Of the many different privacy-centric cryptographic blockchain project around the world today, TokenPay (TPAY) and Verge (XVG) stands as an imposing one. Various team of developers are seriously putting in their best to be the privacy focused coin of choice when it comes to making sensitive transactions, especially when Bitcoin has been dented with lack of privacy.
For users the around the world, privacy has become an increasingly important consideration irrespective of the cryptocurrency sophistication. This is because the ability to make secure and private transactions is one of the major allures that millions of cryptocurrency users covert.
Let’s Examine Verge (XVG)
Verge (XVG) is a cryptocurrency whose main focus is on anonymity and privacy when it comes to financial transactions. It has come a long way from its inception in 2014, when it originally launched with the name Dogecoin Dark. However, it changed its name to Verge in 2016. It is a decentralized open sourced altcoin whose aim is to provide private transactions for its users.
Verge, as an anonymous cryptocurrency which is focused on privacy is especially decentralized for clients, whose priority is anonymity. It supports five different hashing-algorithms to advance security and provide equal coin distribution to miners. The multi- algorithms include Scrypt, Lyra2rev2, X17, blake2s and Myr-groestl.
As a proof-of-work coin, Verge (XVG) achieves its privacy by using two different ledgers. A public ledger and a private ledger, all transactions made that occurs on the public ledger is visible for all to see but it is not so with the private ledger. By utilizing Tor alongside an anonymous network layer that conceal the locations and IP addresses of those making transactions, privacy is assured on the private ledger.
Taking a Look at TokenPay (TPAY)
TokenPay is a decentralized, open sourced and self- verifying payment platform with a dream of linking up modern-day financial institutions with the advantages inherent in the blockchain space.
Even though the technology as far back as 2010 was impressive and distinct, the business failed. The platform was functioning and transactions were occurring directly on the merchant’s website by means of a client-side API. Various compliance programs including the usual AML and KYC procedures were actively in place yet they were missing a vital element. Namely, the ability to get card processing as no bank as at then would agree to process for Tokenpay (TPAY).
Fast forward to today, this is no longer the case. By reason of the partnership between TokenSuisse AG, TokenPay Swiss AG and WEG Bank AG in Germany; Tokenpay’s goal of providing a secure and secret way for consumers to pay merchant through a credit card has been achieved. Now its customers can secure the same financial products obtainable in the traditional banking world like international wire transfers, crypto-fiat settlements and debit cards.
The Birth of the Verge (XVG) –TokenPay (TPAY) Alliance
Verge was in dire need of a huge amount to invest in advertisement in order to seal a partnership deal with PornHub as well as other deals that would help facilitate a better ecosystem and TokenPay (TPAY) stepped in. TokenPay massively donated to this course of Verge (XVG) and it resulted in the much acclaimed partnership of Verge and TokenPay.
Verge partnership with TokenPay (TPAY) occurred in mid-April when TokenPay made a contribution of 66,500,000XVG to the Verge (XVG) crowdfunding campaign. According to TokenPay’s announcement in their official blog, the essence of the contribution was to secure a major deal for the altcoin and solidify a strong partnership that will eventually benefit both the XVG and TPAY community. They also stated that the two communities will work together in one accord in order to advance each other’s product development and goals.
Qualities That Could Drive A Cryptocurrency’s Growth
- Acceptance: the level of acceptance and adoption a Cryptocurrency attains is critical to its value.
- Demand: in so much as there is a demand for the services of a particular cryptocurrency as the case is for privacy focused coin, XVG and TPAY partnership will pay.
- Accessibility: the more exchanges a cryptocurrency is listed on, the more credibility or legitimacy it can command in the eyes of potential buyers.
- Regulation opportunity: increased regulation could create an increased demand for privacy-centric coins amongst people looking to find a way around legal barriers.
- Future projects: its upgrades and future developments would favorably impact the usefulness of a coin
If all the needed changes are properly implemented these two cryptographic projects will be known globally for complete privacy.
Now, when you consider the TokenPay (TPAY) -Verge (XVG) alliance; you will undoubtedly be looking at the future of privacy in the cryptocurrency space. This is because right from its conception, the TokenPay team had been driven by the need to provide an anonymous and secured way for consumers to pay merchants via credit card and Verge (XVG)mirrors this goal as a privacy-centric coin.
This partnership, aside from it helping the two cryptos to achieve needed crypto-banking ideas, it has presented the crypto space with the new face of privacy in the future as it would help resolve issues facing crypto-related firms.