What is Verge?
In this review of the Verge cryptocurrency, you will learn the most important details about one of the exciting coins on the market. Privacy is what matters most for this cryptocurrency and its related to the decentralized design of the blockchain supporting the network. The Verge coin blockchain uses multi anonymity centric network like TOR. The utilized multiple algorithms of mining increase the security and offer equal and fair distributions of coins. The network has a max supply of 165,55,000,000 coins.
Advantages
There are many positive sides of XVG coin, but I will explore only a few for now.
- Eliminates chargeback fraud
- Incredible transaction speed
- Low-cost transactions
Disadvantages
Looked from another perspective, of course, there are some disadvantages too.
- It could be used for criminal activities because of its complete privacy
- The coin market price is unstable and unpredictable
History and Evolution
Initially Verge coin was called DogeCoinDark and it was launched in 2014, later on, in 2016 it was re-named. Verge cryptocurrency is an open source network offering efficient, private and quick financial services. The project has a global community which is actively working on future goals. It is one of the few projects which never launched any ICO crowdfunding or any pre-mining. The network was built, and it’s still maintained by the same passioned and energetic team which contributed their time and effort to achieve this success. The latest updates of the system in 2018 delivered a significant improvement of the interface, the roadmap, blog of news announcements and one friendlier mobile version. I almost missed mentioning that the Core wallet 4.0 was also released in 2018, improving the optionality of stealth addressing and the Tor integration.
Verge’s Future
Let’s have a look at the future for a while and check what is about to come. Based on the newsfeed we are expecting a new and better version of the Electron-based wallet with a smarter UI design. The official IOS wallet will acquire the full list of features and it will be set as a normal wallet. I already told you how active and exemplary the team is, so if you have any questions you can always seek for their attention, they will reply and help you out.
Verge Blockchain
The blockchain is a decentralized open-source community entirely driven by volunteers. The multi-algorithm of mining gives the opportunity to people with different equipment to participate and it improves the overall security of the network. The algorithms supported are 5 and they are all Proof-Of-Work – Scrypt, X17, Lyra2rev2, Myr-Groestl, and Blake2s. The most appreciated fact about Verge coin is that the technology is built on top of Tor and I2p services which gives you absolute privacy regarding your personal and geological information.
Verge Nodes
With Verge cryptocurrency, we can recognize 3 types of nodes – full nodes, Tor nodes and light nodes. Since the full integration of Tor into the core node codebase stealth addressing become possible. With the upcoming release, the wallets will use Tor to establish the connection between the nodes which will ensure the stealth transactions. And to clear out the mist now, after the upgrade all nodes on the network will transact via Tor and all network nodes will become Tor nodes.
Verge Additional Features
The Atomic swap is a feature worth mentioning, it is also known as cross-chain trading’s and it gives the opportunity to users to trade all types of cryptocurrencies. To use it, you need to enable its capabilities from your wallet, and you will be able to cross-trade currencies without using any centralized parties or exchanges.
Forks or Tokens Based On Verge
There’s only one hard fork for the whole period of existence of XVG coin and the reason for it was another stealth update but no new coins were issued through the process. This fork occurred after the 1,824,150th block.
How to Get Verge
There are two ways of obtaining Verge coins, either you can buy it from an exchange or mine it with one of the 5 supported algorithms. The best exchanges are explained underneath but have in mind that none of them offers fiat to crypto trading of XVG coin.
Where to Buy Verge
And to the point now, where to buy it? As I mentioned, you cannot purchase it with fiat currencies, so you need to acquire some BTC or ETH from Coinbase for example and then convert them into XVG coins. It is definitely worth investing in Verge cryptocurrency because there is a limit of the total supply of coins -16.5 billion, while 14 billion of them are already mined. If we look from a time perspective, if the interest and demand towards XVG continue to grow it will reflect on the market price of it – it will only increase.
| Exchange | Cryptocurrencies | Fiat Money | |
|---|---|---|---|
|
BINANCE
|
Bitcoin, Ethereum | – | Trade now |
|
Bittrex
|
Bitcoin, Tether | – | Trade now |
|
huobi
|
Bitcoin, Ethereum | – | Trade now |
How to Mine Verge
The wide diversity of mining algorithms gives the freedom to choose with what type of equipment to mine Verge coin, either GPU or ASIC both are applicable. If you are curious and eager to know more about the best mining equipment you should check this article HowToMine
| Мining Hardware | Hash Rate | Power | Price | |
|---|---|---|---|---|
| Antminer L3++ | 580 MH/s | 940W | $ 296 | buy now |
| GTX 1080 Ti | 68.32 MH/s | 270W | $ 729 | buy now |
| GTX 1070 Ti | 4.8 GH/s | 166W | $ 533 | buy now |
Wallets for Verge
It won’t be hard for you to find the official Verge wallet on their main page, choose the version suitable for your OS (Mac, Windows, Linux, Android) and just download and run it, here’s is the quick link.
After you unzip the file in directory of your choice and by the way, if you struggle with anything, you can check the guides below but remember one thing. The encryption of your wallet is also an important step that you must not miss in the process because security comes first when we speak about cryptocurrencies and digital assets.
Alternative Wallets
As I explained regarding the unstable price of XVG coin you might consider keeping your funds in a exchange wallet, because you will have quick access and you can trade them constantly. But don’t forget that with that type of wallets you don’t possess your private keys, so it could end up bad but it’s convenient to use. The other available options you can explore on the table below and use the quick links if something caches your attention.
Desktop Wallets
Mobile Wallets
Verge Security
Not long ago I mentioned that Verge coin is also target of shady activities and that’s because it has strong security and absolute integrity of your personal details and coordinates. All of that achieved with the help of the multiple anonymity-centric network like TOR and I2P. The Verge core QT wallet is using TOR integration altogether with SSL encryption and by this way your security comes top notch. Disregarding those facts, the network was target to many hack attempts which raised some fears and concerns regarding the usage and its future.
News and Useful Links
Now that you got deeper understanding what Verge is after reviewing it, you can keep track of the latest developments of the network. You can always stray and check some other websites but always start with the official information channels and those mentioned on the table below.