When it comes to the features of blockchains, not all of them are considered desirable. One of these problems is the question of anonymity. Not all blockchain applications offer tough security and anonymity, and in some cases the overt focus on transparency with some blockchains can lead to users’ transaction data being public record – and not everyone wants that.

Verge is trying to change that. It’s a platform and currency that has anonymity and efficient transactions as their focal points. An open-source project, it has no official development company, instead being led by a group of volunteers from the community.

The project started in 2024 as DogeCoinDark, but re-branded themselves later as Verge as a demonstration of their newer, more serious direction.

With this article as your guide, you’ll get an idea of what Verge is, how it works, and whether it’s right for you. And be sure to check our list of the best altcoins of 2024, and see which ones made the cut.

How Do You Make Connections Anonymous?

In order to connect to networks, users have to give up a crucial piece of information: their IP address. This is what allows the network to see who you are so they can transmit information to the recipient – who also needs to give up their IP address, otherwise the network won’t know who to send the info to. Since the internet service provider (ISP) has access to all the information associated with your IP address, such as where you are or what your name is (if your personal info is linked to it), it could allow someone to get access to that information and everything else connected to it.

IP addresses are a basic necessity, so we can’t get rid of them. So how do we prevent our information from being collected or seen? Verge uses two methods: TOR and I2P.

TOR, or The Onion Router, is a network of relay computers through which user information is passed, garbled, and disguised, so that by the time that user has sent information to another person or service, their IP address is completely different from their actual one, making it almost impossible to figure out their “real” identity. TOR is standard within Verge, letting users connect to the blockchain anonymously.

I2P is a way to divide the connections between two computers. Usually there’s one connection through which you send and receive information from another computer. With I2P, however, there are different channels for sending and receiving, so that even if someone managed to listen in on you, they would only get half the information.

The Wraith Protocol

This is what allows users to make a decision between the kind of transaction they want to make: private or public. There are advantages and disadvantages to both. Private transactions can’t be reviewed, but take longer, while public transactions are visible but are speedier.

Verge’s “private” transactions are run through TOR and use stealth addresses – user addresses that can only be used once, and thus can’t be tracked – similar to Monero, another privacy-focused blockchain platform.

The Wallets for Verge

Verge uses Electrum, a wallet first meant for Bitcoin and which can work with TOR and I2P protocols. It also has offline use: sign for a transaction while offline, then send the transaction out later from an online computer – a feature man will find convenient and assures their privacy.

The Electrum wallet also comes with features like multiple signatures and passphrases for recovering keys, making it even safer to use.

In addition to Electrum, Verge will support a TOR Android wallet and an I2P Android wallet, both of which will use pincodes. Other currencies that work with a variety of different wallets can be seen here at our list of 2024’s best altcoins.

Verge Mining

Unlike most blockchain platforms, Verge will allow not just one, or even two ways to mine, but an amazing five ways to mine XVG. They differ in what they require – some need dedicated ASIC setups to work, while others only require your GPU. Including five different algorithms allows a broader array of users to mine, since they don’t all have the same requirements.
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There’s a cap of 16.5 billion XVG in total, with an average of 1 billion to be mined each year.

The XVG Coin

Unlike most cryptocurrencies, the Verge coin, or XVG, had no offering. It started out as something to be bought, something even the developers did themselves. During the years it’s been out it’s climbed to the top 30 in the crypto market cap. You can get it on some of the bigger exchanges out there, such as Bittrex and Binance.

The availability of XVG on popular exchanges has definitely helped it maintain a high position in an increasingly-crowded crypto market, and should continue to help it flourish.

The Future of Verge

The Verge team has already developed quite a few features and protocols for Verge, making it one of the more secure platforms out there. However, they’re not content to stop there. There are other features in the works, ones that could potentially boost the value of XVG as they’re unveiled.

