Verge is a cryptocurrency that’s designed to help individuals carry out everyday transactions. It’s built on the original version of Bitcoin blockchain that aims at allowing both individuals and merchants to transact in a fast and efficient manner while maintaining their personal privacy. The Verge currency was created in 2014 operating as DogeCoinDark but later rebranded to Verge in 2016.
Verge Key Features
- Complete anonymity – Through use of anonymity-centric networks, IP addresses of users are obscured and transactions can’t be traced.
- Great community support – Since Verge isn’t run by a private company that has gotten its capital from ICOs or pre-mining, its development is pinned by thousands of supporters.
- Fast transactions – Compared to other coins, Verge claims to carry out transactions super -fast by using the Simple Payment Verification technology. According to this technology, the confirmation time for transactions is said to be approximately five seconds.
- Readiness – With a wide selection of wallets that are secure and private, Verge is more than ready for mass adoption. Its Tor Android wallet offers anonymity for mobile users who transact using coins that are privacy oriented.
- Decentralization – The currency operates on an open platform where there’s no central control of the coin.
Verge Release Schedule
The release schedule is usually updated every quarter. During the fourth quarter, Verge’s black paper v3.0 was released. The release of the currency’s core wallet 3.0 stage 1 with atomic swaps capability and bloom filters is also slated for release. During stage 2 of core wallet 3.0 release, Tor will be integrated as well as optional stealth addressing.
Verge also plans to release an I2P wallet for Android users that allows anonymous mobile transactions on the I2P network. In terms of mining, the XVGui miner and the mining guide will be updated during the last quarter of 2017. Verge has also got branded apparel that can be purchased using the XVG tokens and Bitcoins.
P2P Solutions With Verge
As Verge works towards mainstream mass adoption, it realizes that the social media platform is a great avenue to accomplish that. A user can send or receive XVG coins via social media platforms such as Twitter and Telegram. Planning is underway to include more platforms such as Slack and Reddit. Users can also use the XVG coins to tip developers, pay freelancers or even endorse posts that one likes.
Facts About Verge Currency
- It’s not an inflationary coin since it’s total circulation is capped
- The transaction rate is 100 transactions/second with the rate expected to 2000 transactions /second with implementation of the RSK technology.
- The maximum supply is expected to be reached after about 8-10 years from 2017
- Users can easily support the project by donating funds to be used for development.
- Being a blockchain, Verge has a public ledger where users can see the coin distribution and the number of people using the currency.
- Privacy is provided for token holders by use of the Wrath Protocol.
- Verge doesn’t use Masternodes because they believe in a decentralized network that’s not prone to hacking.