Verge is one of the decentralized cryptocurrencies, which has the highest degree of anonymity. It is built on the basis of TOR and i2P networks and guarantees a uniform reward to miners, implementing several available algorithms. The block time is half a minute, and Proof of Work is used as a confirmation method.
At the time of its appearance in 2014, these crypts were called DogecoinDark and served as a fun currency. Then they became one of the pioneers of the anonymous cryptocurrency segment. Two years later, the new name Verge was approved, and the system has undergone some changes.
The developers have released 16.5 billion tokens, a large part of which is in the circulation. This does not allow to expect significant growth, although it was not always so. Initially, the value of the coin was about zero, but in the summer of 2017 “Verge” for the first time showed a significant increase from $0.00019 to $0.00039. At the end of December, a new record – $0.2619 was reached, but then the price of tokens began to decline.
The specificity of mining Verge coins.
- number of blocks before complexity recalculation: one;
- generation of block – 0.5 minute;
- available generation protocol: POW;
- current algorithm: blake2s, groestl, scrypt, lyra2rev2, x17;
- reward: 12.5 thousands;
- the number of blocks currently: 297418;
- actual complexity: 259.68516369.
Verge (XVG) advantages
The platform has a minimal commission, and also has no general structure controlling all processes. It is possible to use five different mining algorithms, and the value of the reward is determined by the total number of generated blocks. Verge has the highest confidentiality, actively using advanced encryption methods.
All operations are performed without much effort. Before you start, you should install the necessary software for your own wallet, and then the blockchain technology are ingaged in the work. All operations are carried out instantly, which is quite convenient for the user.
The assessment of the prospects of this cryptocurrency is based on the following features:
- the efficiency of the trades – five seconds to the transaction is not a record, but it’s a decent indicator;
- the project is not controlled by government agencies and large investors;
- the presence of open source;
- constructive support from the community – the support of the development team are platform users and international communities;
- long-time presence in the market, which can be considered an advantage in the segment of the crypto industry;
- the ability to run private smart contracts;
- an effective mask of anonymity, as well as the availability of reliable storage on multiple operating systems.
All this allows us to conclude about the good prospects of the digital currency globally. Coins Verge are best suited for users who appreciate maximum privacy for transactions, since all data members of the system are protected. XVG can also be considered as a good digital investment asset for long-term investments.
How to create a Verge wallet?
Users have access to several ways to open a wallet. One of the good options – to have two wallets at once, for example, QT and Electrum. The first is convenient for performing additional operations, and the second is optimal for daily transactions.
Electrum has an open code and acts as a lightweight version of Bitcoin wallet. It allows you to instantly perform the necessary operations (6-10 times faster than analogues) and does not require special skills in management. Unsurpassed efficiency is explained by the use of SPV technology, which does not involve downloading the blockchain, allowing you to confirm transactions without it.
Both wallets are good to use for XVG storage, as it is too risky to do it on crypto-exchanges.
Where to buy Verge (XVG)?
Like other crypts, coins “Verge” can be purchased at a special cryptocurrency resources like YoBit or Binance, but to make the deal by paying fiat money, will not work. Therefore, first you need to buy esters or bitcoins, and then perform trading on the crypto-exchange.