Verge XVG and ZCash ZEC are two of the fastest growing coins as privacy-oriented coins continue to become popular. The two coins have been pushing for the adaptation of privacy-oriented coins and it seems it’s catching on. Unlike mainstream coins like bitcoin and Ethereum which store transaction data in a public ledger, Verge and ZCash ensure that such information is kept private. With these coins, the public cannot identify the sender or receiver of the coins in a transaction. Although the two coins share the same privacy principle, their execution is different. Because of this, the two coins have considerably drifted apart when it comes to prices and their adoption. So, how far have the two coins drifted apart?
ZCash is very much like bitcoin and it aims to become the leading form of electronic currency. ZCash is, however, being ambitious and wants to replace bitcoin because it offers more than it. Other than adoption and price, this is largely true. ZCash offers privacy, which bitcoin doesn’t, transactions are faster, and market cap is lower among others advantages. So, it does have the potential of surpassing bitcoin, but is it better than Verge?
Verge aims at becoming an everyday coin like ZCash and bitcoin. Verge uses multiple anonymity-centric networks such as TOR and I2P. This ensures that IP addresses are kept anonymous and transactions cannot be accessed by third parties. Verge has also proven to be a better transactional coin than bitcoin due to its low transaction cost, speed, and efficiency.
In a head-to-head comparison, ZCash has shown to be more reliable and stable. This year alone, Verge has been attacked in several occasions one of the attacks leading to a 51% attack vulnerability of the project. This has been the worst attack of the project since its launch. These attacks have cast a shadow over the coins potential to keep user transactions private. It has also rocked investor confidence leading to big losses.
In terms of privacy features, ZCash is better at ensuring privacy even over historical transactions. Verge has been proven to show the top 100 transactions on the platform. By listing the top 100 transactions, the public can access information/address of users involved in the transactions. ZCash although it offers optional privacy, ensures guaranteed privacy of transaction. In addition, transactional history is stored centrally, and the system does not involve third-party hosts. This ensures that these transactions remain private to the public.
ZCash after its launch in 2016, steadily grew from below $100 and by Jan 2018, it had hit its all-time high of $876. The coin has however suffered losses through the year like a majority of coins. At the time of press, the coin is trading at $113.38. The coin has shed off close to $770 in the last couple of months.
Verge, on the other hand, began at close to nothing back in 2014, trading at 0.000004. The coin did not see any significant changes until 2017 when it climbed to $0.0081. In January of 2018, the coin hit its all-time high of 0$.23. The coin has however dropped in the past months and at the time of press is trading at $0.013623.