Verge: This Privacy Coin is Here to Stay

Verge is a privacy coin. It's an open source coin whose repository can be found on github. The blockchain is designed using a newly designed Wraith Protocol. This allows Verge more flexibility as people can choose to use the token how they want. People can use the token privately and remove their transactions from the blockchain. Or, they can use it openly and have their transactions recorded.

Verge says it has solved the 51% problem by allowing the coin to be mined using 5 different proof of work algorithms. This should give the network enough variability to limit a few people from becoming too powerful and/or abusing the network. No whales.

Verge also utilizes stealth addresses. They are generated with the Elliptic-curve Diffie-Hellman algorithm. The elliptic curve is special because of the math involved. Even though someone may have access to one location on the curve, (at this moment) it's impossible to figure out where it originated from due to how multiplication occurs on the curve. I say “at this moment” because no one has been able to figure out how to work backwards on the curve.

Verge is built to take advantage of the Electrum wallet. This allows them to integrate the Verge wallet into the Tor and I2P networks. Electrum also adds an extra layer of privacy. Currently Verge is able to process 100 transactions per second. They plan to institute Rootstock Smart Contracts which should increase transactions to 400/sec.

So far in their roadmap, they have managed to implement atomic swapping, their private messaging system (VISP) and Bloom Filters. The plan to finish up Tor integration, mobile transactions, making stealth addresses optional and mining updates by Q4 2017. However, it's currently Dec 16th. There are about 2 weeks left in Q4 and they have yet to finish these goals.