Verge (ETH)Price

(XVG)

Verge (XVG) is an open-source, decentralized cryptocurrency with a strong emphasis on privacy and security. It was initially launched in 2014 under the name DogeCoinDark and was rebranded to Verge in February 2016. The project aims to provide a fast, efficient, and private payment network, building upon the original Bitcoin blockchain to address its privacy and scalability limitations. A core feature of Verge is its privacy-centric design. It enhances transaction anonymity by integrating multiple privacy-focused networks such as Tor (The Onion Router) and I2P (Invisible Internet Project) to obscure users' IP addresses and transaction details. Additionally, Verge utilizes stealth addresses, previously known as Wraith Protocol, which generate unique, one-time wallet addresses for each transaction. This mechanism helps prevent blockchain analysis from linking payments back to specific individuals and offers users the option to switch between public and private ledger transactions. Verge's technological foundation is based on a Proof-of-Work (PoW) consensus mechanism, similar to Bitcoin, but it incorporates multialgorithmic mining, supporting five different hashing algorithms including Scrypt, X17, and Lyra2rev2. This approach aims to enhance network security and decentralization. The network is designed for speed and efficiency, with an average block time of approximately 30 seconds and the capacity to process up to 100 transactions per second. Transaction fees are typically low, around 0.1 XVG. The project is community-driven and open-source, relying on its active community for development and enhancements. Verge aims for real-world usability and has pursued partnerships to facilitate merchant adoption, allowing XVG to be used for everyday purchases. Notable collaborations include integrations with platforms like NOWPayments, MobiePay, MeconCash, and a high-profile partnership with Pornhub (MindGeek) for payment options. Its use cases extend to e-commerce, cross-border remittances, and peer-to-peer transactions. The total maximum supply of Verge is capped at 16.5 billion XVG. Learn more

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