 2017, to pay for the marketing campaign preceding the launch of the new portfolio and the release of Wraith Protocol.
  • The second in April 2018, in order to finalize the partnership with Mindgeek , but also to promote the integration of Verge at Ledger according to Sunerok . However, Ledger no longer accepts integration contracts since this start year.

The quantity of tokens is high in order to make market manipulation difficult and to provide an accessible offer. In addition, the fees will remain low, unlike other crypto-currencies like Bitcoin .

Details on the current capacity of the Verge network:

  • The fees are approximately 0.1 XVG per transaction
  • The transaction speed varies between 5 and 10 seconds , depending on the state of the network
  • Currently, the capacity is of 100 transactions per second (but with the RSK, this number could reach a level of 2000 transactions per second)
  • There will be 16,500,000,000 XVG in total (max. Supply), the number of tokens in circulation (circulating supply) in April 2018 is 15 billion
  • The issuance of the maximum number of tokens should be reached in 2026

Most crypto- current currencies , which claim to be anonymous and private, only mask transactions on their network. The real problem here is that the users’ IP addresses are not completely hidden. The only cryptocurrency, other than Verge, that follows this rule is the Monero (XMR) . Verge has a transparent ledger that allows anyone to see all of its transactions, but protects user identities and locations by integrating both Tor and I2P so that IP addresses are not exposed.

Verge: What is Wraith Protocol?

Wraith Protocol is a technology that allows the user to seamlessly switch between public and private registries on the blockchain Verge . This option is easily accessible on Verge wallets. The transaction data is thus hidden and invisible on the blockchain explorer. These user-friendly choices, coupled with fast transaction speed, low fees and maximum security, provide a very interesting mix.

The implementation of BIP65 on the Verge blockchain makes it possible to exchange XVGs via atomic swap , thus eliminating trusted third parties on decentralized exchanges (DEX).

A messaging service called Visp is also available,a fully encrypted P2P chat.

How to buy Verge (XVG) cryptocurrency?

If you want to buy the cryptocurrency Verge (XVG), the easiest method if you are Coinbase user is to first buy BTC on Coinbase and then transfer it to Binance . You will be able to buy XVG on Binance in exchange for your BTC 🙂 

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In addition, Verge is available on almost all major exchange platforms, includingYobit, Bittrex and HitBTC . You can also find all of the platforms on which Verge is available at clicking here .

How to store your Verge tokens (XVG)?

There is a wide choice of wallets to store Verge (XVG) tokens. The official wallet is the Windows wallet , for which you will find regular updates on the official site 

In order to store your XVGs safely, you can also opt for a hardware wallet . These wallets take the form of secure USB keys for crypto-currencies. You will be able to store your tokens directly at home in a digital bank safe.

The 2 most secure electronic wallets to store your Verge coins (XVG) are the Ledger Nano S and Trezor.

How to mine Verge cryptocurrency?

Mining Verge cryptocurrency is quite easy with a GPU . There are many pools of mining that you can join. If you are interested in mining Verge, read this guide : blockonomi.com/verge-guide

 

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