Verge (XVG) price has seen a 33% pump in the 24 hours following Paypal’s move to pull the plug on the adult entertainment website Pornhub.
Verge is an open-source cryptocurrency launch in 2014 by a team signed only by their nicknames. Initially, the name of cryptocurrency was DogeCoinDark, but it was changed in 2016 to avoid the ‘dark’ connotation. Verge offers anonymous transactions, tangling the IP address and geolocation of its users using Tor and I2P technologies. The main goal of the project is to provide individuals and businesses with fast, efficient, and decentralized transactions while maintaining their confidentiality. The platform works on the Wraith protocol, which stands for technology that allows the user to switch between public and private accounts in the blockchain. Verge uses a mixed algorithm which includes proof of work and 5 different hash functions: Lyra2rev2, myr-groestl, Scrypt, X17, and blake2s.