Verge

Verge is a decentralized platform that was developed specifically to offer anonymous transactions to users. It does this by hiding the IP address as well as the location of the trader. The platform Verge happens to be an upgrade of the Bitcoin platform and it was designed to offer fast, secure and anonymous transactions. Formerly called Dogecoin, Verge was rebranded and it has its coin as XVG. Currently, Verge is valued at about $0.69.

Image Source : https://vergecurrency.com/

To ensure that the private information of all users on its platform is secure and can not be seen by a third party, the platform adopts the use of some very efficient technologies, some of them happen to the Tor and the 12P technologies. You will find it interesting to know that Verge offers users smart contracts but at the same time, it ensures that the personal information of users is still secure from third parties.

This cryptocurrency was developed by groups of crypto community members who wanted to be able to carry out transactions which cannot be traced back to them. The anonymity this platform offers is why more large investors and individuals with large net worth currently use it.

Features of Verge

Some of the features of this secure and fast cryptocurrency platforms include :

• Anonymous transactions : Verge was designed primarily for this purpose. It makes use of various technologies that ensure that all transactions carried out on its network cannot be traced back to the owner. Also, not only will the transaction not be traced, the amount of the transaction would not also be seen by anybody else.

• Public and private ledger : this cryptocurrency platform offers users an option to choose either to carry out their transactions in the public ledger where their information could be viewed by others or to carry out anonymous transactions on the private ledger.

• Algorithms : to further ensure security and total anonymity of transactions carried out, this platform makes use of five different proof of work algorithms. They are; blake2s, Lyra2rev2, Scrypt, X17, and myr-groesti. Not only do these algorithms secure the network, they also make it possible for individuals with various devices to mine on the Verge platform.

• Fast transactions : to ensure fast processing of transactions, this platform adopts the use of the SPV technology. Since the adoption of this technology, the average transaction time on this Verge platform has reduced drastically to 5 seconds. According to the community of developers', the Verge network will adopt more technologies to ensure the network becomes faster than it is now.

• With the assistance of the RSK protocol, Verge has become the only cryptocurrency platform that is focused on offering users anonymous transactions and also smart contracts. This is a major milestone for the cryptocurrency platform.

Pros :

• Fast transaction processing or execution
• It is a highly secure network.
• It is an upgrade to the already developed Bitcoin platform.
• Verge also offers the user a highly secure wallet
• Supports the use of mobile devices.

Cons :

• Glitches have been identified on the network.