Verge (XVG): An Underperforming Altcoin With A Future
Verge (XVG) is one of the numerous altcoins still to recover from the crypto market crash of last week. Before the sage, Verge was showing much promise as an altcoin trading at around $0.2 as compared to $0.08 of today. Verge is not all a failure as a crypto coin, so we are going to take an overall look at the altcoin Verge.
What is Verge (XVG)?
Verge coin started trading in October 2014 under the alias of DogeCoin. The name was only changed to Verge in February 2016 by the DogeCoin team. Verge aims at bringing cryptocurrency into the everyday life of people and unlike other cryptocurrencies, Verge takes security and user protection to a whole new level.
Verge is not a private company, which means its fund does not come from ICO’s and pre-mined coins. Verge gets its sources for development and marketing from its membership base.
What System Does XVG use?
When it comes to security, no other cryptocurrency does it like Verge. For every transaction, Verge obscures the IP address and geolocation of the user making it impossible to get a location or trace a transaction to a particular person. It achieves this using TOR and I2P technology.
The Wraith Protocol
Unlike its counterparts that make use of cryptography for anonymity and security, verge adopts its own protocol for transaction anonymity. Verge makes use of the I2P and TOR networks to achieve its goal. Verge is a coin focused on providing more security and fungibility for its users.
Amongst the exciting addition to the platform is the support for Atomic Swap (you can exchange verge to any cryptocurrency without the need for a third party exchange coin). Visp also ensures that all messages sent are encrypted and cannot be traced.
How to Trade with Verge (XVG)
One of the best wallets to use for Verge is the Verge Electrum Client, it lets you activate the Tor and I2P protocols. It also provides users with the option of multi-signatures for a transaction. Verge is trading on a number of exchange platforms including Bittrex, NovaExchange, and Cryptopia.
How is Verge Mined?
When it comes to mining XVG, Verge spoils its users with a lot of options. Verge supports up to five hashing algorithms including Scrypt, X17, Lyra2rev2, myr-groestl, and blake2s.
What is the Status of Verge (XVG) in the Market?
Verge is yet to recover full strength after the crypto setback. Verge is currently trading at $0.089 apiece with a market capitalization of $12.9 billion. In circulation is approximately 14.52 billion XVG. Verge may be struggling to get a comeback at the moment, but with the amazing features verge offers, it is hard to see the future of cryptocurrencies without Verge in it.