A Summary Of 2018
ABOUT VERGE CURRENCY
Verge (XVG) is a cryptocurrency designed for people and for everyday use. It improves upon the original Bitcoin blockchain and aims to fulfil its initial purpose of providing individuals and businesses with a fast, efficient and decentralized way of making direct transactions while maintaining your privacy. Our mission is to empower people around the world by bringing blockchain transactions into everyday life. Verge Currency makes it possible to engage in direct transactions quickly, efficiently and privately. It is 100% open-source software and not a private company funded through an ICO or pre-mining. Development and marketing efforts are supported by thousands of volunteer community members.
THE YEAR OF A “GREAT CRYPTO CRASH”
It’s no secret the market cap of cryptocurrencies is drastically lower than at the beginning of 2018, a year also known as the year of a “great crypto crash”. Despite the significant price drop in 2018, we have seen a lot of technological advancements and made some progressive steps towards mass adoption of cryptocurrencies. Blockchain and cryptocurrencies are still in their infancy and according to a survey performed by the consulting firm Greenwich Associates (Forbes article), over 70% of institutional finance executives believe cryptocurrencies are here to stay.
Verge Currency, supported by its partners, is playing a large role in this technological economic revolution.
Now, let’s remind ourselves of what Verge accomplished during 2018. Get ready, it’s going to be a long article.
NEW BRANDING GUIDE
Since the birth of Verge, branding was never a priority. In 2017, Verge Currency evolved into a mass market player, where branding could not be neglected any longer. At the beginning of 2018, Hassan created a New Branding Guide, an essential tool for everyone who wants to help with the outreach and for Verge Currency to establish a strong brand identity. Feel free to download our Press Kit and Brand Assets.
MindGeek is a global industry-leading information technology firm headquartered in Luxembourg, with offices in Nicosia, London, Miami, Montreal and Los Angeles. MindGeek continues to drive the state of technology forward, developing industry-leading solutions enabling faster, more efficient delivery of content every second to millions of customers worldwide. MindGeek Group owns over 85% of the adult entertainment with websites like PornHub, Brazzers and YouPorn to name a few. TrafficJunky, their online advertising giant, gets 12% of the total daily internet traffic. Read more about the partnership in Fortune magazine.
NetCents is a next-generation online payment processing platform, offering consumers and merchants online services for managing electronic payments. The company is focused on capturing the migration from cash to digital currency by utilizing innovative blockchain technology to provide payment solutions that are simple to use, secure and worry-free. NetCents has partnered with Verge along with its financial partners, mobile operators, exchanges, etc, to streamline the user experience of transacting online. To find out more about the partnership please read the “Project Mass Adoption” article and NetCent’s Press Release.
PLAAK is a Singaporean based Software Development & Blockchain Technology Company with a suite of high-tech and easy to use applications for mobile and desktop computer devices. Developing useful everyday applications that can store, transact and also trade digital currencies encourages global use and wide spread adoption. One such product is the PLAAK Core Card, a sleek and easy to-carry-and-use device, enabling Core Card owners to safely store, transact and receive digital currencies anywhere.
The Crypto Den is a multi-platform service aimed at mass adoption through education. The Crypto Den’s goal is being a one stop shop, to make crypto less cryptic for the public whilst facilitating a peer-to-peer crypto marketplace, as well as presenting networking and partnership opportunities between communities, projects, exchanges and businesses alike.
Verge Currency, PLAAK and The Crypto Den have recently announced a three way collaborative effort that brings a branded hardware wallet to the Verge Community. Read more about it in the “Trifecta for Mass Adoption” article written by Alex.
On the 1st of January, 2018 we introduced stealth addressing in our QT wallet. Stealth addressing is a technology upgrade package that enables our users to be able to send and receive payments privately across our blockchain. Additionally this update removes our QT wallet users off of clearnet and migrates everyone to SSL enabled Tor. Through this system, users now have an additional layer of base IP obfuscation as well as the option to utilize stealth addressing services for their transactions. Stealth addressing allows for complete anonymity to be maintained while providing a safe and secure method of sending and receiving Verge Currency.
A block reward halving happened on May 9, 2018 at block 2,124,000 and was part of Verge’s predictable, transparent monetary policy. Mining reward per block was halved from 1560 XVG to 730 XVG. Here’s a list of all the Verge halving’s in the past:
- 0 to 14,000 : 200,000 XVG
- 14,000 to 28,000 : 100,000 XVG
- 28,000 to 42,000: 50,000 XVG
- 42,000 to 210,000: 25,000 XVG
- 210,000 to 378,000: 12,500 XVG
- 378,000 to 546,000: 6,250 XVG
- 546,000 to 714,000: 3,125 XVG
- 714,000 to 2,124,000: 1,560 XVG
- 2,124,000 to 4,248,000: 730 XVG
On March 24, 2018 we released our new and marvellous looking website. It took the experience of Verge Currency at it’s first glance to the next level. This website enabled us to show what Verge is and has accomplished, in a far greater way than before. A true milestone for an open-source community, driven by only volunteers. Huge shout-out to our community members who have already translated the website to their native languages!
