The Verge (XVG) project sits at the crossroads where blockchain technology intersects with advanced privacy protocols. Founded with the objective of integrating robust privacy mechanisms into the blockchain, Verge uses a range of technologies to provide secure and anonymous transactions.
This article delves into the technical aspects of Verge, offering a comprehensive understanding of its functionality, underlying technology, and its investment potential within the broader crypto ecosystem. Whether you are a crypto beginner or a seasoned investor, this review of Verge is designed to enrich your understanding of this unique project.
What is Verge (XVG)?
Verge is a cryptocurrency with an emphasis on privacy and anonymity. The project revolves around XVG, its native cryptocurrency, which is designed to enable secure and identity-obscured transactions. Verge directly addresses the transparency issues of Bitcoin and other cryptocurrencies where all transactions are open and traceable by anyone. With Verge, transactional privacy is upheld, providing users with the liberty to carry out transactions without fear of traceability.
Who created Verge?
Verge emerged in 2014 from the creative mind of Justin “Sunerok” Valo, also known as “Vendetta”. Initially launched under the moniker DogeCoinDark, the project underwent a rebranding to emerge as Verge Currency, reflecting its mission more accurately.
Justin started programming at age eight and later worked in network administration for a Fortune 500 company. He subsequently ran his own network security company before being drawn to Bitcoin around 2010 or 2011, which ultimately led to the creation of Verge.
In response to the fleeting nature of coins and empty promises made by their creators, Sunerok, drawing from his mining pool experience, founded Verge as a reliable and transparent alternative to the prevalent pre-mining and other profiteering practices.
Key features of Verge (XVG)
Verge is built with a core focus on user privacy and transaction speed. Its innovative features ensure anonymity and efficient, direct transactions. Let’s examine these key features to understand how Verge achieves this:
IP Obfuscation via Tor
Verge incorporates Tor, an IP obfuscation service, into its wallets, removing any single point of vulnerability that could be exploited through network surveillance.
Multi-Algorithm Mining
Using a Proof of Work (POW) mining principle, Verge is one of the few currencies that supports multiple algorithms. It utilizes five different hash functions: Scrypt, X17, Lyra2rev2, myr-groestl, and blake2s, promoting more equitable access for the mining community.
Atomic Swaps
Verge supports Atomic Swaps, or direct peer-to-peer cross-chain trading, eliminating the need for third parties. This technology paves the way for decentralized exchanges, enabling users to maintain control over their funds.
Dual-Key Addressing
Verge uses Dual-Key Stealth Addressing, which allows senders to create numerous one-time destination addresses for the recipient. This additional obfuscation layer offers enhanced transaction privacy for the receiving party.
What problems does Verge address?
The main offering of Verge is direct transactions, characterized by their low cost and security.
- Privacy: Verge hides IP addresses and transactions using SSL and TOR encryption, providing enhanced security and privacy for businesses and individuals seeking discretion.
- Faster Transactions: Verge’s blockchain network ensures swift transactions compared to other platforms. Using Simple Payment Certification (SPV), transactions are completed within 5 seconds, allowing for efficient trading and multiple transactions without overwhelming users. The platform also offers affordable transaction fees on crypto exchanges.
Is Verge dead?
After the multiple attempted 51% attacks that Verge suffered over the years and the slowing down of developer activity, many people have proclaimed Verge a “dead project”. Is that statement still relevant as of mid 2023?
In June 2023, Verge has achieved compliance with ISO 20022, becoming the 9th cryptocurrency to offer this standardized option. This milestone showcases Verge’s commitment to decentralization and paves the way for integration with traditional finance.
With these news came a surge of social media as well as investor activity, putting XVG into the top charts as one of the most popular tokens on the market.
Finally, Verge still has a solid list of vendors that accept XVG as payment for their goods and services, showing that the project still has utility and is used by businesses around the world.
The tokenomics of XVG
| XVG Price | $0.007076 |
| Trading Volume 24h | $212M |
| Market Cap | $117 million |
| Circulating Supply | 16,520,142,294 XVG |
| Total Supply | 16,520,142,294 XVG |
| Market Rank | #189 |
As of July 2023, XVG, Verge’s native token, currently trades at a price of $0.007076. With a market capitalization of $117 million, it holds the 189th position among cryptocurrencies in terms of market cap. The token has seen a trading volume of $212 million in the past 24 hours, indicating active market participation. With a circulating supply of 16,520,142,294 XVG tokens and a total supply of the same amount, Verge has achieved widespread distribution among its users. These figures highlight the ongoing activity and interest surrounding the XVG token within the cryptocurrency market.
