As Bitcoin has progressively permeated into society, more and more people have jumped on the bandwagon to be part of the select group of people who own this digital gold. However, the increasing number of people who now use Bitcoin has affected overall transaction speeds.
Subsequently, people are becoming impatient and looking to other cryptocurrencies that will serve them faster. Verge coin, like Bitcoin, is another peer-to-peer payment network that runs on blockchain technology. However, since Bitcoin was the first digital currency made available, there is room for improvement which is what Verge currency is looking to build on. Verge is highly focused on security and privacy, achieving anonymity by using multiple anonymity-centric technologies that include Tor and I2P, which can be used to encrypt and obscure IP addresses to make transactions untraceable. Unlike with many Virtual Private Network (VPN) providers, none of your activity is ever logged. The Verge currency has outlined a very specific goal for their users, where they aim to empower you by ensuring their blockchain transactions are quick, efficient and private. In their own words, they have stated: With Verge currency, businesses and individuals have flexible options for sending and receiving payments. With a flip of a switch, we offer helpful integrations and tools that enable them to handle large scale transactions between merchants and small scale private paymentsâ.
A verification system called SPV or Simple Payment Verification aims to operate at lightening speeds, with confirmation times kept to approximately 5 seconds. This represents a massive improvement compared to the confirmation times associated with Bitcoin. The number of transactions is also extremely high, with Verge handling 100 transactions per second, whereas Bitcoin can only deal with 5.
Verge has made headlines with the introduction of its âWraith Protocolâ, which is a piece of technology that grants users the ability to effortlessly change between a public ledger and a private ledger on the Verge blockchain. You have the option to choose what level of transparency you want when conducting your online transactions. Whenever the Wraith Protocol is turned on by you, your transaction data will be hidden on the blockchain explorer. Verge is potentially the only truly untraceable cryptocurrency as a result of hidden transactional data by the Wraith Protocol and hidden IP addresses via the integration of the most advanced version of Tor into the Core Wallet. Verge coin (XVG) is definitely one cryptocurrency to watch in 2018. With a team of dedicated developers and a currently low price of under $0.10, we could see some exponential growth resulting from a worldwide adoption in Verge usage.
*Please understand that the information on this site does not constitute financial advice in any way.
0 Comments
Leave a Reply. |