Kyber Network KNC to Verge XVG Exchange

Crypto Pair Details: KNC to XVG

Kyber Network KNC

Kyber’s on-chain liquidity protocol allows decentralized token swaps to be integrated into any application, enabling value exchange to be performed seamlessly between all parties in the ecosystem. Tapping on the protocol, developers can build payment flows and financial apps, including instant token swap services, erc20 payments, and innovative financial dapps - helping to build a world where any token is usable anywhere. Kyber Network maintains liquidity through the dynamic reserve pool. The pool contains all of the Reserve Entities in the system. Having multiple entities in the pool prevents monopolization and keeps exchange rates competitive. When a user requests an exchange, the Kyber smart contract makes the exchange through the Reserve Entity with the best exchange rate for the user. By allowing external Reserve Entities, Kyber Network prevents centralization and opens the door to low-volume token listings. External reserves may be fine with taking on the risk of storing less popular tokens that the Kyber reserves don’t list. To prevent bad actors in the reserve pool, Kyber Network has few safeguards. The network will flag any exchange rate for special approval that’s greatly outside the norm. To protect funds in a public reserve, Kyber makes all exchanges using them available through a transparent fund management model. The Kyber team is impressive. Loi Luu, Yaron Velner, and Victor Tran are the founders behind the project. Luu previously created Oyente, the first open-source security analyzer for Ethereum contracts, and cofounded SmartPool, a decentralized mining pool project. Velner has been active in the Ethereum bug bounty program, and Tran is also a lead developer at SmartPool. The team has a well-rounded advisory board with the most notable member being Vitalik Buterin, Ethereum wunderkind. In August 2017, Kyber successfully launched their testnet beta. They plan on releasing their live product in Q1 this year in which you’ll be able to trade between Ethereum and ERC20 tokens. The project has an extensive list of partners including Request Network, Wax, and Storm. Because it’s an ERC20 token, you can store KNC in any wallet with ERC20 support. MyEtherWallet is the most popular online option. MetaMask works as well. Many investors choose to use a hardware wallet for additional security. You can’t go wrong with either the Trezor or Ledger wallet as both supports KNC.

Verge XVG

Verge coin started its cryptocurrency journey in 2014, going by the name of DogecoinDark. The reason it was created was to create a truly private cryptocurrency. The founder of Verge felt that Bitcoin wasn’t anonymous, so he decided to build a new blockchain where transactions could not be traced. Verge uses multiple anonymity-centric networks such as TOR and I2P. The IP addresses of the users are fully obfuscated. The Core QT wallet has built-in TOR integration as well as SSL encryption which adds an extra level of security. Verge is an open source project with an active team of developers from all over the world. The development team is always in close contact with the community. Verge is not a private company funded through an ICO or premining. Wraith Protocol is a technology upgrade package that enables our users to be able to send and receive payments privately across our blockchain by enabling stealth addressing services. Additionally this update removes our QT wallet users off of clearnet and migrates everyone to SSL enabled Tor. Verge focuses on security and maintaining user anonymity just like Monero; so that is its latent upside. Many investors are also applauding its unique technology. Having been improved and integrated with the Wraith Protocol technology, verge users are now able to effortlessly switch between private and public ledgers on the Verge blockchain. Before this, private and public ledgers were mutually selected, meaning that they could not co-exist on a very similar blockchain. But investors are today free to use whatever ledger they want. A good example was when Wraith Protocol switched ON – one will not be able to view the transaction data, not even via the blockchain explorer. Additionally, Verge makes obscure the IP addresses in both instances. When coupled with Wraith Protocol Verge certainly becomes the only undetectable cryptocurrency. Furthermore, transaction speed on Verge is light speed at 5 seconds only, using Simple Payment Verification technology. Verge also maintains a community feel since it’s not a private company. Community members are responsible for the direction of its technology and where the coin heads next. It currently offers a number of secure mobile wallets, including the Tor Android Wallet, which offers mobile anonymity, another big plus over Bitcoin. Verges offers five different Proof-of-Work algorithms for mining. They include; Lyra2rev2, Scrypt, X17, blake2s and myr-groestl. Offering a choice of five different algorithms promotes inclusion, since a wider variety of users will now have an opportunity to not only mine but influence the network. Should one algorithm demand greater mining resources, users get an option of just switching to a different one.

SOURCE: COINGECKO

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