XVG Price History
Verge has had notable price fluctuations throughout its history. It reached its all-time high in December 2017, with a token valued at $0.3006. On the other hand, its all-time low occurred in February 2015, when the token price dropped to $0.000002167.
XVG all-time price chart. Source: CoinMarketCap
In 2018, Verge experienced a significant crash, which resulted in a prolonged period of stagnation. However, the cryptocurrency received a boost in early 2021 when a market rally occurred, taking XVG to the price of almost $0,07.
Since then, the price of XVG has gone down to its previous level of under $0.01 again until showing a significant uptrend in July 2023, attracting investor attention back to this asset.
XVG price prediction
Here is what some popular cryptocurrency price prediction outlets say about the future direction for XVG.
XVG Price Predictions for 2023
According to DigitalCoinPrice, XVG is projected to have a minimum price of $0.00675, an average price of $0.0157, and a maximum price of $0.0165 in 2023. This suggests a potential upward trend for Verge, indicating a range of growth possibilities for the cryptocurrency. However, Priceprediction.net offers a more conservative forecast, estimating a flat price range of $0.003 to $0.003 for the same year. It is important to consider both predictions and the underlying factors influencing the market to assess the potential future performance of XVG in 2023.
XVG Price Predictions for 2025
Looking ahead to 2025, DigitalCoinPrice predicts a minimum price of $0.0221, an average price of $0.0265, and a maximum price of $0.0271 for XVG. This projection indicates a potential increase in value over time. On the other hand, Priceprediction.net offers a more conservative forecast, suggesting a price range of $0.006 to $0.007 for 2025. These varying predictions highlight the uncertainties associated with cryptocurrency markets and emphasize the need for careful analysis when considering future price trends.
XVG Price Predictions for 2030
DigitalCoinPrice’s long-term forecast for XVG in 2030 indicates a minimum price of $0.0731, an average price of $0.0777, and a maximum price of $0.0784. These projections suggest the potential for significant growth in the value of XVG over the course of a decade. Conversely, Priceprediction.net estimates a more modest price range of $0.037 to $0.044 for the same year. As with any long-term prediction, it is essential to consider various factors that can impact the cryptocurrency market and affect the actual price movement of XVG in 2030.
Is XVG a good investment?
XVG is a resilient blockchain project that has maintained its relevance since 2014. However, it is important to consider several factors before determining whether XVG is a good investment opportunity.
One notable aspect of XVG is its ability to withstand market fluctuations and maintain a presence in the cryptocurrency landscape for an extended period. Despite experiencing a long period of decline, including an 80% loss in value, XVG has shown solid growth in July 2023. In line with most predictions, this token has a chance to recover its losses in 2023 and keep a slow yet steady growth in the years to come.
It is also important to consider Verge’s past issues when evaluating its investment potential. Over the years, Verge has experienced multiple security challenges, including three 51% attacks. These attacks raised concerns about the network’s security and reliability, leading some to question the project’s viability and even consider it “dead.” However, Verge has managed to hold on and maintain its presence, thanks in part to its loyal following and community support.
You should take into account both the project’s history and its efforts to address past issues when assessing the investment prospects of XVG. Conducting thorough due diligence and considering all available information is crucial before making any investment decisions.
Where to buy Verge (XVG)?
When it comes to buying Verge (XVG), there are several options available. However, we recommend you check out Guardarian.
With us you can conveniently buy XVG and over 400 other cryptocurrencies easily and without registration. All exchanges on Guardarian are non-custodial, ensuring that you always have control over your funds. Additionally, we support a wide range of payment methods, offering a seamless buying experience for anyone.
How to buy XVG Instantly on Guardarian
Here’s a straightforward guide to purchasing XVG without registration:
- Visit www.guardarian.com.
- Select Verge (XVG) as the cryptocurrency you want to buy and choose your preferred payment method.
- Enter your Verge wallet address.
- Complete our instant and intuitive checkout process.
- Check your wallet. Your purchased XVG will be available within minutes.
Guardarian provides a simple and efficient platform for buying XVG with ease. By following these steps, you can acquire Verge and have it securely transferred to your wallet in no time.
Conclusion
In conclusion, Verge (XVG) presents an intriguing yet somewhat risky investment opportunity. While it is important to consider the past security concerns regarding the projects along with its “dead status”, Verge is a project that managed to stay relevant in spite of all the challenges. And given XVG’s resilience and growth projections, we think it’s worth keeping an eye out for.
And for those looking to buy Verge fast and securely, Guardarian is an excellent platform to consider. Stay in control of your funds and enjoy the lowest fees possible at www.guardarian.com.
