Verge (XVG)

Overview

Verge is marketed as a secure and privacy-focused alternative to Bitcoin and other crptocurrencies. The way it achieves this is by natively including support to transact with the Verge network through Tor and I2P. The project also recently launched their so called 'Wraith Protocol' which claims to make transactions completely anonymous. Verge is available from a long list of exchanges and there are a few vendors already supporting payment via Verge. Wallets exist for all major desktop platforms and Android.

XVG Quick Specifications

Price: $0.11 USD
Market Cap: $1,635,775,153 USD
Total Supply: Fixed max supply of 16.5 billion
Current Supply:
Algorithm: Multi (scrypt, x17, Lyra2rev2, myr-groestl, and blake2s
Block Time: 30 seconds
Transactions: 100 tx/s
Status: Full Release
View Full Specifications

XVG Founders

sunerok (Identity unknown)

XVG Innovations and Unique Features

- Verge is a multi-algorithm coin. Miners can choose to mine blocks using any of the 5 available hashing algorithms. - Verge's wraith protocol claims to offer a completely anonymous way to transact with the network. This feature is relatively new but initial results appear to support the claim.

Good Parts

Fast transactions
Strong focus on privacy
Widely available

Bad Parts

Single core developer
Lots of hype surrounding the coin
Unaccepting and sometimes toxic following

Development

Verge's core is developed primarily by a single person who goes by the online alias 'sunerok'. Other areas of the project are handled by a long list of community volunteers. Verge is open source and available on GitHub. It is released under an MIT license. Libraries are available for PHP, Ruby, and JavaScript. Resources for developers are lacking.

Coin Usage

The coin itself is used as a currency. The value comes from its utility to transfer wealth between two accounts.

Release

Verge began as a fork of DogeCoin named DogeCoinDark. DogeCoinDark was announced on bitcointalk.org in October, 2014. It was later rebranded to Verge around February, 2016. There was no ICO, the current circulating supply has all been produced by miners. At the time of release 111 blocks had been mined by the developer, equalling ~0.13 % of total supply or around 22 million XVG.

Concerns

- Verge does not have an abundance of resources at its disposal. There is no company or foundation backing the project and no management team paving a path forward. If the lead developer left the project, progress would halt. - Verge has a history of announcing release dates for features but not delivering on time. The core developer has blamed poor communication from the marketing team. This has resulted in hype and panic selling making the value of the coin volatile around announcement dates. Overall, the project continues to release the features promised, albeit late. - The project began as a fork of the 'joke coin' DogeCoin and went so far as calling itself DogeCoinDark to begin with. Over time the project has taken a more serious approach to brand and communication alleviating some of this concern. - Verge's price jumped from under 1c to $0.28 USD following a tweet from John McAfee and subsequent fake screenshots posted on Instagram.

Exchanges

Exchange Pair
Binance BTC/XVG

Trading Charts