What is Verge? | Complete Guide

que-es-Verge
7 min read

Today we will talk about what Verge is, how it works, and what benefits XVG cryptocurrency can give us.

Verge is a cryptocurrency and its main advantages are the privacy and anonymity of the user who uses it. As we all know, Bitcoin is not really anonymous and if a mixer like Coinjoin is not used all transactions are easily traceable.

If someone wants to link your identity with your wallet, they can probably do so. That is why we understand why Verge is focused on offering the privacy differential, since it uses the Tor and i2p nodes to hide the user’s identity and make the transactions that are executed totally private.

But let’s review a little more in depth what Verge is. Follow me.

History

This cryptocurrency began its history in 2014, with the name DogecoinDark and the main idea was to develop a truly anonymous virtual currency. The founder of Verge considered that in the absence of anonymity of Bitcoin it was necessary to build a blockchain where operations could not be traced.

To this day, it is not known who the creator of Verge is, as its founder has used a pseudonym. He calls himself “Sunerok” and has replicated the successful strategy of the creator of Bitcoin, nicknamed “Satoshi Nakamoto”.

Like Sunerok, thousands of Verge users share the idea that sending and receiving money privately is a fundamental human right. For example, when you go on vacation and use your card, your bank knows where you’ve been, how much money you’ve spent and what you’ve spent it on!

Verge: the cryptocurrency that is hidden

Verge’s blockchain is an open source project, which means anyone can suggest changes and improvements. If the majority votes for a change, the changes will come true.

In total a maximum of 16,500,000,000 XVG coins will be issued, much more than Bitcoin for example. The Verge network can process a transaction in approximately 30 seconds and with a maximum of 100 transactions per second.

To understand how Verge works and its transactions let us make a comparison with Bitcoin:

When you send a transaction using the Bitcoin network you need an internet connection. However, when you go online, you reveal a lot of information that other people can access.

Imagine that you want to access Instagram to check how many likes your post has. To do this, your internet provider sends a message to Instagram that from now on will have your IP address.

If you have wi-fi at home, your IP address will always be the same and can be used to get a rough idea of where you are. The same happens when you execute a transaction in Bitcoin.

Verge (XVG) works in a different way. When you access the internet, your IP address is hidden so that no one can see it through two methods.

On the one hand using TOR (The Onion Router) as an intermediary between your IP and the Verge blockchain. In simple words, what TOR does is use different servers to change your IP address and hide your true location.

On the other hand, using I2P networks, which is similar to TOR but even more anonymous as it works with individual paths (it’s like listening to a phone conversation in which you can only hear a part of it).

Differences between Bitcoin and Verge

This graph helps us to better understand what is XVG and what are its differences with BTC:

what is verge

How to mine XVG?

If you want to know how to mine Verge, I will explain how XVG mining works and why it is different from Ethereum mining or Dash mining even though they all use blockchain technology.

One of the most important features of Verge mining is that it uses five different mining algorithms:

    • Scrypt
    • X17
    • Lyra2rev2
    • Myr-groestl
    • Blake2s

Verge Coin is a cryptocurrency with very low fees, high-speed transactions, high volume of circulation, cross-platform support and the Wraith protocol. All these features make it an ideal cryptocurrency for mass adoption in the future and this is why many people are currently choosing XVG mining.

In addition Verge (XVG) is a digital currency that can be mined efficiently with the GPU (Graphics Processing Unit/graphics cards) and ASIC miners (Application-specific Integrated Circuits).

What’s the price of Verge’s cryptocurrency?

Currently the price of XVG is USD 0.003663 per unit. This could be a very good time to buy considering that it is a cryptocurrency that has reached a maximum price of USD 0.300588 in December 2017 (during the escalation of all cryptocurrencies).

This means that the potential of this cryptoactive is huge and it would not be strange for its price to return to the levels of 2017 and its ATH (all time high).

If you want to know how to buy Verge (XVG), let’s move on to the next paragraph.

Where to buy the Verge cryptocurrency?

It is normal that at this point you wonder where to buy XVG, Verge’s cryptocurrency, and let me tell you that you have it very easy. At Bitnovo you can buy Verge online in a very simple and fast way. Our website is designed so that even the most beginners can do it.

You simply have to click on the link in the previous paragraph and there you will see a panel that will automatically calculate how much you will receive in XVG cryptocurrency depending on the amount of Euros you want to exchange.

where to buy verge

Once you have chosen the amount, we will ask you about your of payment method (such as buying verge with a credit card, buying verge with a bank transfer, etc). You will see that it is a very intuitive process that will allow you to have your XVG available in a matter of minutes.