Want a tip? Buy Verge. Learn how the "Wraith Protocol" works

Blackpaper v3.0 Verge has been released and the Wraith protocol, the next major update of the cryptomeda Verge, is approaching. So, what is the Wraith protocol? How it works? What does this protocol mean to Verge herself? Wraith Protocol, everyone talks about it, but no one really knows "what is".

But before you begin to answer all these questions, it is important to understand the basic concept of "Ledger".

What is a Ledger?
Simply put, a blockchain ledger is similar to a database where all transactions are recorded. In the case of Bitcoin, the blockchain is public, which means that all transactions can be viewed openly and linked to your public address through the explorer. A network can also be private, where transaction data is hidden and can not be viewed.

Until now, both types of records were mutually exclusive, for example, they could not coexist in the same blockchain network. What does it matter to the user? The user needs to choose a specific crypto, if he wants to do anonymous transactions.

Then there's the bug: Is it not possible to have privacy and transparency in the same crypto? Would not it be easier to have both books managed in the same block, so the user does not have to switch between existing ones?

The Wraith protocol solves this problem by providing the power of choice.

What is the Wraith protocol?
The Wraith Protocol is a technology that allows the user to switch clearly between public and private books in Verlock Blockchain. For the first time, users are now free to choose which "book" they want to use.

When the Wraith protocol is enabled - the transaction data is hidden and will not be visible through the block chain browser.

In a circumstance where transparency is required, the Wraith protocol would be OFF, allowing transaction data to be visible in the public book.

In addition, Verge completely hides IP addresses in both cases, thanks to the more advanced version of TOR integrated in the Core Wallet. In combination with the Wraith protocol, the Verge is the only truly anonymous crypto.

How does the Wraith Protocol work in practice? It's very simple. When the user initiates a transaction with the Core Wallet, the toggle button is set to "ON" and the private ledger is activated. Set it to OFF and the public account is active. The process is illustrated below:

What does this update mean for Verge's future?
When transparency is essential, a public blockchain is the solution. A merchant for example who needs to keep a history of his transactions for accounting purposes, etc.

On the other hand, a private blockchain also has its advantages. First, privacy is a basic human right. Second, a private blockchain network can be used for commercial purposes, such as conducting business transactions and handling confidential information. Think of a businessman who wants to keep a part of his activity invisible by competitors to stay ahead in the market. Another example would be an NGO operating in a hostile political environment and receiving financial support in confidence.

The Wraith Protocol provides the user with the power of choice, with unparalleled flexibility and security. Verge's high volume, low rates, ultra-fast transaction speeds, and smart contract functionality created the perfect recipe for general adoption, while putting your privacy first. As Edward Snowden once said,

"Bitcoin is great, but if" it's not private, it's not safe "

The implementation of BIP65 in Verlock Blockchain enables the exchange of Verge currency through atomic swaps, which eliminates the need for "trusted third parties".

Finally, to provide an additional level of security, this update also includes bidirectional encrypted p2p chat functionality in the core portfolio, which protects the end-user against surveillance methods such as stylometry. We call this Visp.

NOTICE
All material produced in this content is speculative.We only give our opinion.

WE ARE NOT RESPONSIBLE FOR YOUR GAINS OR LOSSES
Do not treat the information given here as an investment tip. Do your own study and invest at your own risk.