The first new feature is the atomic swap, which is a method of exchange between two currencies that doesn’t require a third party to facilitate the transaction. With this method, “locks” (including hash locks and time locks) prevent assets from transferring until both parties successfully send each other certain confirmation codes, so that both have access the assets each promised the other at the exact same time. This prevents people from running away with another user’s coins without sending them the appropriate currency in exchange.

On a similar note, smart contracts are another new development for Verge. The addition will be in the form of a sidechain whose function it is to process them. Verge isn’t the only one improving on smart contract technology – check out our list of the best 2024 altcoins for more.

Verge vs Monero

Both of these platforms (and currencies) are focused on privacy and anonymity. Both have coins that can be mined, but Verge has five methods that can be used, while Monero only has one. Monero is set up so that ASICs aren’t more effective at mining as regular GPUs, while Verge doesn’t seem to have anything against ASICs in general. Monero’s anonymizing features seem to be mostly focused around ring signatures, while Verge goes further and uses I2P and TOR to make user’s IP addresses anonymous and untraceable. Both use stealth addresses, though, in their efforts to keep user information private.

Verge vs Ripple

These platforms have very little in common. Verge is an anonymity-based, mainly P2P exchange system, while Ripple is a platform and an exchange that’s meant for adoption by the finance industry as an alternative way to record transactions. Both have their own currency, but Ripple is meant not only as a way to purchase things of value, but as a liquidity asset so that other assets can be traded quickly using it as a go-between. While Verge is in the top 30 in overall market cap, Ripple is in the top 3.

Verge vs Tron

These are two very different platforms. Both use blockchain technology and each have their own currency, but the focus of each is different. Verge is meant mostly as a platform for anonymous asset and information exchange, while Tron is meant as a larger platform that encompasses a social network, content creation and rights ownership, and sharing entertainment and content. Both of them trade rather low, around $0.04 and $0.05 per coin. Verge is focused on anonymity and privacy, while it doesn’t look like Tron has the same sort of focus – although privacy is likely a highly-prized feature of it.

Frequently Asked Questions

1. Is Verge a cryptocurrency?
   Yes, in that you can use its token as a method of payment.
2. Where can I read news about Verge?
   On Reddit, crypto blogs, and on Twitter.
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3. What’s the price of the Verge coin?
   Last we checked, it was around $0.05.
4. Is there a place for Verge coin on Reddit?
   Yes, there’s a community of people discussing it there.
5. What’s the prediction for the Verge coin price?
   The price will change with new developments, releases, and adoption by others.
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   It could go up if the smart contract technology they’re working on ends up working with their anonymity protocols.
6. What is the Verge Wraith Protocol?
   It’s the protocol that allows users to choose whether a transaction should be public or private, with the private ones being anonymized via stealth addresses and TOR routing.
7. Is there a Verge coin app?
   There is a Verge wallet for Android which you can use to send and receive XVG.
8. How do I buy Verge coin?
   You can buy it on Binance and Bittrex.
9. Where can I read a review of the Verge coin?
   Crypto blogs are a good place to look, same goes for Medium.
10. How does Verge do vs Monero?
    Check out the section above where we look at the comparisons and contrasts between the two.
11. Is there a Verge crypto app?
    If you mean a mining app, there doesn’t appear to be one at the moment.
12. Can I buy XVG?
    Yes, using Bitcoin or Ethereum on Binance or Bittrex. It’s not clear if you can use fiat at the moment.

Conclusion

Verge offers something which many blockchain platforms don’t – complete anonymity, even as you send and receive information and tokens. While not everyone is as concerned about this (whether they should be or not is a question for another time), those who value privacy will see a lot of good in Verge’s approach, which exceeds most other platforms we’ve seen (even those that count privacy as one of their focuses). It’s in the top 30, which means it’s beaten out lots of other coins, but if they want to be the future of crypto then the platform will have to get wider use. That means getting themselves in the public eye, releasing sought-after features, and (most importantly) showing that it’s convenient and useful. But with how far the platform has come already, all these things are definitely possible.

If you think Verge is impressive, you owe it to yourself to check out our new list of the best altcoins of 2024.