What is Verge Coin XVG?
Verge Coin started its journey as DogeCoinDark in 2014, named after the world's most popular meme cryptocurrency. In 2016, the coin was rebranded to Verge Cryptocurrency, and has since been gaining enormous traction in technology and investment communities.
Verge coin is meant to improve upon ideas embodied in the Bitcoin blockchain.
- Like Bitcoin, Verge coin is mineable. But Verge miners can choose one of three mining methods to get their Verge, rather than the expensive and limited options afforded to Bitcoin miners.
- Like Bitcoin, Verge allows for everyday payments. But where Bitcoin payments are not anonymous, Verge coin transactions are masked with TOR and i2P, for fully private transaction.
- Like Bitcoin, Verge is decentralized money. But Verge is also in the process of adding smart contract functionality, allowing it to develop for the needs of the world better than Bitcoin.
There are many more ways that Verge sets itself apart from popular payment coins like Bitcoin, DASH, and Litecoin. Even with this short list, you can see that Verge coin is finding new ways to meet the needs of a diverse array of users. As more merchants and services accept Verge as payment and the community grows, fast, private, cheap, and secure payments may show the world that Verge coin needs to take the throne as the world's #1 payment coin.
What is Unique About Verge Currency?
Many cryptocurrency investors prefer to see a coin with a low circulating supply. Low supplies create the appearance of scarcity, even though coins like Bitcoin can be divided into millions of pieces called Satoshis. Because one Bitcoin is so expensive, users have to use confusing values (like 0.000061 BTC, for example) to make routine payments. Verge coin, in contrast, has a maximum supply of 16.5 Billion, to be reached through mining in about 8 years. This way, Verge XVG owners can use sensible XVG quantities for payments (like 100 XVG, for example).
How is Verge Coin Introduced to the Market?
The earliest cryptocurrencies were mineable - certain users employed powerful computers to solve encoded problems that released new coins little by little. With the advent of the ICO (Initial Coin Offering), a new cryptocurrency project could release all of their coins at once, netting the project owners enormous profits in just hours. The ICO model has introduced some amazing blockchain projects, but the instant gratification funding model has also yielded a bumper crop of scams.
Verge coin is fully mineable. Verge coin developers must buy their Verge XVG on the conventional market, just like everybody else. Verge coin miners can choose from 1 of 5 mining options: Scrypt, X17, Lyra2rev2, myr-groestl and blake2s. Bitcoin miners, in contrast, have only one mining algorithm to choose from. This allows the companies that create Bitcoin mining devices to charge top dollar. Meanwhile, Verge miners can choose whichever option is cheapest, or otherwise best meets their needs.
Thoughts on the Current Verge Coin Price
It's hard to believe that Verge coin has been around since 2014, back in the embryonic early days of the cryptocurrency industry. Back then it traded for literally millionths
of a dollar. Verge Coin (DogeCoinDark in the beginning) hovered around these levels until development blossomed in 2017, when it exploded along with the rest of the crypto market to a height of over $0.22 per XVG.
At the time of this writing, the Verge coin price has fallen to just over a third of that, to right around $0.08 USD. As Verge coin has recently survived a major controversy (more on this later), with continued enthusiasm in the buying markets, we expect to see Verge coin test new heights in the coming months, providing the rest of the market recovers as expected. If this does occur, the current Verge coin price may soon be looked back upon as a major buying opportunity for would-be Verge coin investors.