Verge XVG – The ultimate guide [2022]

What is Verge Currency?

Verge Currency is a community-based cryptocurrency, built on the foundation of Bitcoin. Following the principles laid out in the Bitcoin Whitepaper by Satoshi Nakamoto, Verge is a layer 1 cryptocurrency that offers near-instantaneous settlement of transactions providing greater user privacy than Bitcoin.

To maintain the importance of public ledger while keeping user security, Verge has built its own Tor Network being hosted by each Verge Wallet. Meaning the more people use active Verge wallets, the more user data is protected, while maintaining a public ledger.Welcome to data security on a public blockchain.

How does XVG work?

Rebased as a 2018 Fork of Bitcoin, with faster block times (every 30 seconds), Verge functions as a currency.It has 5 different mining algorithms, to allow for different forms of mining. These are the following: Scrypt, Myriad-Groestl, Lyra2rev2, Blake2s, X-17.

Verge stats

• 16.5 billion coins,
• 0.1xvg per transaction
• Founded in 2016

History of Verge Currency

Verge was founded by a group of early cryptocurrency miners, most notably Justin Vendetta and Cryptorekt, based on a fork of Peercoin and Novacoin. At that time the project was named DogeCoin Dark, to pay homage to the fun community of doge, while offering greater privacy than Doge. There was no pre-mine, no ICO, it was built entirely by the community, and it has to this day, remained managed by the community. In 2016 the community rebranded to Verge Currency (from DogeD to XVG) to distance itself from the negative connotation of the dark web, and to signal a more serious use, as a currency.

Principles of Verge Currency

Verge is a Proof-of-work blockchain, it’s meant to be a 1st layer companion to Bitcoin. Instead of using more centralized methods of payment like the Lightning network, Verge is atomic swap-ready with Bitcoin, allowing for layer 1 ledger transactions, without compromise.

Where users have used Tor to protect their location with Bitcoin, Verge has Tor built-in with easy-to-use ON/OFF features making it more difficult to compromise than the existing Tor infrastructure.

As a community-based open-source, open-access project, we encourage everyone from every project to use XVG. As a form of currency, Verge can easily be integrated as a payment solution for online shopping platforms, brick & mortar stores as well as DEX and CEX exchanges.

Verge was the first digital currency to be accepted by the adult entertainment company MindGeek and is the only cryptocurrency used to pay models within its different companies. Since then, Verge currency has partnered with many vendors, payment solutions, and charities. For example, the Manny Pacquiao Foundation.

Verge Currency also partnered with Voice Life, a company offering wireless energy charging for mobile devices, where its blockchain will be used to connect the devices to charging devices.

Security & Resilience

Each Verge wallet hosts its own Tor Node, allowing users to protect their location while using XVG. XVG can also be used around the world as a currency.

Even though Verge has been attacked in the past, the community responded and protected the chain. That is the true power of community. Showing that a strong chain has more resilience with the power of a community behind it.

Adaptability

As a fully decentralized project, Verge is open source. That means anyone can contribute to the project by making translations, writing code, or improving the graphic design. The core team exists to maintain the infrastructure and resolve any issues that come up.

As a currency, Verge can be used virtually everywhere be it DeFi or traditional retail space. Integrating Verge is as easy as integrating Bitcoin.

As our community members like to say: Hold Bitcoin, spend Verge.

Where to buy Verge?

There are many options to buy Verge. One of them would be Guarda, as a relieable wallet we also provide with an opportunity to purchase XVG directly in your wallet. You can use Visa, Mastercard or a SEPA transfer.

Where to store Verge?

Obviously Guarda wallet is one of the fineset wallets out there for crypto management in general and for Verge (XVG) in particular.

Conclusion

The Verge network has stood the test of time and a million people from all over the world joined the VergeFam community. And we are proud to say that Verge is all about the power of community (read: family) supporting it.