Verge (XVG) Price – Current Live Value

Verge (XVG)

Verge (XVG) was originally launched in 2014 as DogeCoinDark, an anonymous alternative cryptocurrency. In 2016 it was rebranded as Verge to counter negative associations with its use as a tool for money laundering and illegal transactions. While it operates as a standard digital currency on a public blockchain, the content of its transactions and the IP addresses of users are muddled using standard security software. The value of Verge was largely flat well into the 2018 cryptocurrency boom, when it went through a sudden and belated price spike. It has since declined in price down to near pre-2018 levels, leaving it just outside the top 50 cryptocurrencies by market cap.

Verge is popular due to its anonymity features, fast processing times and low transaction fees. It was intended as an alternative digital form of cash, and its blockchain design supports this intent. However, this has left it vulnerable to 51% attacks by crypto miners, of which it suffered 2 in 2018.

Some critics have argued that Verge is not truly anonymous, as it is possible to breach the layers of obfuscation that cover transactions and IP addresses. However, supporters say that the anonymity features are adequate for defending against all but the most dedicated attempts to track transactions.