The Verge “Wraith Protocol”
The rise of the Verge cryptocurrency had a very negative side effect but the coin is not dead, after the next ATH and on its path to the top10 cryptocurrencies we have seen a shameful “Fake News” attack but Verge hopefully seems to slowly recover even with a bad taste. Meanwhile other cryptocurrencies seem to rise such as Sumokoin which looks very promissing as the need of privacy coins increases. You might have heard about the upcoming “Wraith Protocol” which should be released in the next couple of days. After I have published the “The rise of Verge” I received many messages from all over the world thanking me for the article and that they made very good profits. Please remember as I stated already, I do not provide any financial advice. All you read on Crypthor reflects my personal oppinion.
However, several people asked me to publish anything quick and dirty about the “Wraith Protocol” so here we go.
What is the Wraith Protocol?
The Wraith Protocol allows its users to switch pretty easy between public and private ledgers when they are on the Verge Blockchain. In other words you can simply turn on the Wrath Protocol in order to hide your transactions, so it becomes hidden from the blockchain explorer.
On the other side, let us assume you have to do a transaction where transparency is a required part of the game, you can turn off the The Wraith Protocol, which makes your transaction visible to the public ledger.
Privacy is one of Verges great capabilities as the coin provides total anonymity of IP addresses, which is related to the advanced version of TOR integrated in Verges Core Wallet. The combination of Verges features including the Wraith Protocol makes the coin a real untraceable and anonymous cryptocurrency.
Let us keep things as simple as possible: As soon as a user initiates a Verge transaction with the Core Wallet and the “privacy button” (I don’t know if they call it privacy button or stealth mode, whatever) is set to “ON” the private ledger jumps in. In case you set the button to “OFF”, the public ledger is leveraged.
A great piece of technology is coming down the road
The Wraith Protocol is capable to to provide the flexibility and security you would expect from any other privacy coin, which is not the case at the moment. Verge provides smart contract functionalities, low fees, very fast transactions and is perfect for the daily use.
“Bitcoin is great, but if It’s not private, it’s not safe” Edward snowden
Verge itself is a promising project and just a matter of time until we see potential partners jumping in and new great opportunities coming down the road if the team behind Verge got their lesson from the past several weeks.