Verge (XVG) is an anonymous cryptocurrency with a focus especially on privacy. It is decentralized for users who priorities privacy. It enhances upon the Bitcoin blockchain by operating with various anonymity-centric networks including TOR and I2P. It takes advantage of multi-algorithm mining support to improve security levels and present equal coin distribution to miners.
Verge (XVG) Coin Price Today – XVG/USD
The cryptocurrency was originally launched in 2014 by an anonymous developer named “Sunerok”. Its initial name was Dogecoin Dark and it was not very visible in the market. After the name changed to Verge, the currency’s value not only increased by 100% but also began to spread on the market quickly.
It is currently a community funded and developed as an open-source project. Any community members can submit potential commits to their Github repository or contact the primary development team through their contact information on their website.
Other notable team members include CryptoRekt (CMO), Kieran Daniels (VP of Marketing) and Sasha (VP of Operations). The community consists of hundreds of volunteers that regularly contribute to the platform as well.
EMPHASIS ON ANONIMITY
The reason for Sunerok to decide to build Verge was due to security issues. He believed Bitcoin wasn’t anonymous enough, so he designed a blockchain that would allow people to send and receive funds more privately. For instance, it is possible to learn information including transaction history and account balances and etc. during a Bitcoin transaction. Verge, on the other hand, enables the users to hide all of this information, which makes every transaction entirely untraceable. The use of TOR and I2P protocols together enables to enhance Verge’s security measures. TOR, which stands for The Onion Network, is an anonymous browser that helps to conceal the user’s real location by constant server switches.
The Wrath Protocol, which is what Verge team is working on, is a protocol that will allow users to send and receive funds even more anonymously than they already can. It will help to cover up every part of the transaction except the amount that is being sent. It will be like paying with cash at a drugstore. Non-traceable!
FASTER TRANSACTION RATES
When comparing with Bitcoin, Verge is much faster in terms of transaction rates. It can process on average of 100 transactions per second, whereas this number for Bitcoin is only 7 per second. Verge’s network enables it to process a transaction around every 30 seconds. In Bitcoin the time it takes to process is about 10 minutes. Moreover, the total supply of Verge coin, XVG, is predicted to be 16.5 billion. This is notably higher than Bitcoin, which has a limit of 21 million. In the age of change and speed, these numbers are significant for a currency’s value.
· Android Tor Wallet
· OSX Tor QT Wallet
· OSX Tor Electrum Wallet
· Windows Tor QT Wallet
· Windows Tor Electrum Wallet
· Linux Tor Electrum Wallet
· Linux Tor QT Wallet
In terms of the mainstream adoption, the integration of Verge Tor Wallet with Android is a significant step. Users are able to send and receive transactions with a very short period of time through Verge with a native Tor integration and intuitive and user-friendly interface. For average cryptocurrency users who are looking for a convenient way to use cryptocurrencies, mobile application development will be key to their adoption.
VERGE IS MINE-ABLE
Verge can be mined since it uses a 100% proof-of-work consensus protocol. It offers support for five different hashing algorithms and you can find extensive resources and downloads for mining, including the various mining pools for the different hashing algorithms on their website (vergecurrency.com). The 5 supported hashing algorithms are:
VERGE’S SOCIAL MEDIA PLATFORMS
Verge maintains a strong social media presence with the following platforms.
Twitter – @vergecurrency
Consistent news, marketing, development, and community updates posted.
Reddit – https://www.reddit.com/r/vergecurrency/
Managed by the community and contains in-depth information, links, and opinions regarding the platform.
Telegram – Verge Currency
Regularly post news, updates, and answer community questions. Great way to engage with community members.
Medium – https://medium.com/verge-currency-xvg
Posts regarding development, team, community, and marketing updates.
VERGE INVESTMENT HISTORY FROM THE START UNTIL 2018
Before its name change, meaning the years between 2014 to 2016, Verge was not known by many people at all or had any trading activity. So, its value was rather stable. XVG’s value remained at about $0.000005 per coin. Even though this number is quiet low, it is important to take Verge’s enormous coin supply into consideration.
After the name Verge came into play in the market in 2016, the value of XVG rapidly increased from its average of $0.000005 to $0.00001 per coin. This corresponds to a rise of 100% for only due to a name change. For 2016, XVG experienced its highest price in April, where the currency reached $0.000227 per coin.
Throughout the first half of 2017, XVG’s value raised steadily but slowly. Verge team’s release of a new black paper which explained their future plans was also helpful for the price increase.
Similar to many cryptocurrencies in the market, the value of Verge went crazy during late 2017. The whole of cryptocurrency market experienced really big gains when many of the coins have reached their all-time highs. Within the first three weeks of December 2017, Verge experienced a rise from $0.005 to $0.14, which equal to an increase of 2,700%. One week later, the value dropped down to $0.09.
PRICE PREDICTION FOR 2019 AND BEYOND
Maria Jetly, a user on Quora, predicts as:
As Ms. Jetly asserts, the cryptocurrency market is too volatile so it is wrong to invest more than one can afford to lose. It is important to take the rapid increase and decreases as well as other factors into consideration and decide accordingly. For instance, Team Verge is known to spread misleading information about new partnerships or developments. These lead to speculations and affect the currency’s value immediately. For instance, there was a tweet about a partnership being announced on March 26th, 2018. There was no mention of the company and the announcement got postponed. Even the announcement of a possible partnership announcement helped to raise XVG’s value to $0.11.
Furthermore, other crypto coins such as Monero and ZCash which put emphasis on anonymity can also affect Verge’s price. If these strong competitors improve their performances, the value of XVG can be affected negatively.
However, the team of Verge is currently working on a new protocol for blockchain which is called Rootstock. When this protocol begins to be implemented, it will enable the blockchain to generate smart contract technology. This is a brand new technology that others do not possess and if Verge successfully launches Rootstock, the price of the currency is very likely to increase.
Also, Verge’s partnership with TokenPay and a German bank that allows people to spend their Verge coins on a pre-paid debit card is significant for the value of XVG. It is very important since it allows a real-world usage.
CONS AND PROS OF VERGE
It is important to point that the strong growth of privacy coins within the market has been noticeable. A few of these popular ones include Monero, ZCash, Dash and Verge.
On the pros side, there was an emphasis on anonymity in the original Bitcoin white paper, however, Verge is much more private when considered. Verge is also faster and more scalable than Bitcoin. In addition, it is cheaper to send transaction. These features highlight Verge to be more suitable that Bitcoin as a global payments system.
2019 could be a positive year for the price of Verge. On one hand, the partnership with TokenPay could increase demand for XVG, as TokenPay claim they are going to release a debit that can be funded with Verge. This card will allow people from anywhere in the world to spend their Verge coins easily. This will create extra demand which will increase currency’s value. On the other, they could become the first privacy coin to facilitate smart contract technology if they can release Rootstock with success.
However, there are also some elements that points to Verge being a negative investment. Even though the currency values anonymity for the users, the fact that the founder still decides to remain anonymous leaves question marks. Besides not having a public persona to make the deals with, who can be hold accountable if things go sideways with the project?
Also, the spreading of the speculations really affects the price of the currencies. Since the whole industry is volatile, the price increases with the new announcements—even with the announcements of announcements—only to fall back down shortly after. As it has been experienced before, the Verge team likes to engage in promises for developments, but fails to deliver those promises.
It is certainly possible to profit from an increase in the price of XVG. And if you short the coin you might even profit from a crash in the market.
However with so much uncertainty in the market the best anyone can do is make an educated guess as to the direction of the value or the mood of the market. It is important to be informed on the fundamentals.