Most of the most valuable cryptocurrency options on the market are still in the red today, and Verge (XVG) is no exception. At the time of writing, this coin is trading at $0.154. That’s a 5.6% drop from its price a day ago. Looking back a week, its price has plummeted 16.2% lower.
But Verge (XVG), in our opinion, is on an upward trajectory that isn’t showing signs of letting up anytime soon. In the past month, its price has gained a whopping 1,564%! The past week seems more like a hiccup than a nosedive from that perspective.
This crypto coin’s growth story has been strong, it’s true – but this financial product’s technology is only going to drive its price even higher. Especially in the first 11 days of January, a lot of stuff has been happening with this altcoin and the blockchain technology behind it.
Verge (XVG) Is A Cryptocurrency That’s Embracing Anonymity in a New Way
This coin is one of the rising altcoins that have taken anonymity to the next level. The original idea behind Bitcoin (BTC), the original cryptocurrency, was to have a decentralized way to transfer funds anonymously over the internet with no government regulation involved. But, as many cryptocurrency traders have found out by now, the original promise of BTC hasn’t quite been fulfilled.
Bitcoin transactions are slow, expensive – and not totally anonymous. These days, it’s not so hard to find out which bitcoin wallet address belongs to which user. There are organizations all over the world tracking and analyzing the decentralized ledger’s data. True privacy and anonymity simply can’t be guaranteed with Bitcoin’s technology.
That’s where altcoins like XVG come into the picture. Verge has developed a system that makes its transactions untraceable. By using both Tor and I2P, transaction data bounces around from server to server all over the world. With little pieces of information being dropped off and picked up along the way, it’s impossible to find out which address was the source or destination.
And Verge (XVG) Has (Finally) Launched Its Wraith Protocol Update Successfully
Since December, we have been waiting for a pretty impressive update in the XVG network. It’s called the Wraith Protocol. Whereas Verge previously had just a private, anonymous ledger where transactions were anonymous. Now, however, users have a choice. They can have their transfer be on a public ledger whenever they want.
It’s an on-demand option. When you are setting up a transaction, you can decide whether it will be anonymous or public each time. You don’t have to have it 100% either way – it’s much more flexible.
The launch was supposed to be on New Year’s Day, but there were some problems. The rollout ended up being delayed, and was released in pieces. But, as of yesterday, the Mac compatible wallet is now available with the on-or-off anonymity option. It was made available on Windows on January 8th.
— vergecurrency (@vergecurrency) January 11, 2018
It’s also the first cryptocurrency to ever offer such a thing. With so many competing altcoins that don’t have options with as much flexibility, this impressive new feature will certainly attract a lot of crypto investors to Verge.
The non-stop upward trajectory looks like it’s going to keep on chugging along.
Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.