Traders of Verge (XVG) found their investment growing up to 400% in minutes over the weekend after a leg up from none other than virus-slayer, John McAfee. In several tweets McAfee has stated that he believes Verge to be one of the safest investments currently available in the crypto-space and followed on to say Verge is genuine privacy coin with real utility, alluding to the current climate where government and big business are taking stock of the crypto-currency space due to the unyielding growth of the sector. Verge is one of the few coins able to fulfill the original core promise of a completely anonymous coin that is cheap to use and arrives almost instantly regardless of what the future brings.
Verge, formally known as Doge Dark, has been around since 2014 but was re-branded in late 2015 when the community agreed the coin needed a new image that better represented the direction of the project. The coin benefits from many of the same advances as Litecoin when it comes to speed and scalabilty, with the addition of privacy tools that integrate both TOR and I2P to create the most powerful privacy coin we have yet seen.
We highly recommend checking out the Verge white paper, known as The Black Paper, available here. At 10 pages long it makes for a quick read.
The Onion Router (TOR)
Most of us will have heard of TOR, the famed technology that makes much of the dark web a possibility. What TOR actually does is utilise over 7000 relay nodes to obfuscate network traffic, bouncing requests between several different locations before delivering them, creating layers of requests from different origins which is where the onion name comes from. You can learn more about TOR here. Despite all of this, TOR relays are not completely decentralised and in the past attempts have been made to hijack nodes to identify traffic with limited success.
The Invisible Internet Project (I2P)
I2P adds yet another layer of obfuscation to this coin. Anonymous connections are achieved by encrypting the user’s traffic (by using end-to-end encryption), and sending it through a volunteer-run network of roughly 55,000 computers distributed around the world. I2P alone is normally enough to protect one’s identity, however when combined with TOR the two unite to create an uncrackable puzzle for prying eyes which guarantees your complete anonymity.
The Wraith Protocol
The Wraith Protocol adds the final level of obfuscation. Users are able to chose between transmitting their transaction via the public blockchain or a private one. From a user perspective this basically means you can elect to not display your transactions to the public, even in their encrypted format. The Core- QT stealth addressing option allows users a safe way of transmitting publicly without any way of linking the transaction back to the origin.
Not Just A Privacy Coin
In addition to the next generation privacy options available in Verge the development team in on task to deliver in wallet truly private messaging, RSK Smart Contracts and Atomic Swaps. This in addition to a novel key generation method termed the Elliptic-Curve Diffie-Hellman (ECDH) algorithm, Verge is definitely one to watch for 2018, at just 5 cents is now the time to invest or is there no space for a new privacy coin? We’ll leave that for you to decide.
Want to hear more about the investment potential of this coin? Check out this video.
Date Published: Tuesday December 19, 2017
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