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Verge cryptocurrency: guaranteed anonymity of your transactions

Verge: technology and working principles

The developers call the exact amount of issued coins - 16 billion 555 million XVG. And more than half (9 billion) was published back in 2014. The remaining part is evenly distributed every year. The explanation for this is quite simple: this approach prevents a situation where a small group of people can own a large number of coins. As of 2023, there are 16,519,940,700 coins in circulation.

According to the project's creators, their main goal is to provide people in every corner of the globe with the ability to make purchases quickly and privately. Privacy tools used:

  • Black hole technology can classify users' IP addresses, providing high data protection.
  • The project is based on anonymous i2P and TOR networks. The encryption tools used make it possible to reduce the tracking of transactions to zero. Because network participants do not connect to the necessary resource directly, they can hide themselves. Therefore, the owners of crypto coins make small private payments or large transfers with zero risk of being detected.
  • But the possibilities of TOR are not unlimited, as it is a centralised system. That's why Verge developers have tapped the resources of the Invisible Internet Project, an i2P tunnelling system that uses IPV6.
  • Another element that supports the high level of anonymity of Verge users is the Wraith Protocol, thanks to which addresses are protected from decryption attempts.
  • The RingCT technology makes it possible to hide the transfer amount. At the same time, the transaction speed is at most 5 seconds.

As a result, all tools turn cryptocurrency into almost 100% anonymous. It is impossible to find out the location of users and their transactions.

Features and benefits

Given the high level of security of transactions, Verge has become a well-known cryptocurrency. What the developers offer users:

  • Minimal or zero commissions when making transactions. This is because the project is decentralised; the state or investors do not control it, it is based on an open-source platform (the sources are present on GitHub).
  • Non-refundable payments: a convenient and safe way to get paid for your services and not risk that the user will want to return the funds.
  • Possibility to exchange crypto coins for fiat money through various exchanges and exchangers.
  • Openness: the developers have no funding and do not earn money from pre-mining the coin or ICO. The team only accepts help and donations, which go to improve the currency.
  • Transcendent privacy: the inability to trace transactions and users' location attracts more and more coin holders.
  • Availability and variety of wallets: secure wallets work on major operating systems (Windows, Android, Mac, Raspberry PI, Linux, etc.), including mobile devices (TOR Android wallet). The level of security is maximum.
  • Instant transactions: after installation, the software connects to the blockchain. Transaction time is about 5 seconds. Confirmation of each payment goes through verification (SPV).
  • There are 5 algorithms available for mining: x17, groestl, lyra2rev2, Scrypt, blake2s. Due to them, it is possible to distribute rewards evenly among miners.
  • The Atomic Swap product allows you to exchange XVG for other tokens without intermediaries.

Such principles of work attract users, so the project once developed rapidly and even entered the top 20 in terms of market capitalisation. Unfortunately, this is long in the past; the coin did not withstand the competition.

XVG: fair mining

One of the undeniable advantages of mining this cryptocurrency is that the reward is distributed among miners, considering the total number of extracted blocks.

At the same time, the project has the following technical capabilities:

  • 30 seconds - the time it takes to create a block.
  • Generation protocol: Proof of Work (PoW).
  • 5 available algorithms: Blake2s, Scrypt, Groestl, Lyra2rev2, X17.
  • The complexity of the algorithm used is analysed and recalculated after each block.
  • The reward for each block mined: 200 XVG (regularly decreasing). As of June 2023, more than 16.51 billion tokens have been mined (total number of announced coins - 16,555,000,000).
  • The most profitable equipment: ASIC miners.

Professionals with experience recommend selecting equipment taking into account the algorithms used:

  • X17: the best option is the Baikal mini or Giant A900;
  • Blake2s: it is better to take Giant-B;
  • Script: Antminer L3+ will do;
  • Lyra2REv2: it is more favourable to stop on BlackMiner F1+;
  • Myr-Groestl: the best solution is Baikal BK-G28.

Actual equipment can be picked up with the help of special mining calculators, for example, Whattomine.

How to buy XVG coins

To get Verge coins - it is enough to become a client of one of the crypto exchanges, for example:

  • Binance;
  • MEXC;
  • BingX;
  • Coinex;
  • Bitfinex.

Here you can also exchange, deposit and withdraw received funds. The average exchange rate of XVG coin is $0.0015.

It is also possible to exchange through specialised exchangers, which can be found with the help of our monitoring. The exchange rate will be less favourable, but many convenient payment methods are available.

Exchange Verge to e-currencies

On our site you can see the current exchange rates of Verge (XVG) to other electronic payment systems.

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© – , updated 08/28/2023
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