What is Verge coin?
What is Verge? Verge Coin Review, Verge (XVG) is a Blockchain project that makes it possible to do anonymous transactions by hiding data such as location and IP address. In this article, you can access the answers to frequently asked questions such as what Verge is, what it offers, what is XVG coin is, how to get it, and what is it used for. We compiled it for you. Let's examine the project together.
What is Verge?
Founded in 2014 as a privacy-focused fork of the Dogecoin blockchain, DogeCoinDark rebranded to its blockchain in 2016 and rebranded as Verge. Verge is a blockchain project that allows users to transact anonymously. The native cryptocurrency of the project is the XVG coin. When a user wishes to transact, the platform encrypts private data such as IP address and location, making it possible to transact anonymously. The IP address makes it possible to monitor the activities of a device connected to the internet. Many blockchains, including major blockchains like Bitcoin and Ethereum, allow tracking of users' IP addresses.
The project has a decentralized and open-source structure. This means that the decisions that determine the future of the project are made by the community. The project works as a payment network that allows for anonymous transactions. Users can purchase services and products in a completely confidential manner. Users can integrate Verge Pay wallets into the Tor network. The platform uses the Proof-of-Work (PoW) consensus mechanism. This means that users with high processing computers can mine XVG.
What is an XVG coin? What is it used for?
XVG coin is the native cryptocurrency of the Verge network. Designed as a means of payment for daily use, the maximum supply of the altcoin is capped at 16.55 billion units. XVG is a minable cryptocurrency. Users with high-powered computers can earn XVG rewards by mining and verifying transactions. In addition, the altcoin has various use cases within the network.
Users can use XVG coins for governance purposes. By participating in the management of the platform, users who hold the altcoin can vote and submit proposals for the exchange to the community. XVG can be spent as a means of payment in apps and businesses that accept the asset. In 2021, the popular travel booking app Travala announced that it had adopted XVG. Users can shop with crypto assets from such contracted places. At the time of writing, the XVG coin had a market cap of around $175.9 million and was the 278th largest cryptocurrency.
How to get XVG coins?
Currently XVG coin; is listed by crypto exchanges such as Binance, Huobi Global, Gate.io, and HitBTC. Investors interested in the Verge project should first become a member of one of these crypto exchanges. Investors who are fully registered can purchase the altcoin by depositing a fiat currency such as dollars, euros, and liras into their wallets.
Is Verge coin a good investment?
Yes. Verge is a good investment option. Based on fundamental and technical analysis, this digital asset would prove to be a pioneer, and it may gain better future results in terms of prices.
How does Verge coin work?
Verge coin is a decentralized open-source cryptocurrency that offers various levels of private transactions. It does this by obfuscating the IP addresses of users with Tor and by leveraging stealth transactions making it difficult to determine the geolocation of its users. Verge coin is a proof-of-work cryptocurrency based on the script and x17 hashing algorithms.
Verge coin uses multiple anonymity-centric networks such as Tor and I2P. The IP addresses of the users are obfuscated and the transactions are completely untraceable.
The Verge blockchain also supports Atomic Swaps, making it possible to exchange different cryptocurrencies in a decentralized manner without any third parties involved.
Verge, along with Monero and Zcash, is among the most popular privacy coins on the market today.
Is Verge backed by Bitcoin?
No, Verge is not backed by Bitcoin. Verge (Symbol: XVG) is a cryptocurrency designed to give users TOR-level privacy and security while still allowing the cryptocurrency to be practical for everyday use.
Bitcoin was not designed with privacy in mind. Every transaction on the bitcoin blockchain is traceable back to an IP address. Even if you are using a VPN, the VPN service provider can still see the IP address of your computer. So you have no true privacy when using Bitcoin.
This lack of privacy can cause problems for people who need to transact business privately and securely. For example, if you're trying to buy something illegal or embarrassing with Bitcoin, that transaction is traceable back to your IP address.
How Much Is Verge coin worth?
Verge Coin Price prediction, The coin appears at the price of $0.01061 on April 17, 2022. With this price, it has a market capitalization of $737,929,291 with a circulating supply of 69,284,168,000 XVG coins and a maximum supply of 16,555,000,000 XVG coins. The trading volume sits at around $1,353,523.