Verge is a digital currency that is designed for everyone to use. It aims to be an alternative of digital currency to bitcoin as bitcoin faces many issues such as high transaction fees, low transaction throughput and slow processing time. Verge provides a fast, efficient and decentralised way of making transactions between businesses and individuals. Verge can handle around 100 transactions per second with confirmation time of around 5 to 10 seconds. Individuals and businesses can integrate XYG into their payment system by using Coinpayments or Verge API that can be found on GitHub. Verge is an open-source project and therefore everyone can contribute. Verge uses Proof of Work consensus mechanism similar to Bitcoin and Ethereum. However, Verge supports five different hashing algorithms: Scrypt, X17, Lyra2rev2, myr-groestl and blake2s, therefore allowing different types of mining devices to have equal access to earn coins.
XVG is the payment token in Verge. It acts similarly to BTC, as a mean of payment that is decentralised and secure. There is a maximum of 16.5 billion XVG in circulation with a transaction fees of 0.1 XVG.