No Products in the Cart
In light of all the buzz around Verge Currency in the last couple of weeks, I thought it would be a good idea to briefly go through what Wraith Protocol is and how it works. If you already know, stick around for a refresher course.
For the newcomers in the crypto space, let's take a second to understand what a Blockchain and Ledger are. A Blockchain is a continuously growing list of records, called blocks, which are linked and secured using cryptography. By design, a Blockchain is inherently resistant to modification of data. It is an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way. What's a distributed ledger you ask? In layman's terms, it's essentially a database where all your transactions are recorded. In the case of BTC, the ledger is public, meaning that all transactions can be openly seen and linked to your public address through the blockchain explorer. Alternatively, ledgers can also be private, whereby transaction data is hidden and cannot be viewed. Up until earlier this year, public and private ledgers were exclusive, meaning you had to choose a specific cryptocurrency in order to achieve the privacy or transparency desired. This is where Wraith Protocol and XVG comes in.
Wraith Protocol is a technology that allows you, the user, to switch between a public and a private ledger on the Verge Blockchain. In a situation where you prefer a more transparent transaction, simply turn WP OFF. And of course, turn WP ON when you would rather utilize a private transaction, hiding your data. In addition, Verge provides total obfuscation of IP addresses in both cases, thanks to the most advanced version of TOR. This makes XVG the truest form of an untraceable coin. Check out the illustration below to better understand how it works:
Sifting through all of the FUD and nonsense that has been hanging over the head of this coin, it has proven to be the real deal, especially with Justin and the rest of team keeping the community informed regularly, whether it be via Twitter, Telegram or Discord. With the upcoming partnership to be announced on the 17th of April, we can only assume that XVG does in fact present itself as a coin that can have a real-world use and may very well be the best-case option for payments and/or purchases in the coming years. Keep your eyes on XVG.
Follow me on Twitter @EgressVoidLight