Review on Verge by Olugbenga Ajayi
Verge cryptocurrency: A Privacy- centric cryptocurrency
Usually transparency and annonymity are two important features of a good cryptocurrency project. In most cases, it is either a cryptocurrency guarantees annonymity at the expense of transparency or transparency at the expense of annonymity and privacy. This trade-offs at times makes it difficult to publicly verify transaction. If there is any feature that users of verge cryptocurrency will benefit, it is these two: transparency and annonymity.
The Verge project achieved this by employing a different methodological approach from the usual cryptographic techniques adopted by other cryptocurrencies to achieve privacy. They make use of annonymity - centric network like Tor and I2p to mask users financial information and make it impossible to trace
The project also use proof of work algorithm with 5 hash functions to formulate their hybrid consensus and Mining algorithm.
XVG is the currency of the project and it is one of the fastest growing cryptocurrency. It is traded on popular exchange like Binance, bittrex and coinspot.
However, the coin price has been relatively unstable for a while.
Pros
- Participants in this project can send and receive payment privately
- The cryptocurrency offers fast and efficient and decentralized Transaction
- It is a cryptocurrency with high profile transparency
- Users can switch between public and private accounts
- It is open source platfom
- Fast and speedy transaction through their simple payment verification
Cons
- The coin price is stable
