The next cryptocurrency boom could be about to take place as many analysts predict “VERGE” as the latest coin to see growth climb at a similar rate to Ripple. VERGE is a fast-rising cryptocurrency which aims to make transactions completely anonymous. It is a decentralized currency designed for users who value privacy and improves upon the original Bitcoin blockchain by using multiple anonymity-centric networks such as Tor and i2p. It utilizes multi-algorithm mining support to improve security and provide equal distribution of coins to miners.
Created in 2014, VERGE was once known as DogeCoinDark before being rebranded as VERGE (XVG)
The continued advancement of blockchain technology is and will continue to be the foundation of cryptocurrency and will be what separates the coin that will become household names from the ones that never gain traction. VERGE currency is virtually untraceable and the users of VERGE can make instant anonymous transactions.
It is believed that the value of the currency may soon reach higher than its resistance line and then see growth boom.Once a currency breaks above the resistance line it means that the lack of supply will see the price soar.
One aspect of VERGE that sets it apart from other cryptocurrencies is that it is a 100 percent open source project, with all members of the community able to give full input into any decisions made about future changes.
It’s also meant to be very fast, and by using ‘Simple Payment Verification’ (SPV) technology confirmation times are kept to around five seconds on average.
VERGE’s blockchain technology also offers quick transaction settlement times. For context, slower transaction processing times is probably the biggest complaint of bitcoin’s blockchain. The use of Simple Payment Verification technology allows most transactions processed through VERGE’s blockchain to be completed in around five seconds. This speed of transaction tech is the fundamental appeal of blockchain and one of the driving forces behind new development. VERGE’s blockchain incorporates some of the components that have made bitcoin’s blockchain successful, but it makes changes that beef up privacy and anonymity, as well as capacity and transaction settlement times.
In addition, VERGE has created a true community feel (at least in the internet sense of the word) since it’s not a private company. The members of its community are responsible for the direction its technology and coin heads next. To be sure, VERGE is pushing for greater adoption of its token. It’s currently offering a number of secure mobile wallets, including the Tor Android Wallet, which offers mobile anonymity, says VERGE.
For what it’s worth, high profile tech personality John McAfee, yes THAT McAfee from the antivirus software world in the 1980’s and 1990’s has touted VERGE and others that emphasize anonymity. McAfee and others believe that coins that emphasize privacy offer more potential than the more popular and well know bitcoin. His comments also helped drive VERGE’s value up.