Verge Currency (XVG) is a cryptocurrency which has been designed for everyday use. It aims to provide its users a fast-paced and a decentralized method of doing direct transactions along with maintaining their personal privacy. It was created in 2014 under the name of DogeCoinDark and was later rebranded to Verge in 2016.
A user of Verge has flexible alternatives for sending as well as getting payments. Unlike other cryptocurrencies, Verge is not a private company which requires funding through an ICO (Initial Coin Offering) or pre-mining. It is completely open-source software, efforts on whose development and marketing are put by its community members. This means you can reach out to any developer, including the main developers, easily for providing your own ideas or getting some help.
Moreover, Verge’s ledger is public. This is done for safeguarding the interests of the users of the currency as with the distribution being public one can see the coin distribution and the number of people utilizing the currency. However, one cannot see the source or destination of the transaction or the physical addresses of the users.
What are the various ways through which you can get Verge Currency (XVG)?
• You can buy Verge (XVG) coins over a supported exchange.
• There are official Verge bots through which users can tip each other on social platforms.
• Verge Wallet App can be installed on Android, iOS, Windows Mobile, Windows, OS X and Linux operating system.
What exchanges support Verge (XVG)?
Most of these exchanges allow you to trade Bitcoin and Ethereum very easily for Verge. To buy Bitcoin visit Coinbase
Transactions on Verge
The transaction fee for Verge is 0.1 XVG and transaction gets settled in about 5 to 10 seconds as Verge currency uses Simple Payment Verification (SPV) technology which brings the confirmation time down. As of now, the transaction capacity per second for verge is 100 transactions. However, Verge has plans to implement RSK technology in near future to take up the speed to 200 transactions per second.
How is Privacy implemented in Verge?
Wraith Protocol enables the users to select whether they want public ledger or private ledger.
Usage of Verge over Tor and I2P, the popular anonymity-centric networks, is highly convenient and beneficial as Tor and I2P networks are already incorporated in the Verge currency wallet. The transactions done with Verge currency cannot be traced at all.
Also, the concept of Masternodes won’t be implemented on Verge so it’s a 100 percent decentralized service.
What is a Verge Electrum Wallet?
Electrum is an open-source solution for Bitcoin Lite wallet. Verge has doubled the code for Electrum and done the necessary updates in the code so that it works seamlessly and smoothly with Verge blockchain. A Verge Electrum Wallet uses Simple Payment Verification (SPV) that ascertains the transaction automatically over the Verge blockchain and there is absolutely no need for downloading the entire blockchain.
What is a Verge QT Wallet?
A QT Wallet downloads the record for every Verge transaction which has been done since the beginning of the Verge currency. In other words, entire blockchain requires getting downloaded to your system before you can start using the wallet. This requires your system to have plenty of extra space.
Verge Currency Specifications
Algorithms: Verge supports 5 different hashing algorithms namely Scrypt, X17, Lyra2rev2, myr-groestl, and blake2s.
Block Time: 30 Seconds
Maximum Supply: Capped at 16.5 billion XVG