Verge (XVG) is one of the many upcoming privacy-oriented coins and it is rather popular at it. In recent times, privacy has become an option in a space that was originally created to be transparent and public. Now, coins like Verge have made it possible to keep transactions private and untraceable. It’s achievements as a project has been evident with the coin’s (XVG) performance in the crypto market. Here are five reasons why the coin should make it to an investor’s portfolio for 2019.
Verge makes it easy to be adopted in any country and to be listed on any exchange in the world. The coin has given users the option to opt for a private transaction or public transaction through its Wraith protocol. Fully private coins have been banned by governments and remain unlisted in many exchanges as they do not meet policies. However, coins with optional privacy can easily adapt to different rules and can be easily accommodated by exchanges.
Verge remains one of the oldest and most reputable projects, having begun by the name “DogecoinDark”. DogecoinDark, now Verge, was created in 2014, just five years after Bitcoin. Like bitcoin whose founder is still unknown, Verge’s true founder is still unknown and only goes by the username “Sunerok.” The founder of the coin believed that people deserved the right to privacy and that banks were accessing too much information through debit and credit cards. The banks would then use the information they collected- where you travel to, how you spend your money, and the like, to create and market products to their users.
Verge’s early entrance to the industry has facilitated it with a better understanding of the inner workings of the industry. Also, over the years it has built trust with many investors and companies.
DogecoinDark rebranded to Verge at the beginning of 2016 and has since grown to a $246,668,277 currency with an all-time high of $1.5billion.
Speed And Scalability
Verge’s blockchain will process a transaction in just 30 minutes. This is 9 minutes and 30 seconds faster than the world’s most valued cryptocurrency, bitcoin. It is also fairly faster than many more cryptocurrencies out there. This is not all that the blockchain can do better than bitcoin. Scalability which has been an issue with first generation blockchains is much better on Verge. Where bitcoin will only process 7 transactions a second, and Ethereum 15 transactions a second, Verge will process a maximum of 100 transactions per second. Put speed and scalability together and you have low transaction cost.
Verge has made mining fairly easy and cheap for anyone looking to mine it. Verge supports five mining algorithms- Scrypt, X17, Lyra2rev2, Myr-groestl, and Blake2s. This means that the coin doesn’t require complicated and expensive gear to mine. Anyone with a CPU’s, GPU’s or ASIC’s can mine it. This makes the project more decentralized and there always enough coins in circulation. This feature can also be praised for being environment smart since CPU’s and GPU’s require far much less electric power than the hardware required to mine bitcoin.
The project earlier in the year made a partnership deal with Pornhub that would see the popular site accept Verge coins as a mode of payment. Although the deal was shrouded with controversy, it remains a major milestone for the team. Another platform that has also signed up and is accepting Verge is Brazzers.
The coin also earlier in the year partnered with German bank WEG Bank AG, the partnership will see the bank release debit cards that allow users to use XVG through the cards just as easily as they would with bank-issued cards.
At the time of press, the coin is performing outstandingly well, trading at $0.016258. This is a price surge of 7% in the last 24 hours. The coin looks set to end the year strong and began 2019 even stronger.