what is verge xvg 
verge xvg is an open source decentralized cryptocurrency that claims to offer completely anonymous transactions by obfuscating the location and the internet protocol ip address of the transacting participants verge trades on leading cryptocurrency exchanges with the symbol xvg verge uses proof of work consensus that supports five different algorithms scrypt x17 lyra2rev2 myr groestl and blake2s this allows users to choose from different mining devices history of verge xvg verge was announced in 2014 under the name dogecoindark in the bitcointalk forum where many cryptocurrencies were announced in the past it was created by justin sunerok valo a software engineer and developer who felt there was not enough anonymity in the existing blockchains dogecoindark is rumored to be a fork of dogecoin but some in the community believe it to be a bitcoin fork in 2016 dogecoindark was rebranded to verge to prevent affiliation with dogecoin the verge xvg network apparently suffered a 51 attack in april 2018 with the attacker reportedly taking about 1 1 million in xvg another attack on the blockchain occurred in may 2018 resulting in the attacker taking about 800 000 in xvg 1 this was followed in february 2021 by a third attack on the network 2verge has a storied past but the team continues developing and growing its footprint in the blockchain and cryptocurrency space it is listed on several decentralized exchanges and in 2023 an erc 20 token xvgeth was released allowing users to swap xvg and xvgeth 3the total number of xvg is 16 55 million and about 16 51 million were in circulation as of june 27 2028 4concerns about vergeverge focuses on anonymity by obscuring users ip addresses an ip address is an identifying number associated with a connected device using an ip address it is possible to trace the user and the online activities they performed on the connected device obfuscating ip addresses makes transactions completely untraceable verge ensures anonymity through the use of multiple anonymity centric networks such as the onion router tor and invisible internet project i2p tor protects users identities by bouncing their communications over a distributed network of relays and tunnels this network is run by volunteers spread across the globe i2p encrypts user data and sends it through a volunteer run anonymous peer to peer globally distributed network 5while anyone can view the various transactions occurring on the verge public ledger the use of tor and i2p network layers hide the location as well as the ip addresses of the transacting participants because verge provides its users with this level of anonymity it is subject to emerging regulations for privacy coins in some jurisdictions centralized and regulated exchanges have removed privacy coins from their listings to avoid clashing with regulators making it more difficult for users in certain areas to access these coins or convert them to fiat currencies verge vs bitcoinboth verge and bitcoin are decentralized digital currencies however verge was created with a special emphasis on privacy as a virtual currency verge has a significantly smaller market capitalization than bitcoin 6while the supply of bitcoin is limited to 21 000 000 the total number of verge tokens is greater it is limited to a total supply of 16 555 000 000 both verge and bitcoin use a proof of work pow system to verify transactions on the blockchain but verge is altered to accept five different mining algorithms which is believed to have been how the blockchain was attacked in the past verge also has a halving schedule where the mining rewards are cut in half at specific intervals the bitcoin block reward halves every 210 000 blocks but verge uses a 500 000 block schedule 