Reclaiming Privacy : How Verge Currency is revolutionizing cryptocurrencies to bring it to the masses

Cryptocurrency space is a world dominated by Bitcoin. In this world, the prices are high, the supply is low, and the speed of transactions is slow. The privacy here is almost non-existent. Bitcoin was a breakthrough, but its technology is now outdated.

Without proper anonymity with respect to transactions, users are vulnerable to their data being captured by large organizations or malicious groups in a bid to sell the data.

Stealth investments are no longer possible without transactional privacy. People have to use multiple different cryptocurrencies, one for regular usage, say as an investment plan, or for buying goods or using services. And a second one for making stealth mode payments or investments.

In other words, a person would require a public ledger and a private ledger to meet all the transactional requirements.

Verge Currency

Started in the year 2014, Verge Currency was built to solve the very problems people had with respect to Bitcoin and many other currencies.

Verge is the most privacy-focused cryptocurrency on the market and is also the only 100% untraceable currency in the world.

“How is it better than Bitcoin or any other privacy-oriented coin?”, you may ask.  To answer this, we can compare the foundational features of Verge to that of Bitcoin.

 

  • Verge Currency is built for mass adoption. The total supply of Verge currency is around 16.5 Billion coins. There is enough coins for all the people on earth to use as a world currency. Bitcoin in total has only 21 million coins. No wonder, to purchase a can of soda, you would have to pay 0.000079 bitcoins.
  • The speed of transactions matters to users who are using it as a primary mode of payment. Bitcoin takes roughly 10 to 30 minutes to confirm your transactions. Transactions with Verge Currency happen in seconds.
  • Verge protects the Privacy of individuals by routing the transaction requests through an anonymity-centric network called  TOR. This way users’ IP-addresses are completely concealed.
  • Mobile privacy is also one the key features of Verge. This makes sure that all the smartphone users have a simple interface to transact with Verge while staying anonymous.

 

Making The Coin 100% Untraceable

 

verge currency

 

With the release of Wraith Protocol in January 2018, Verge will become the only cryptocurrency in the world to be completely untraceable.

So what is the Wraith Protocol? It is a technology that allows switching between public and private ledgers. The following example demonstrates the relevance of such feature.

Consider that you are paying house rent or you’ve got some medical treatment and you have made the payments with Verge. You would want this transaction to be visible to claim tax benefits. For this, you will need to make use of a public ledger.

In another scenario, you are an angel investor looking to invest in a company. But you do not want to be exposed with regard to this purchase, nor do you want the investment amount to be seen or worse, leaked. To accomplish this task, you would need a private ledger.

 

The Wraith Protocol allows you to chose either a public ledger or a private ledger just by toggling a button. With the Wraith Protocol™ switched on, transactions cannot be publicly linked to either the sender or receiver addresses from which they were derived. When Wraith Protocol™ is off, the transaction is recorded in the public ledger and can be found with a blockchain explorer, similarly to Bitcoin’s blockchain.

Verge Currency is the only cryptocurrency that allows to you use either the public or the private ledger on the same blockchain.

You are in control of your data and your privacy something that is very much necessary in today’s world of surveillance and personal data collection by large corporations and governmental agencies.

Verge Core Wallet 3.0  is released along with the launch of Wraith Protocol. It has the following features to make transactions simple for all users:

 

verge currency

 

This is The Currency For Everyone

Verge’s motto is to build a currency that everyone can use, To make blockchain transactions a part of everyday life.

To facilitate this, Verge provides fully private, simple to use mobile app for individuals. The purpose is to give the choice to the people regarding the use of their transaction details.

Large organizations, merchants or small private firms can use Verge to make large transactions with the same efficiency and speed as small individual transactions. Verge provides multiple integration pathways including payment gateways for internet companies to easily sell goods and services.

Verge Currency was designed around the following principles:

  1. Ample Coin Volume
  2. Ultra-fast -5 Second Transaction Speeds
  3. Industry Low Fees
  4. True 100% Anonymity and Identity Obfuscation (provided as an optional toggle/choice)
  5. Open-Source and 100% Community Funded (no pre-mine, no-ICO)

These ingredients achieve the perfect alchemy for Verge to mature into a globally adopted currency, free of corruption and forever an open-source and decentralized project. With RSK Smart Contracts on the horizon and future plans for a decentralized Point of Sale integration, Verge Currency is poised for greatness.

Important Links

  1. Official Website
  2. Buy Verge on Binance
  3. Verge Currency on Twitter

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Verge currency Address –  DDndhaMRyMVhtx7ZvMaL1k6LHxUKdku1KF
Bitcoin address – 1JW1YQTLztqSrJVbHnvbzCdjQWJYEQjaYy

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akshay pai

I am a data science engineer and I love working on machine learning problems. I have experience in computer vision, OCR and NLP. I love writing and sharing my knowledge with others. This is why I created Source Dexter. Here I write about Python, Machine Learning, and Raspberry Pi the most. I also write about technology in general, books and topics related to science. I am also a freelance writer with over 3 years of writing high-quality, SEO optimized content for the web. I have written for startups, websites, and universities all across the globe. Get in Touch! We can discuss more.

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