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Verge - Analysis & Research report - CoinCheckup.com
Algo. score rating 4.1/5 (#40) 100% Open channels 86% Team Strength 98% Product Strength 90% GitHub Activity 77% Coin strength 100% Brand awareness See attached PDF Analysis & Research report for more details.
Verge Rating Report
Verge is a payment cryptocurrency based on scrypt and x17 algorithms. It was developed upon Bitcoin’s infrastructure, and its ledger focuses on user’s privacy protection. However, the project was hacked recently, and a large amount of tokens was stolen by the hackers. Also, its mining pools were attacked by DDoS. Verge project has certain flaws in algorithms, security, and defence mechanism.
Verge: The Privacy Coin using Tor and I2P
Verge is another cryptocurrency that is trying to make its transactions completely private and anonymous. Verge makes its anonymity possible by building its blockchain on top of Tor and I2P services which serve to hide user’s personal data, such as their IP address and geolocation. Verge was originally launched as "Dogecoindark", a fork of PeerCoin. Verge is unique amoung privacy coins that they have a public ledger which lets people observe the network statistics while keeping the transaction Meta data private. They are also one of the few coins that use a combination of different PoW mining algorithms for blockchain consensus. Verge has faced difficulties including allegations of illicit pumps as well as having suffered a mining exploit. This attack was as a result of the unique consensus protocol. There have been some interesting partnerships with the likes of MindGeek being the most prominent. Verge tokens are quite volatile given the technological concerns. However, they do appear to have a relatively strong volume and reasonable volume to market cap ratio.