The Complete Guide to Cryptocurrencies: Verge (XVG)

Verge Coin (XVG) is a prominent cryptocurrency known for its privacy focus and secure payment solutions. Launched in 2014, it quickly gained popularity in the crypto space, offering enhanced anonymity to users. With innovative technology and a dedicated community, Verge Coin continues to pave the way for a more private and decentralized financial ecosystem.

What is XVG? 

Verge (XVG), formerly known as DogecoinDark, was founded in 2014 as an open-source cryptocurrency. Its anonymous creator, who goes by the username "Sunerok", took inspiration from Bitcoin's enigmatic creator, Satoshi Nakamoto. In 2016, the project rebranded to Verge and has since been actively developed to prepare for widespread adoption.

Privacy is Verge's primary focus, aiming to achieve untraceable and anonymous transactions. The project utilizes advanced blockchain technology, incorporating services like  I2P and Tor  to ensure users' complete anonymity. Besides privacy features, Verge also offers a variety of functionalities, including smart contracts.

On the Verge network, transactions are carried out using XVG tokens, serving as the currency for conducting transactions and interacting with the blockchain.

How does XVG work?

Verge achieves its goals of a decentralized and private cryptocurrency through innovative technologies. The first option is to use Tor (The Onion Router) to encrypt and blur users' IP addresses, ensuring transaction anonymity. The second option is IP2 , offering greater anonymity than TOR. It uses separate paths for communications, enhancing privacy, similar to a one-sided phone conversation.

Verge also implements Atomic Swaps, enabling peer-to-peer trading across different blockchains without relying on centralized exchanges. This empowers users to control their transactions and fosters a decentralized future.

For mining, Verge employs the POW (Proof-of-Work)  protocol, similar to Bitcoin, but with "multi-algorithm mining." This approach supports different types of equipment, making mining more accessible. Despite these advancements, Verge maintains rapid transaction speeds, processing and validating transactions in about five seconds, outperforming Bitcoin's 10-minute transaction time.

What is XVG used for?

XVG serves two main purposes: as a global payment method and as an investment tool.

As a global payment method, XVG transactions on the Verge blockchain are quick, taking only 30 seconds to arrive in the recipient's hands and costing less than a cent. Similar to spending cash in the real world, users can conduct digital transactions without disclosing personal details or identity.

As an investment tool, XVG's value started at a very low price of $0.000005 when it was first purchased in 2014. For the following two years, its price remained relatively stagnant, not exceeding $0.00001. However, after the name change, the value surged dramatically, reaching an all-time high of $0.3006 in late 2017. This significant price increase attracted investors seeking potential profit.

Advantages & Disadvantages of XVG

Figure 01. Advantages & disadvantages of Verge (XVG)

Pros:

• Versatility – Verge has a public ledger for transparent data analysis and a private ledger option for anonymous transactions through the Wraith protocol.
• Smart Contracts – Verge is developing RSK technology to introduce smart contract capabilities to its system while preserving user anonymity.
• Speed – Verge can handle transactions faster than Bitcoin and many other cryptocurrencies.
• Mining flexibility - Verge's system utilizes multiple algorithms, enabling XVG mining with any device. Additionally, Verge did not conduct a pre-mine or ICO.

Cons:

• Criminal activities - Verge has faced criticism for being favored by individuals involved in criminal activities due to its privacy features, leading to its rebranding from DogecoinDark to Verge to distance itself from negative connotations.
• Ransomware - Verge has been criticized for potentially facilitating ransomware attacks due to its anonymity, making it difficult to trace the attackers and ransom money. 

Will XVG reach $1?

Regrettably, XVG does not anticipate any opportunities to achieve $1 in the near future. Nevertheless, it's important to recognize that such forecasts are subjective in nature, given the highly volatile nature of cryptocurrency prices. These are highly influenced by various factors such as market sentiment, adoption, technological developments, and overall market conditions. 

Is XVG a good investment?

In our view, Verge does not appear to be a favorable investment. The reasons for this are multifold: it confronts intense competition from similar crypto projects, lacks distinctive technology and innovation, lacks a genuine community (excluding speculators and hype-followers), and has an unproven team backing the project.

Who is behind Verge?

Verge was founded by a long-time developer named Justin Valo, who is also known by the pseudonyms "Sunerok" or "Justin Vendetta." His contributions to the project have played a significant role in the development and evolution of Verge as a cryptocurrency.

How many XVG coins are there?

The current circulating supply is 16,520,708,388 XVG. The maximum supply is 16,555,000,000 XVG 

What is the future price of XVG?

Here are future XVG price predictions:

Figure 02. XVG price predictions

Conclusion

In conclusion, Verge Coin (XVG) is a prominent cryptocurrency known for its privacy focus and secure payment solutions. With innovative technology and a dedicated community, it continues to pave the way for a more private and decentralized financial ecosystem. While facing some criticisms and challenges, its future price is projected to fluctuate, influenced by market dynamics and technological advancements. Overall, Verge Coin remains an intriguing cryptocurrency in the ever-evolving crypto space.