What Is Verge?
Verge is a privacy coin. Privacy is a very important aspect of the cryptocurrency sector, at least for a
lot of the people that use cryptocurrencies, and the privacy is prized but not always given. When a
privacy coin comes out, people pay attention.
Verge runs on proof of work, which is the same algorithm that is run on the networks of Bitcoin
and Ethereum. Yet, there is a difference, the proof of work algorithm on Verge runs on five
The Potential Benefits
The team at Verge states that it only takes (.1) verge to send a transaction, which means that, if one
is seeking to send any amount of currency across the world, it would cost a very minimal amount.
This low cost could make verge an interesting use case.
In regards to speed and transaction time, transaction time is only about five to ten seconds.
The network can support about a hundred transactions per second and they are planning on
implementing RootStock soon which would take their transaction level to two thousand per second.
As a privacy coin, they have stealth addresses. With Stealth addresses, a different encryption
algorithm is used thus encrypting the addresses and how it appears on the blockchain. Only the
sender is able to know who sent the transaction and the receiver would know who received it. Thus,
even though it’s all taking place on a public ledger only those involved in the transaction truly know,
to a certain extent, who was involved.
Furthermore, in regards to privacy, the coin, wants to give total anonymity and privacy to all users.
The digital asset seeks to do this through tapping into complex blockchain technologies while
building on top of existing services that cater to anonymity like Tor and I2P. Tapping into these
services that blur your data, internet protocol address and your location allow it to add on top of
what is already present. The future implementation of Rootstock, will not only allow for increased
transactions, it will also allow for anonymous private transactions via the concepts of smart
contracts. These aspects would make the coin unique.
Interesting aspects of Verge
Verge is interesting because they have a fairly large supply, there are 16.5 Billion coins, thus creating
a large market capitalization instantly.
Recent cryptocurrency news
The former head of Visa, Marc O'Brien, who spent 6 years working for Visa UK & Ireland has trade the world of fiat payments for the world of Cryptocurrency payments. Marc O'Brien has joined Crypterium [...]