Verge (XVG)

Mkt. Cap.
$ 90.797 M
Vol. 24h
$ 1.452 k
Open 24h
$ 0,01
Low/High 24h
$ 0,01 - $ 0,01
Since
15/02/2016
Circulating Supply
15 827 964 309
Total Supply
16 555 000 000
Hash Algorithm
Multiple
Generation
PoW
Difficulty Adjustment
Every 1 Block
Block R.R.
-
Block №
2 440 985
Block Revard
729.98831429353

Verge Platform and XVG Coin: Key Information, Features, Principles of Work

Verge is an open-source platform with no foundation or company behind it. It is a self-regulated community of users committed to the principles of decentralization, anonymity, and privacy.

XVG is a cryptocurrency launched by the Verge. Just like the entire community, this coin is focused on anonymous transactions and high speed of confirmation.

This digital currency appeared in 2014 and was originally called DogeCoinDark. In 2016 it was rebranded to Verge because the community wanted to separate themselves from the famous Doge meme and the “dark” connotations.

Privacy

The technologies behind Verge are mostly focused on privacy. To ensure anonymous user connection, Verge uses I2P and Tor. Verge uses Tor as the standard for the network transactions that ensure anonymous connection to the blockchain. Therefore, interactions between users and Verge network are difficult to link to an IP address. I2P is used for dynamic information routing, preventing interruptions and congestion. Tor allows an anonymous access and I2P creates a private segment within the global web.

Due to these implemented encryption technologies, Verge’s blockchain is impossible to track.

Wraith Protocol

Users have a choice whether to make their transactions anonymous or not due to the Wraith Protocol. Public transactions ensure speed and transparency, while private blockchain is not reviewable at all. Verge developers implement stealth addresses to accomplish private transactions. Stealth addresses send money to one-time use addresses. Only a receiver can identify them. Currently, this technology is used by the leading anonymous currency Monero.

The main cryptographic technology of Verge coin is an elliptic curve. This type of cryptography allows parties to agree on transactions using private keys and signatures without any third parties and control.

Messaging system

Verge has options for messaging. XVG coins can be sent via Twitter, Telegram, IRC, Slack, Steem, and Discord. To send tokens, one has to know only the username of a receiver. All transactions are processed by bots and transferred to the required addresses. Then the recipient gets a message with instructions on how to claim the money.

Mining

Verge is testing out multi-algorithm consensus and therefore allows users mine XVG coins in various ways. The algorithms are based on the proof-of-work principle. The main difference between them is that some require ASIC and the others are suitable for GPU.

The algorithms are X17, Scrypt, Lyra2rev2, blake2s, and myr-groestl. The main benefit of multiple algorithms is better decentralization and an opportunity for different rigs to take part in mining.

Verge’s aim is a 30-second block interval, split between these algorithms.

Smart contracts

Verge is going to cooperate with Rootstock adding it as a sidechain to process smart contracts. This combination is going to be Turing complete. RSK and XVG tokens can be pegged on Verge and they will have the same price. Users may deposit XVG on Verge and spend RSK on the Rootstock.