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- Started in 2014
- Mainnet release:
- Based in:
- Anonymous dogecoin.
- It 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.
- Fun fact: it had a ‘black paper’ instead of a white paper.
- Code can be viewed [insert here].
- Programming language used:
How it works
- From this article (30-9-2020):
"This privacy coin protects the privacy of users differently by using The Onion Router (TOR) technology and the Invisible Internet Project (I2P), which renders it fit for daily use. Its open-source volunteer-driven protocol allows for fast, efficient, and decentralized transactions directly without losing privacy. TOR facilitates communications via a volunteer-run public network, while the I2P protects the data by encrypting it first before being sent through the global distributed network. All user addresses are hidden and renders all transactions completely untraceable."
"The cryptocurrency verge (XVG) is a multi-algorithm enabled proof-of-work-based token, according to the project’s “black paper.” The multi-algorithm allows people to mine XVG with a variety of devices the paper adds."
Privacy Method being used
"Verge (XVG) is open source and claims to be privacy-centric by leveraging Tor and stealth transactions. However, XVG had also been accused of leaking IP addresses associated with hundreds of XVG transactions."
Oracle Method being used
Their Other Projects
- Can be found [Insert link here].
- Bug bounty program can be found [insert here].
- A miner manipulated two of verge’s five hashing algorithms to maliciously mine more than 35 million XVG in just a few hours. It was repeatedly attacked and as Nic Carter pointed out: "This is an absolute must read. 5 algos in one took the 51% attack threshold down to 10%, and scrypt ASICs took it down to 0.4%. Post-mortem of the Verge attacks: over two hyperinflation events, 75,410,000 XVG were generated (how come I see that on a "private" blockchain?), worth about $3.5m at current prices. That's 5.3% of all the XVG minted in the last 12 months."
- Vergecurrency's X17 mining algorithm is being exploited since 6-2019.
- From Bitcoin.com (17-2-2021):
"Verge has suffered a 51% attack that led to a massive 560,000+ block reorganization. Analysts believe the Verge network attack could be the deepest blockchain reorganization (reorg) in history with roughly 200 days worth of verge transactions wiped. Verge has suffered from a total of three 51% attacks. One back in April 2018, and then another 51% attack a month later, when a malicious XVG attacker rejected a number of blocks.
Projects that use or built on it
Pros and Cons
Team, Funding, Partnerships, etc.
- Full team can be found [here].