After Bitcoin has achieved a handful of technical problems due to its lack of scalability, the pool of investors has moved to projects with a lot of promise, and solutions that help and support to effectively scale up in the short term.
Such is the case of Verge (XVG), the Open Source alternative as a short-term purchase and sale platform.
Our mission is to empower people around the world by bringing blockchain transactions into everyday life. Verge currency makes it possible to engage in direct transactions quickly, efficiently and privately. With Verge currency, businesses and individuals have flexible options for sending and receiving payments. With the flip of a switch, we offer helpful integrations and tools that enable them to handle large scale transactions between merchants and small scale private payments.
Verge Currency is a cryptocurrency designed for everyday use. It improves upon the original Bitcoin blockchain and aims to fulfill its initial purpose of providing individuals and businesses with a fast, efficient and decentralized way of making direct transactions while maintaining personal privacy. https://vergecurrency.com/
What is the Wraith Protocol of The Verge XVG Cryptocurrency?
Wraith Protocol is a technology that allows the user to seamlessly switch between public and private books in Verge Blockchain. For the first time, users can now choose which accounting book they want to use.
To break it down, when Wraith Protocol is enabled (ON), the transaction data is hidden and not visible through the blockchain browser.
In a circumstance where transparency is required, Wraith Protocol will be deactivated, allowing the transaction data to be viewed in the public ledger.
In addition, Verge provides total obfuscation of IP addresses in both cases, thanks to the more advanced version of TOR integrated in Core Wallet. In combination with Wraith Protocol, Verge is the only cryptocurrency that is truly impossible to track. How does the Wraith Protocol work in practice? Like all the great things in life, it’s simple. When the user initiates a transaction with Core Wallet, the change button is set to “ON” and the private book is used. Set it to OFF and the public ledger is active. The process is illustrated below:
What does it mean for Verge’s future?
When transparency is essential, a public book offers the solution. These cases include merchants, who charge customers for daily purchases, who prefer to have an observable ledger for accounting purposes, etc. What is the Wraith Protocol of The Verge XVG Cryptocurrency?
On the other hand, a private book also has its purpose. First, privacy is a basic human right and has intrinsic value in itself. Second, a private book can be used for commercial purposes, such as conducting business transactions and handling confidential information. Think of the owner of a company that wants its competition not seen by the competition to stay ahead. Another instance would be an NGO that operates in a hostile political environment and receives financial support in a confidential manner.
Ultimately, Wraith Protocol offers the end user options, flexibility and unparalleled security. Verge’s high volume, low rates, ultra-fast transaction speeds and smart contract functionality have created the perfect recipe for overall adoption, while prioritizing your privacy. As Edward Snowden once said.
Cryptocurrency Adviser and Virtual Investments