Rebasing The Codebase
In 2018 we started rebasing the heart, the motor, and the holy grail of Verge Currency — our codebase. When we decided to do this, we knew it would take a lot of pain, sweat and tears to get it complete. Even though more developers have joined us in this great cause, there are still some tasks to be completed. Some of the most notable benefits of moving our core code to the latest revision of Bitcoin core v 0.17 are as follows:
- Substantial blockchain performance improvements
- Greatly improved chain validation via improved PoW implementation
- Revised and improved RPC commands
- Greatly improved chain security
- Greatly improved CPU and Memory performance
We understand that there is going to be a small subset of individuals who would like to read further into the changes coming. For those folks we will be posting change logs that have been modified to accurately reflect the changes we are implementing into our blockchain upon the public release of the new codebase.
Electron Desktop Wallet
We started working on an electron wallet with the idea of making it easy to work with, fast and secure. We have come a long way with this product and its release will come soon after the codebase release.
We started the development of this wallet in June, 2018. The much needed wallet is on a 50% progression level and we’ll soon be opening it for a public beta.
New Android Wallet
We started working on a new version of the Android wallet sooner then expected. It will follow the same user experience as the iOS wallet. One of the most user friendly upgrades besides the design, is the integration of the TOR client as a built-in component of the Android Wallet, which translated means that Orbot, as useful as it is, will no longer be required.
Verge is available for purchase and trading on over 35 exchanges with Binance, Bittrex, Upbit, and Bithumb being the most popular. A list of all the Verge markets (50+) can be found on the Coin Market Cap website and a complete list of the exchanges can be found on our website. Exchanges that have listed Verge in 2018:
- Bitfinex is a full-featured spot trading platform for major digital assets and cryptocurrencies. Verge can be traded against BTC, ETH, USD, GBP, EURO and JPY. Read more about the listing in the Bitfinex blog.
- Bithumb is the number one cryptocurrency exchange in South Korea, allowing users to buy, sell and store cryptocurrencies. Bithumb offers additional services like remittances and gift vouchers. Verge can be traded against KRW.
- Huobi is a Singapore based cryptocurrency exchange. Founded in China, the company now has offices in Hong Kong, Korea, Japan and the United States. Verge can be traded against ETH and BTC.
- AnyCoin Direct is a European (The Netherlands) based cryptocurrency exchange. Verge can be traded against EUR.
- Bitbns is the fastest growing cryptocurrency exchange in India. Verge can be traded against INR.
A great number of vendors around the globe, from the various industries, have realised the benefits of accepting Verge Currency as a means of payment. It has been one of the most used cryptocurrencies for payments and settled somewhere in between the 5th and the 10th place for the most part of the 2018. At the time of writing (December 27th, 2018) Verge was on the 10th place with 21,540 payments in the past 24 hours according to Messari.io.
As Akshay stated in his article: “Vendors are the bridge between cryptocurrencies and mass adoption. They facilitate the trade and encourage a larger population to adopt virtual currencies. Verge has a vast array of vendors selling all kinds of products and services.”
Let’s name a few who have joined the Verge movement in 2018:
- BLUNT Umbrellas are the world leader’s in the umbrella market. Their vision has always been to inspire others and advance the category for the better.
“Accepting crypto as a payment option was a no brainer. we wanted to partner with a cryptocurrency that had a strong community, solid history and an exciting future. That was Verge.”
Joel Schuberg, Blunt Umbrellas
- Fractal Visuals, an industry leading video production company based out of Austin Texas.
“Incorporating faster payment technologies like Verge, which offers ultra-low processing fees and near instant transaction speeds, allows us to further increase the speed at which our company is able to process payments”
John Hanby, Fractal Visuals
- Dioxyme is one of the largest supplement companies in the world and renowned for their world class supplement solutions. Dioxyme are also leaders in stacks specifically designed for the athlete and weight loss demands.
“Verge has quick transaction times and has a large community. I met Justin and loved everything he had to say and we decided to accept payments with Verge”
Bennett S, Dioxyme
- Baby Moss offers baby clothes, baby gifts, and baby accessories in stylish colours and accents.
“Some of the products we sell have a low margin. Accepting Verge over regular credit cards help improve that margin for some of those orders.”
Jeremiah Selander, CEO, Baby Moss
- High Life Goods started its modest beginnings 10 years ago in the SoCal beach town of Venice, California, and has since become one of America’s best and largest online smoke stores.
“We encourage payments with Verge by running offers that include 3 free items with your order if you pay with Verge. In the future, we would like to donate to the same causes that Verge donates to.”
Christian Sutton, Highlife Goods
With Verge you can already purchase VPN services, clothing and accessories, subscriptions at adult entertainment websites, jewellery, electronics, cars, art, water-crafts, cannabis seeds and extracts, herbs, food and drinks. The list goes on. Click here to see the list of all Verge vendors.
