Hello Steemians and investors
Today we going to talk about the differences between the two, and hopefully, help you make better decisions in the future.
The new way a making money, is to create an ICO and to sell air bubbles. I understand that John McAfee created a hype around some coins during the end of the year, but should we trust him? If you believe in technology you can check again, but if you are a daily trader maybe its Telegram Channel can help you.
Technology
Verge - is a rebrand of DogecoinDark - a Dogecoin fork, that use the same technology for the blockchain as Bitcoin and Dogecoin. Every transaction, the sending address, the receiving address and the amount are all visible.
Monero - uses RingCT, and stealth addresses to hide information on the blockchain. For every transaction, you make your address and is obfuscated into the blockchain.
Both currencies can be used with Tor.
Examples
- When you purchase coins on the platform, the platform knows your identity and other significant information about you. With Monero the platform will know to what address did you send your coins and the amount, but won't know which amount do you have in your wallets and see all the transactions you made with this wallet address. With Verge, it can track the total balance you have and all the transactions involving this address.
- If you are going to buy a coffee with Monero, the merchant won't know from what address the money comes from but with Verge he will be able to see if the money is tainted and know its address
Tor hype
Tor can be used by pretty much any cryptocurrency. When you do a transaction the IP address is only leaked as metadata to nodes and never stored in the blockchain that you are connected to. Only the nodes your transaction is connected to will get the metadata. Hiding IP is not enough to hide your identity, you need another privacy layer on the blockchain.Wraith Protocol
Verge says they will you use the wraith protocol. - This protocol is a rebrand of the stealth address the only issue is not mandatory to Verge. Only if a major percentage of the population will use it it will be implemented otherwise it will offer no protection.source: StackExchange
