Verge (XVG) Review, Price, Market Cap and more | Coinopsy

Verge (XVG)

Verge (XVG) - Fast n Cheap

Verge is a privacy focused cryptocurrency. It is designed for fast and cheap transactions suited for everyday use. Verge provides both individuals and businesses with flexible peer to peer payment options...
Pros Cons Related Cryptos Review
Verge's current price is $0.004 USD. In the past 24 hours, Verge's price has increased by +0.2 percents..
XVG
Name (Ticker)
Verge (XVG)
Price (USD)
$0.0040521872086
Rank
156
Active Supply
16.3 billion
Total Supply
16.3 billion
Max Supply
16.6 billion
Volume(24H)
1.4 million
Market cap
66.0 million
Fun Name
Fast n Cheap
Meta Tags
Website Links
Social Links
Block Explorer

Chart

Pros

  • Fast
  • Low cost transactions
  • Lots of exchanges

Cons

  • No direct backing (asset, profits, commodity)
  • Shady beginnings
  • Associated with scams

Review

Verge is a privacy focused cryptocurrency. It is designed for fast and cheap transactions suited for everyday use. Verge provides both individuals and businesses with flexible peer to peer payment options.

Anonymity

The Verge protocol offers some of the most competitive privacy features on the cryptocurrency market. The first feature is Tor integration, which essentially is an IP obfuscation service that enables anonymous communication across the network. 

The user’s internet traffic is wired through a worldwide volunteer relay consisting of thousands of devices, concealing any information about the user’s device. Tor is integrated in all Verge wallets, but that’s not the only privacy feature that Verge offers. 

I2P integration is another part of Verge’s privacy infrastructure. The feature which was originally built to provide hidden hosting services integrates into the Verge ecosystem the same way Tor does, however it preforms packet based routing as opposed to Tor’s circuit based routing. 

And finally, the infamous Wraith Protocol, which allows users to switch between public and private ledgers. When it’s turned on, any data related to the transaction is hidden and not traceable by the blockchain explorer. These features combined make Verge the only truly untraceable cryptocurrency.

Mining

The Verge currency supports several mining algorithms, including Scrypt, X17, myr-groestl and others. This ensures the decentralization of the network as it allows the currency to be mined with a wide variety of diverse hardware, also increasing security. Verge allows for atomic cross-chain trading, making it interoperable with other cryptocurrencies that also have the feature.

Issues

Verge has had its fair share of controversy surrounding it. Like most early crypto projects, it had shady beginnings. Many early adopters may remember Verge by its previous name, DogeCoin Dark, which is simply a copy of DogeCoin with Tor integration. 

However, the most notorious controversy case came up in 2017, when a Verge whale (A person who holds a lot of Verge) allegedly struck a deal with John McAfee to promote the project and essentially pump the price, which he did, after a series of promotional tweets in a pure market manipulation attempt. 

The Verge whale then leaked a bunch of DM screenshots of a conversation between him and McAfee where the controversial businessman said that he’d withdraw all his support for the currency if he isn’t remunerated, asking for a huge premium and promising to crash the price of the cryptocurrency by using his standing in the crypto community.

Conclusion

All in all, Verge is an interesting project. It has numerous, high-traffic websites integrating it as a payment method, including the adult industry giant Mindgeek. While it had some sketchy past, with the current re-branding, updates and Wraith Protocol, the currency is definitely here to stay.

Add
Add

Facebook News

Twitter News

Reddit News

Add
Add