Points in Time
Overview of Verge
Verge is a decentralized, peer to peer payment system that works similar to Bitcoin but with more privacy and anonymity. Verge was developed from a Bitcoin hard fork and so while it is secure and more anonymous, it remains open source. To achieve this anonymity, Verge utilize IP blinding browsers like Tor to make sure that no transactions can be traced.
Verge is truly decentralized. The network uses a Proof of Work protocol but then they have five different encrypting software allowing as many people as possible to mine XVG coins. They include Scrypt, X17, Lyra2rev2, Myr-Groestl and Blake2s. Each coin will be created after 30 seconds.
Verge wallets is the main differentiator when compared to their competitors like DASH and Monero. To make it truly private, their wallets will implement a specially designed solution called the “BlackHole” which directly connect to I2P-a well-known privacy centric browser from 4 different points and at the same time hide your IP address.
Other than the multi-encryption and BlackHole tech, Verge plan son being the first company to create secure and anonymous smart contracts through their special RSK Token.
Main Developer: Sunerok
Release Date: February 2016