Excitement in Verge community after full Wraith release

Janica San Juan 9 January 2018 NEWS

verge in text - shutterstock

The long-anticipated full Wraith 4.0.1 release by Verge is finally here.

It is currently available for 64-bit versions of Windows, while the Mac OSX and Linux versions will be released shortly. This is exciting news for the anxious Verge community after the missed deadline on New Year’s Eve.

The news is expected to send the Verge token, XVG, to a new all-time high. The coin enjoyed a major upsurge in the realms of 800% in December alone thanks to speculative hype surrounding the expected release.

Unexpected turn of events

However, after the release deadline passed there was a sudden dip and the token has been in murky waters since. Panic selling in the community sent the prices down to $0.18 from a high of around $0.25 and further down after a brief recovery.

Verge was created in 2014 under the name DogeCoin and rebranded its new name in 2017. The most prominent highlight of the network is the anonymity of transactions that appeals to privacy-oriented individuals.

What makes its high privacy feature possible is the fact that its blockchain framework operates on I2P and Tor services. Both of which encrypt users’ personal information.

Another highlight of the network is its full open-source nature. This allows all developers in its community to participate fully in the decision-making process about changes in the system. It is also one of the fastest networks which makes use of the Simple Payment Verification technology to reduce confirmation time to about 5 seconds.

What the new release means for Verge users

The newly released Wraith Protocol adds yet another convenient feature to the network. The blockchain ledger has up until now necessitated users to choose between public and private options as the two could not coexist on the same chain.

But now, the Verge blockchain will allow users the choice between public and private ledgers all within its network. When a user has to carry out a transaction requiring transparency, they can switch Wraith protocol off and have it broadcast on the public ledger. But for private transactions, they can turn it on and have the data hidden.

For both types of transactions, TOR still obfuscates the IP address of the user making transactions totally untraceable. This is great news for investors in the Verge community but only time will tell the long-term implications of the move.

Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade. Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

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