The Verge story began in 2014. True, then the cryptocurrency was called DogeCoinDark and was just one of the attempts of unknown developers to create another improved version of bitcoin.
The project’s Black Paper lists the main cryptocurrency developers: CryptoRekt, Gfranko, and Sunerok. There you can also find two dozen pseudonyms of other people involved in the project.
The founders connect with the rest of the community and look for new specialists through the GitHub service. So, in principle, any talented programmer who supports Verge’s values can join their team. And the main value of the project is the anonymity and security of all network participants.
It is noteworthy that, unlike many other cryptocurrencies, there was not even an ICO to launch DogeCoinDark. The developers created a fork of the Bitcoin blockchain, invested their money in the project, and mined the first coins themselves.
In 2016, the cryptocurrency was renamed Verge (stock ticker – XVG). At the same time, the main principles of the project were announced:
Fixed issue. Now there are about 14 billion coins in circulation, with a total of 16.5 billion XVG to be issued.
Complete anonymity of transactions. Verge uses TOR, i2P, and Wraith Protocol technologies, which provide multi-layered data encryption and make it impossible to trace transactions.
High speed of work. Thanks to SVP technology, it takes only 5 seconds to start one transaction. The network bandwidth is 100 transactions per second.
Convenient mining. Verge works on the PoW protocol, but this is the only cryptocurrency that uses 5 mining algorithms at once: Scrypt, X17, Myr-Groestl, Lyra2REv2, and Blake2s. The reward for a thirty-second block is 12.5 thousand XVG.
How to mine Verge cryptocurrency?
The mining scheme of the Verge cryptocurrency is typical:
- Select equipment.
- Install a mining program.
- Register in the mining pool.
- Link a pool account with a crypto wallet.
- Run the program.
So far, the complexity of mining allows you to use simple equipment to mine XVG. But the greatest profitability is provided by ASIC mining. Experienced users share recommendations:
For mining on the Scrypt algorithm, the Antminer L3 + ASIC is best suited.
For Blake2s – Giant-B.
For Myr-Groestl – Giant X10.
For X17 – Giant A900 and Baikal mini.
Many miners prefer the Lyra2REv2 algorithm, which allows mining coins on video cards (new models from NVIDIA, Radeon, and GeForce are suitable).
There are no separate programs for mining XVG yet. They are selected for the installed equipment. For example, CCminer v.2.2.2 is suitable for mining on NVIDIA video cards.
In terms of mining pools, experienced users are advised to pay attention to the coin.pw, NiceHash, MiningPoolHub and Suprnova.cc.
But if you don’t want to mine coins yourself, you can just buy them.
Where to buy and store Verge cryptocurrency?
The coin is well represented on cryptocurrency exchanges. The only caveat is that there are still few trading pairs to buy Verge:
Paired with BTC, ETH, and USDT: Binance, Upbit, HitBTC, Bittrex, Cryptopia, and others.
Paired with USD: Yobit, SouthXchange.
The official Verge website contains a complete list of sites where you can purchase XVG (section “Get Verge”). It lists both cryptocurrency exchanges and exchangers, which are recommended by the founders of the project themselves. These include the online services ExchangeD, Changelly, NovaExchange, and NexChange.
Is it worth investing in Verge cryptocurrency?
Despite the slow development of the project, most experts assess Verge positively and name 5 arguments in favor of the long-term success of the cryptocurrency:
Long story. The project started more than 4 years ago, has gone through many changes, and is still being improved. According to experts, this already compares favorably with aggressive players in the cryptocurrency market, who are only interested in the rapid promotion of the project and their earnings. Verge, on the other hand, gives the impression of a serious and long-term project in which quality is valued over profit.
Solving the problem of anonymity. Even though Verge has serious competitors, only this cryptocurrency offers a ready-made solution for achieving absolute anonymity of network participants. It is a unique combination of Tor, I2P, and Wraith Protocol algorithms. In the context of increasing government interest in the cryptocurrency market, this advantage becomes decisive for Verge. Thanks to the technologies used, it is generally impossible to track a transaction or establish the identity of the account owner.
Decentralization and independence. Verge is based on an open-source platform and is a completely independent project. By the way, Verge is not even a private company. Personal funds of developers and donations are used to promote the project. Moreover, it is not controlled by large investors or government agencies.
Practical use. The coin has already been accepted in more than 80 services related to online commerce, services, and entertainment. In addition, it is used in well-known cryptocurrency projects: EthereumMiners, MegaXcoin, KickAssCoin, and others.
Impressive roadmap. Soon, the developers plan to implement tools for using VXG in social networks and messengers (Twitter, Reddit, Steam, Telegram, etc.), release a new wallet with Wraith support, and improve the technical performance of the network. In particular, the throughput should be increased first to 400, and then to 2000 transactions per second. The plans also include the creation of an official mining pool, a mining program, and an XVG mining guide.
And most importantly, the developers are going to add the function of the smart contract soon. If that happens, Verge will be the first cryptocurrency with anonymous smart contracts.
Be that as it may, analysts are confident that the coin will soon enter a phase of active growth. Already, the daily increase in the value of XVG is almost 20%. According to forecasts, the price will rise to at least $ 2.5 by the end of the year. In this case, each dollar invested will bring about $ 30 in net profit.
Many experts call Verge an unfairly undervalued coin and advise adding XVG to your cryptocurrency portfolio. The coin is ideal for medium to long-term investments. There is simply no point in playing the course while it fluctuates within a few cents.