FUELED BY VERGE
Fueled by Verge is a statement of commitment to mass adoption by educating and spreading awareness of blockchain technology and Verge Currency by the VergeFam. It is a worldwide effort from individuals excelling in their unique fields, masters of their crafts, sharing their achievements. With this, we can build awareness and educate what Verge and blockchain technology is all about. The goal of FbV is to showcase the utility of Verge through events by its community. Our Verge Currency team is the first team that is “Fueled by Verge” in both design and spirit. Two very successful athletes have already joined the FbV movement :
- Danny Robertson is a 9 year old Moto X racer from Calgary, Alberta, Canada. He has an extraordinary 5 years of racing experience. He is regularly training and has a huge potential to become a legend in motocross world.
- Gil Linster is a NASCAR pilot from Luxembourg. He raced strong and recently finished his 2018 season of the Elite 2 category in 5th place. Gil will also be racing in the USA in his next season with the addition of NASCAR’s Whelen All-American Series.
COMMUNITY | #VergeFam
It was probably hard for some to stay as supportive during the year of a “great crypto crash” when they had to watch the value of their portfolio drawing down throughout the year. Nevertheless, none of the above mentioned accomplishments would’ve happened without such a passionate community.
Powered by the VergeFam, Verge Currency has become something much larger than just being a cryptocurrency; it has become a global movement. Driven by like minded individuals who value privacy and top notch technology, and fueled by strong passion that drives them towards mass adoption of Verge.
Our Dutch community organized the first international Verge Meet-Up in Amsterdam on June 9, 2018 where the VergeFam had a chance to meet like minded people in person and enjoy their time by exploring Amsterdam.
Join the VergeFam on any of the following social media networks:
Being that Verge is an open-source software project, driven by community volunteers, the core team happens to be just another VergeFam subgroup formed of the most active community members. All contributors, including the core team, are unpaid volunteers who donate their time and energy into the project because they are passionate and believe in Verge.
Sadly, a few of the volunteers had to leave the core team in 2018 due to various personal reasons. People like Sasha, Anthony, Cees, Chris, Ronald, Ernstjan and others will never be forgotten, their contributions have helped Verge tremendously. Even today, all of them are very supportive of the project and often active on our social media networks.
Although it was sad to see these leave, the many passionate people that have joined the core team in 2018, though, are incredible! A plurality of very talented individuals like Hassan, Kristopher, Dini, Han, Marvin, Swen, Manuel, Joel, Timothy, Mark, Lloyd, Akshay, Akashiro, Numan, Jason, Harry, Dan, Samantha, Lohann, Jeff, Nathan, Mikael, Leon, Alex, Adam, Diana, and myself, have joined. We all share the same mission — to empower people around the world by bringing blockchain transactions into everyday life.
The list of all core team members can be found on the Team Page located on our website. Find out more about the core team in the “Meet The Team Behind Verge Currency” article, written by Kristopher. For those who don’t like to read, we have made a “Meet The Team” video.
Crypto Economy Event took place in Barcelona, Spain between the 16–18 of October, 2018. The conference consisted of three different subjects: Artificial Intelligence, Internet of Things and of course Blockchain. Arend, Verge’s payment integration manager, presented at the De(v)Central stage. The topic of his presentation was “How Verge is working on Mass Adoption”.
Crypto Rockstars Event took place in Cologne, Germany between the 26–28 of November, 2018. Verge was represented by Alex and Swen van Zanten who have talked about Verge Currency in general and the importance of financial privacy.
Bitladon, a cryptocurrency exchange based in The Netherlands, has sponsored Verge team members and helped with the travel and accommodation expenses.
- Justin, Verge founder and lead developer, had the pleasure to be interviewed by Bloomberg, Asa Akira on the PornHub Podcast, CNBC, and by Frank Dashwood on RadioCrypto.
- CryptoRekt, Verge core team founder and lead advisor, has also been interviewed by Frank Dashwood on RadioCrypto.
- Arend, Verge’s payment integration manager, has been interviewed by NewsBTC during the Crypto Economy Event in Barcelona, Spain.
- Alex, Verge’s content editor, has been interviewed for the Crypto Rockstars Event in Cologne, Germany.
2019 | ROADMAP GOALS
As an open-source community and volunteer-driven project, our Roadmap is meant as a general guideline for how we are developing Verge into one of the best cryptocurrency options out there.
Here are some of the goals, but not limited to, we’re targeting to release in 2019:
- Rebased codebase which includes the newest standards shared by Bitcoin (Bitcoin core v 0.17)
- Ring Confidential Transactions which offer advanced masking of transaction amounts
- Mobile wallets (iOS / Android)
- Electron based desktop wallet with better performance and minimalist UI design
- Merchandise Online Store (Verge branded apparel)
- RSK Smart Contract Integration
Happy New Year VergeFam!
May 2019 bring new happiness, new goals, new achievements and a lot of new inspirations to your life.
Verge Currency core team wishes you and your loved ones every day of the new year to be filled with success, love, happiness and prosperity.