Market Cap Rank Related news. Buy Now. Sorry, no liquidity for this pair. Verge is a cryptocurrency designed as an upgrade of the original bitcoin technology. The coin seeks to become a more secure and private version of crypto, and it will additionally be more suitable for day-to-day use. The Verge XVG coin was initially created as the DogeCoinDark in and has been under constant development since then, changing the project's name in The primary field of growth for the Verge crypto is the advancement of payment tools in order to become an easy-to-use tool for business transactions, everyday payments, and enterprise-grade financial transactions.
Verge is a privacy-focused cryptocurrency and blockchain that seeks to offer a fast, efficient, decentralized payments network that improves upon the original Bitcoin BTC blockchain. It includes additional privacy features including integrating the anonymity network Tor into its wallet, called vergePay, and providing the option of sending transactions to stealth addresses.
The project describes itself as community-driven, relying on volunteers and priding itself on being open source. In February , it was renamed Verge in order to rebrand for easier mass-market adoption and to distinguish itself from Dogecoin DOGE , with which it has no direct connection. The project is now based on the Bitcoin source code. Verge was launched in by Justin Valo, also known as "Justin Vendetta" or "Sunerok," a developer with over 20 years of experience in network security and nearly a decade in blockchain technology.
He first developed the cryptocurrency as a fun passion project to empower individuals around the world with a greater sense of privacy. Valo has stated that he has been programming since the age of 8 and became involved in network administration after high school, working for a Fortune company. After a few years, he decided to start his own network security company. Valo first became interested in Bitcoin in , later getting involved with Dogecoin after its late launch.
He began working on Verge because he believed that none of the altcoins being developed at the time were adequately functional as digital currencies and that the only other serious privacy coin projects Bytecoin BCN and Monero XMR were not sufficient. According to its "blackpaper," Verge was created as a way to fulfill Bitcoin founder Satoshi Nakamoto's vision of a decentralized, trustless electronic payment system while also providing more privacy than is available with Bitcoin.
In order to accomplish this goal, Verge relies on a series of key privacy features. It automatically routes all traffic to and from its vergePay wallet through the Tor network, anonymizing the traffic and masking IP addresses. It also offers dual-key stealth addressing, through which senders can create one-time wallet addresses on behalf of recipients to help protect the recipients' privacy, as well as using atomic swaps to power trustless peer-to-peer cross-blockchain transactions.
Verge seeks mainstream adoption, and as such, the Verge Core team pursues strategic partnerships to increase its awareness and use. It sponsors professional athletes and has partnered with platforms such as payments and rewards ecosystem MobiePay , crypto payments platform and ATM provider MeconCash , and blockchain-based online gambling platform Crazy8Token , among others. The Verge Core team often relies on crowdfunding and community support to be able to scale, market and pursue partnerships.
Learn about Monero , the largest privacy coin by market capitalization. Learn about Zcash , another privacy-focused cryptocurrency. Want to know even more about privacy? Read an in-depth exploration of anonymity within crypto on Alexandria, CoinMarketCap's online educational resource. Stay up to date on the latest in crypto privacy and security with the CoinMarketCap Blog. The total maximum supply of Verge is capped at According to Verge, the supply cap is intentionally high as a way to ensure that the value of each individual token remains low, allowing users to avoid fractional payments.
It also makes it more difficult for any one individual to take control of a large number of XVG in order to manipulate markets. The cryptocurrency did not have an initial coin offering , nor was there any premining of tokens. As such, the Verge development team has said it does not hold a significant amount of XVG. Rather, all currently circulating XVG was introduced through the Verge blockchain's proof-of-work mining process, which is multialgorithmic and supports Scrypt, X17, Lyra2rev2, Myr-groestl and Blake2s.
Under the current emission schedule , rewards are halved every , blocks. The Verge network is secured through a proof-of-work consensus algorithm similar to that of Bitcoin, on which Verge's code is based. However, unlike Bitcoin, Verge supports five different mining algorithms. According to the development team, this makes the network more secure, as more people are able to participate in the mining process. In April , Verge suffered an attack on its network that used an exploit related to the Scrypt mining algorithm to instamine a reported 20 million XVG.
In response, the project initiated a hard fork to patch the issue. It can be traded against fiat currencies such as the U. Are you interested in buying XVG or other cryptocurrencies such as Bitcoin?
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The live Verge price today is $ USD with a hour trading volume of $4,, USD. We update our XVG to USD price in real-time. Verge is up % in. April 13, - The current price of Verge is $ per (XVG / USD). Verge is % below the all time high of $ The current circulating supply. Verge price today is $ with a hour trading volume of $3,, XVG price is up % in the last 24 hours. It has a circulating supply of