Verge — Secure and anonymous cryptocurrency with focus on privacy

Background

Verge is a scrypt based alternative crypto currency trying to take the popularity of both Dogecoin and Bitcoin and combine it with the anonymous features of DASH. The block time is 30 seconds and the coin operates through Proof of Work.

VERGE prides itself on being a symbol of progression in the cryptocurrency world. It is a more secure, private, and evolving cryptocurrency that is backed by bitcoin, a ton of developer resources and privacy tools.

History

Verge Currency was created in 2014 under the name DogeCoinDark. On the 15th of February 2016, DogeCoinDark re-branded to Verge. This is the new ticker (XVG). They have only changed the name, no technology was affected by this. The coin, the blockchain and the people have stayed the same.

Blockchain & Technology

• Proof Type: PoW
• Multiple algorithm:
  Scrypt
  Myr-Groestl
  Lyra2Rev2
  Blake2s
  x17
• Maximum supply:16.5 billion XVG.
• Approx transaction Fees: 0.1 XVG
• Speed: Depending on the load of the network, it varies between 5 and 10 seconds.
• Verge uses multi-algorithm mining support. Verge is one of the few cryptocurrencies that support five different hashing algorithms; Namely, Scrypt, X17, Lyra2rev2, myr-groestl and blake2s.
• The Wraith Protocol is a technology that allows the user to choose between public and private ledgers on the same blockchain. Verge Currency wallets feature Tor and I2P networks already integrated, so that there is no additional setup required.

More on Verge Blackpaper: https://github.com/vergecurrency/Verge-Blackpaper/blob/master/Verge-Anonymity-Centric-CryptoCurrency.pdf

Block reward

Approximately total reward: 9 Billion (9,000,000,000) during first year then issuing 1 billion (1,000,000,000) each year after.

• Block 0 to 14,000 : 200,000 coins
• 14,000 to 28,000 : 100,000 coins
• 28,000 to 42,000: 50,000 coins
• 42,000 to 210,000: 25,000 coins
• 210,000 to 378,000: 12,500 coins
• 378,000 to 546,000: 6,250 coins
• 546,000 to 714,000: 3,125 coins
• 714,000 to 2,124,000: 1,560 coins
• 2,124,000 to 4,248,000: 730 coins

FUD Around Verge

First was the epic pump last year where along with other coin McAfee recommended Verge and again around Dec 30 backtracked on his recommendation. Many in the Verge community smelled Rat.

John McAfee: Verge (XVG) is the Best Buy; XVG Price Doubles Overnight — Cryptovest

Later on another FUD emerged that XVGWhale was blackmailed by McAffee to pay $1.1 Million out for pumping XVG or he will spread FUD about Verge.

Verge cryptocurrency reportedly blackmailed by John McAfee ahead of Wraith launch | finder.com.au

My Thoughts

Around that time I also shared my views around the FUD and even though Verge was not a scam given other issues surrounding Verge, it was not really a good long term investment.

The below reddit cutout are some of the FUD to which I also believe and until Verge really bring something great out as a robust privacy focused cryptocurrency, I would not rate it as a great investment. There are much better options out there than Verge.

Reference

• Website: http://vergecurrency.com/
• Twitter: https://twitter.com/vergecurrency
• Github: https://github.com/vergecurrency/
• Information source: https://www.cryptocompare.com/

Disclaimer: This is not investment or trading advice, always do your own independent research.

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