Verge, launched on October 9, 2014, is an open-source cryptocurrency (100% POW) based on Bitcoin technology. Its core algorithms are Scrypt and x17. The block time is only 30 seconds and will be recalculated based on the total number of blocks generated. Verge was designed to facilitate payments in everyday use. It was launched in 2014 under the name "Dogecoin Dark" and was renamed Verge in 2016.
Verge is a privacy-focused public ledger that is validated through blockchain technology. Its core is to establish a decentralized transaction supported by a global community. It keeps the Bitcoin network alive in its envisioned state by providing user privacy in the distributed ledger. Being an open-source project, Verges code can be viewed. Users can obtain Verge tokens through exchanges, integrated social platform tipping, or direct purchase through the Verge wallet application. Verge supports scrypt, X17, lyra2rev2, MYR groestl, and blake2s multi-algorithm mining, allowing people with different types of mining machines to mine this coin.
Project Highlights
Complete Anonymity, Privacy First
Verge utilizes a multi-layered anonymous network such as TOR and i2p. User IP addresses are obfuscated, making transactions completely untraceable.
Strong Community Support
Verge is not a private company that raises funds through pre-mining or Initial Coin Offerings (ICO). All development and marketing are supported by thousands of community members.
Ultra-Fast Transactions
Transactions are significantly faster compared to other cryptocurrencies. Simple Payment Verification (SPV) technology allows the average transaction confirmation time to be shortened to 5 seconds.
Active Development Team with Numerous Contributors
The development team is very active and always in close contact with the community. You can easily reach out to core developers for support or new ideas about Verge.
Easy for Mass Adoption
Verge offers a series of secure wallets for multiple operating systems. The revolutionary Tor Android mobile wallet provides mobile anonymity, a unique feature among numerous privacy-oriented cryptocurrencies.
Decentralized and Open Source
Verge is a decentralized currency built on an open-source platform. It is not subject to central control.
Technical Terms
1. Wraith Protocol
The Wraith protocol is a technology that allows users to choose between public and private ledgers on the same blockchain. More details can be found on the blog and Blackpaper.
2. QT
QT is a cross-platform application and UI framework for developers using the C++ programming language. It allows developers to write code in C++ and then release their software to various software and hardware platforms. According to Wikipedia, the toolkit was named QT because "the letter Q looked appealing in Haavards Emacs font, and t was inspired by the X toolkit Xt."
3. QT Wallet
The QT wallet requires users to download the entire Verge blockchain to your computer. In other words, your computer must download a record of every Verge transaction that has ever happened. Currently, the Verge blockchain is about 1GB in size and will continue to climb as more users make transactions. If you are using the QT wallet, make sure your device has enough extra storage space to handle it. Each time you open the QT wallet, the wallet will synchronize and download the latest blockchain data to your computer. If you decide to use the QT wallet, you will likely use it regularly; or it may take an hour or more (depending on when you last opened the wallet) to download the latest blockchain updates.
Use Cases
Wallets, Mining Pools, Stores
Related Resources:
Wallets https://vergecurrency.com/wallets/
