In-depth Look at Verge Cryptocurrency & Platform
Verge cryptocurrency is a privacy-focused cryptocurrency that aims to keep transactions anonymous and untraceable while allowing for high throughput and fast confirmation times. The project is entirely open source and community led. There is no company or foundation behind Verge. In fact, the core team signed Verge’s black paper with only their usernames. The community is committed to privacy, anonymity, and decentralization.
The coin originally began as DogeCoinDark in 2014. In February 2016, wanting to distance themselves from both the Doge meme and the “dark” connotation, DogeCoinDark rebranded to Verge. Over the past two years, the project has set a trajectory toward legitimacy for mass market adoption. Verge cryptocurrency is entering the crowded the race to be the top privacy coin. In this article, we’ll take a look at what privacy measures Verge implements. We’ll also do a deep dive on the technology behind Verge and whether this is a project with potential to rise to the top.
Making User Connections AnonymousVerge attacks the issue of privacy from the vantage of how a user connects to the network. The internet we all recognize is fairly straightforward. To send information between computers, you use an Internet Service Provider (ISP) or other middleman to facilitate the message. When you send a message, your ISP can see your unique identifier on the internet – your IP address. Your ISP also needs to know the IP address of the destination computer, so it can route the message. This is okay for normal internet traffic, but it’s not anonymous. Over time, an ISP learns a lot about the IP addresses you’re contacting. They also know where you’re sending messages from. In many cases, signing up with your ISP associates your identity with your IP address, causing multiple anonymity and privacy issues. Verge uses two approaches – Tor and I2P – to address connection anonymization.
Enter TorTor is a well-known anonymization scheme for IP addresses. The name is an acronym that stands for The Onion Router, because the Tor network wraps your message in multiple layers of encryption. Instead of routing your internet connection through one ISP, Tor bounces the connection between many relay computers on the Tor peer-to-peer network.
This changes the message’s IP address many times, making it difficult to trace back to the original sender. With TOR, no one node knows the whole route a message will take. The message quickly becomes anonymous and untraceable. A directory service identifies the path for connections. Tor is a peer-to-peer network. As you use Tor, you’re also acting as a relay node for other messages getting bounced around the Tor network. Verge cryptocurrency implements Tor as standard for its transactions to anonymize user connections to the blockchain. Making interactions more difficult to link to an IP address.
I2PThe next generation solution to connection anonymization is I2P. While Tor provides directory-based circuit routing, I2P allows for dynamic routing of information packets. There’s no directory on I2P, so the responsive routing of the network can avoid congestion and interruptions.
I2P also divides the routing into two separate tunnels, one outgoing and another incoming. That means that the messages you send to another computer or website follow a different path from the messages you receive in response. Anyone listening in would only see half of the message history, like listening in on only half of a phone call where you don’t know who is speaking or who they’re speaking to. Tor was intended as a portal for anonymously accessing the ordinary internet. I2P provides a much more robust experience, leading to the creation of a private network within the internet. I2P is a true darknet, with applications written specifically for I2P. Verge leverages I2P technology for its network as well. You have the option to route your transactions through Tor or I2P but IP anonymization is standard on Verge. Since the entire Verge blockchain is anonymous, the entire community becomes much more difficult to track.