Tag Archives: privacy

Is Verge the Stealth Underdog in the World of Anonymous Cryptocurrencies?

 

 

What is Verge?

In this write-up, we return to privacy-based cryptocurrencies. Today’s chosen cryptocurrency is Verge (XVG). Originally named Dogecoindark after splitting from the Dogecoin blockchain in 2014, Dogecoindark rebranded to what we now know as Verge in early 2016.

Its primary function is to serve as an anonymous cryptocurrency for darknet and mainstream usage, while being able to conduct fast and secure transactions peer-to-peer.

The Competitive Edge: Wraith Protocol, Atomic Swaps, and Privacy

Verge has integrated its wallets with the Tor network, making the cryptocurrency immune to any form of surveillance or overseeing.

Tor (the Onion router) is a network that enables an anonymous exchange of information across a multi-layered network.

The Tor network sends its Internet traffic through a network of over 7,000 relays to conceal a user’s information and location with anonymized data packets and encrypted address information.

Users can also choose to use the I2P network, which has many similarities to Tor.

Is Verge the Stealth Underdog in the World of Anonymous Cryptocurrencies? Is Verge the Stealth Underdog in the World of Anonymous Cryptocurrencies?

Source: https://vergecurrency.com/assets/Verge-Anonymity-Centric-CryptoCurrency.pdf

Verge is also a multi-PoW algorithm cryptocurrency, making it fully mineable with a range of different mining equipment. This enables the network to benefit from more hashing power, which  creates a greater level of security for the Verge blockchain and its users overall.

Its block time is 30 seconds, compared to Bitcoin’s 10 minutes. This makes Verge much faster to use, with the added privacy options of stealth transactions, Tor, and I2P as well.

Another competitive feature on the Verge network is atomic swapping. This allows for the direct transfer of cryptocurrencies from one blockchain to another, such as Bitcoin to Litecoin or Vertcoin to Verge.

The Wraith protocol enables full privacy of transactions and any address information of the sender and receiver. This new feature is capable of being used via the Tor, I2P, or standard Internet networks.

Competitors to Verge in the Privacy Niche

Privacy is popular in the cryptocurrency space. With regulations and the U.S. Government declaring ALL cryptocurrency transactions taxable, 2018 could truly be the year of privacy-based coins.

Verge faces heavy opposition to become the leading privacy-based coin, but competition in a free market usually breeds innovative and advanced products, solutions, and services. Here are some of the top competitors Verge could steal the privacy dominance from:

Monero – Using the ring signature, it was a popular cryptocurrency on Alpha Bay before it closed.

Dash – While Dash has somewhat left the privacy niche, it still has the PrivateSend feature, which mixes addresses.

Zcash – Utilizing the Zero Coin protocol and ZK-Snarks, this protocol enables transactions to remain encrypted but still be valid on the network.

Zcoin – This is the precursor to Zcash, which also uses the Zero Coin protocol.

There are many more, but Verge has a strong community, and with the Wraith protocol in development, combined with the coming atomic swaps that allow cross-chain transactions, this could be the most exciting year for Verge yet.

Price Performance

Another big performer, Verge started 2017 at a fraction of a cent and had an all-time high in late December 2017 of $0.24. Despite its pullback, it has remained strong during the January 2018 correction.

Is Verge the Stealth Underdog in the World of Anonymous Cryptocurrencies?

Where to Buy

Binance

Bittrex

Cryptopia

Where to Store Privately

Official Verge Wallet Downloads

 

Disclaimer:

This is not investment advice. Please only invest what you are willing to lose, and conduct sound research. Always read the white paper.

Komodo – How Does It Function and What Does It Do

Komodo – How Does It Function and What Does It Do

What Is Komodo, A Hybrid Of Bitcoin And Zcash?

Komodo utilizes the innovation of Zcash and the power of Bitcoin, this privacy based cryptocurrency uses zk-SNARKS, which works by encrypting the transaction data.

The Komodo protocol also uses the Bitcoin Blockchain using the delayed proof of work algorithm (dPOW) to process transactions giving Komodo the same level of security as Bitcoin itself.

While using similar privacy features to Zcash, Komodo’s dPOW works by using the regular POW algorithm but with an added mechanism, which notifies the Bitcoin Blockchain of any transactions on the Komodo network.

Information from the Komodo network is sent to the Bitcoin network by using pre voted nodes, which then insert transactional information into the Bitcoin network, this adds additional security to the network making it harder for ‘bad actors’ to hack the network or compromise it.

Privacy In A World Of Regulations

With regulations increasing in the cryptocurrency space, this could be an opportunity for privacy-based coins to increase in popularity.

Exchanges are the primary target for authorities to enforce a handover of investor’s transactional history, while Bitcoin’s Blockchain displays the transactional history for every user on its network other cryptocurrencies such as Komodo, Zcash and Monero anonymize the information, making it impossible to trace to another wallet address, as long as no third party exchange is involved.

Price Performance

What an amazing 2017 for Komodo holders, the price at the moment of writing trades at $9.79, and unlike many other alternative cryptocurrencies it is performing well against BOTH fiat and in Bitcoin.

As stated above, with the innovative edge of Zcash and the herculean network power of Bitcoin, combined with regulations and the market needing alternative solutions to remain private, 2018 could prove to be another fantastic year for the Komodo.

Many cryptocurrencies only perform well against the dollar, with a select few managing to keep up with Bitcoin’s price rally (percentage wise).

Where To Buy Komodo

Where To Store Komodo Privately