Guides to Cryptocurrencies
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10. Verge (XVG)

Founder: Justin Sunerok

Protocol: Wraith Protocol


Overview

Verge is a decentralized open-source cryptocurrency with a transparent ledger that allows anyone to view all of its transactions on its blockchain. However, Verge uses Tor and I2P technology to obfuscate the IP address and geolocation to protect users identities making them untraceable. Verge is hence capable of offering anonymous transactions to the public and the team is committed to focus its ecosystem on privacy protection.


History

Verge was founded by Justin Sunerok who is the current lead developer of the cryptocurrecy team. Verge was created as an improvement over the original Bitcoin and was originally named DogeCoinDark in 2014. It was later rebranded to Verge currency in 2016.


Privacy Technology

With Wraith protocol technology, Verge is reported to be a rare privacy coin that allows users to seamlessly choose and switch between private or public ledger on its Blockchain. When users turn on Wraith Protocol their transaction data will be hidden and will not be visible on the blockchain explorer.


If transparency is required especially with transactions related to government or corporate payments, users can turn off Wraith Protocol, allowing their transaction data to be viewable on the public ledger. So Verge can be used both privately or transparently which will be impressive if their blockchain security is up to market standards.


Development Progress

The project team announced partnership with adult entertainment giant MindGeek on 17 April 2018. Verge reached cryptocurrency market cap of more than $172 million USD and a total coin circulating supply of around 16 billion as of 26th May 2019. Verge is a new cryptocurrency regarded as an altcoin to bitcoin but its maximum coin supply is capped at 16.5 billion XVG which is around 800 times more.


NEXT: 9. Read Tron (TRX) Cryptocurrency Guide