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What is Verge XVG Coin? Everything You Need to Know

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what is verge xvg coin

Cryptocurrencies are gaining importance with every passing day. This is mainly because of the rising values of almost all the cryptocurrencies in 2017. Most of the prominent cryptocurrencies had touched their all time high values in the last week of December 2017. Bitcoin was the leader of all other cryptocurrencies and its value too touched an all time high of $ 19783. This attracted the investors and companies to invest in these digital currencies.

Although the announcements of regulations from various governments and the ban on cryptocurrency trading in many countries have decreased the values of cryptocurrencies, yet the experts are seeing a great scope in investing in these assets. The result is the development of a lot of digital assets and crypto exchanges all across the world. One such new digital token is Verge XVG.

What is Verge XVG Coin?

verge xvg coin

Verge XVG is also a cryptocurrency that operates in a different way unlike other digital currencies. It uses its own Verge network for much greater speed and lower transaction costs. This network employs many identity obfuscation techniques that are already being used in many fields of life. Due to high level of privacy, the coin has become the 20th most prominent coin in respect of market cap. The coin has beaten all other anonymous coins like Monero, Zcash, and DASH in value. This is because it plans to be the first privacy coin and to develop smart contracts.

History of the Verge XVG Coin

Verge XVG was founded by Sunerok in 2014. The initial name of the currency was DogecoinDark that was later renamed as Verge XVG. The reason behind this change in name or rebranding was the connotation conveyed by the first name of the currency. Doge was the name of a novel that was meant for whimsical internet forums while the word Dark conveyed the meanings of something unlawful. At first thought, the name of the coin aroused the thinking of some criminal activity in the mind of the investor. In February 2016, the team behind the currency renamed it as Verge XVG.

They also called it ‘the future of privacy’ due to its privacy features. Unlike other crypto tokens Verge XVG is based on entirely an open source project led by a community. Here, it is quite important to mention that no one knows the location of its operations all across the world. But the objective is the same everywhere, the decentralization, the privacy, and anonymity. The developing team worked very hard in the guidance of Sunerok who is the core developer of the project even today. Here, it is worth mentioning that the core developer of the project Sunerok has remained a staunch supporter of decentralization. He has 20+ years experience of working in network security project and more than 6 years experience of working in various blockchain projects.

One of the most attractive features of Verge XVG coin is that it is community led. This means that the company has never issued any ICO or owned pre-mined coins. Instead, it gained value due to the untiring efforts of its developers and the marketing management team.

Working of Verge XVG

As earlier said, Verge XVG operates in different pattern unlike other cryptocurrencies. Most of the cryptocurrencies operate on peer-to-peer basis and all the transactions are stored on a public ledger. Anyone using this blockchain ledger can see the balances of various accounts as well as can track the transactions taking place. This means that these are less secure and prone to hacks. Although all the digital currencies use cryptography technique for increased security, yet there are many risks involved in this technique because it has become worn out and outdated. New and new improvements are hitting the field of blockchain technology thereby enabling the companies to enhance the security features.

Verge XVG does not use cryptography technique. Instead, it uses TOR and I2P to save the IP addresses and geo-location of the users. Thus, all the balances and transactions are confidential in its operations.

Also, the block time of the cryptocurrency is 30 seconds and this helps it to support 100 transactions in a second. Here, this coin even beats Bitcoin which supports only 7 transactions per second. And, the transaction fee of 0.1XVG also makes it one of the best coins in the market. Verge XVG is also different from other crypto tokens because it releases ‘blackpaper’ instead of ‘whitepaper’ to detail out the technicalities of the project.

Price Analysis

verge price analysis

Like all other cryptocurrencies, Verge XVG has also passed through many ups and downs over the period of time. During the global explosion in the values of cryptocurrencies in December, Verge XVG also showed a spike and the value of the coin showed an increase of about 3000%. Due to this increase, the value of the token reached an all time high of $0.30. The crypto experts in those days were of the view that the coin will hit $ 15 mark easily showing 150,000% growth in value. But the slump in the crypto market badly affected the value of this coin. Nowadays, the coin is trading between $0.06 and $0.09.

Main Features of Verge XVG

Due to being equipped with latest developments in blockchain technology, the coin is loaded with a lot of peculiar features. Some of its features are:

  • Uses identity obfuscation techniques.
  • Uses TOR and I2P for increased privacy of transactions.
  • Uses ‘Wraith Protocol’ to allow users to choose between performing public and private transactions.
  • 100% open source and all the development is done through verge community.
  • Has never released an ICO.
  • Has 30 seconds block time and supports 100 transactions per minute.
  • Takes lower fees as 0.1 XVG.
  • Issues black paper instead of white paper for other cryptocurrencies.
  • Allows the senders to use stealth addressing to create unlimited destination addresses.

Where to Buy?

Although the coin is ranked 20th in the list of crypto tokens, yet it is available at many top rated crypto exchanges all across the world. The users can buy Verge XVG from Changelly with credit/debit card.

Changelly Voted #1 Best Cryptocurrency Exchange 2018 Read Our Review

changelly coin buy

also you can trade Verge XVG on Binance, Bittrex, Cryptopia, and many other exchanges. Some of these exchanges accept the payment even in local currencies. The users can also trade Verge XVG with other cryptocurrencies available at certain exchanges.

Conclusion

In conclusion, we can easily say that Verge XVG is one of the top crypto tokens with a bright future. This is because it offers high degree of privacy to the users through using Wraith Protocol. Moreover, the block time and the number of transactions per second make it one of the favorite cryptocurrencies being traded across the world.

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Founder and Editor of RippleCoinNews.com. Passionate about how technology can empower people to create a more just and sustainable world. Don't like authorities that are ruled by international corporations. love traveling, Hate my phone :(

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