2 years ago 2561
Among anonymous tokens, the popularity of the Verge cryptocurrency (XVG) is growing, the volatility of which has already allowed investors to make large profits. Forecasts regarding the further development of the project remain rosy, so crypto enthusiasts are interested in how to mine coins and whether it is worth buying Verge, counting on further growth in the rate.
Each of these and other important questions will be answered below in the Verge (XVG) review, which describes the idea of the project, difference from other blockchain networks, place of purchase and storage, forecast for 2019-2023, etc.
general information
The review of the Verge cryptocurrency should begin with the history of the emergence of the XVG network, which began operating in 2014 as a fork from the Bitcoin blockchain. Initially, the coin was called Dogecoin Dark, and behind its appearance is the name of Justin Sanerok, a programmer who believed that Bitcoin could not cope with the role of an anonymous digital asset, and the slow speed of its blockchain did not allow the use of BTC as a full-fledged means of payment.
The presence of the word Dark in the name directly hinted that the new coin was safe to use on the darknet for anonymous transactions. Since the introduction of XVG, the coin has been noticed because it has done its job by offering secure and fast transactions that require a maximum of 5 seconds to confirm.
Subsequently, the project developed and introduced new security technologies, described in more detail below in the corresponding section. Since the modified XVG blockchain network no longer resembled the original product, it was decided to rebrand. This is how the Verge cryptocurrency (ticker XVG) appeared in 2016, giving many X’s to its holders as the rate grew.
The Core Value of Verge XVG
Unlike many other cryptocurrencies, DogeCoinDark did not even have an ICO at its launch. The developers created a branch of the Bitcoin blockchain, invested their money in the project and mined the first coins themselves.
The Verge team focuses on anonymity and privacy. And although the project developers did not create a completely new technology, but took the existing Bitcoin blockchain as a basis, they made some improvements to it (primarily this concerns the SHA 256 algorithm).
During the work on the Verge project, TOR and i2P were added to the blockchain, which makes it possible to anonymize user transitions to the Internet. The Verge network has a system that allows for near-instant transactions. XVG cryptocurrency can be transferred faster than other coins because it uses SPV technology, thanks to which the developers were able to reduce transaction time to 5 seconds.
The system uses five types of mining algorithms:
- Scrypt
- X17
- Blake2s
- Groestl
- Lyra2rev2
This helps make mining smoother and more convenient. Many miners prefer the Lyra2REv2 algorithm, which allows you to mine coins on video cards (new NVIDIA, Radeon and GeForce models are suitable).
Exchange rate dynamics
To track the dynamics of price changes and monitor the current value of the token, below is an online chart of the Verge exchange rate against the dollar and ruble.
If you follow the XVG exchange rate to the dollar, you can see that after its appearance in 2016, its value was $0.000053. Over the year, the rate fell more than 2.5 times, and by the beginning of 2022 it was 0.00002. But 2017 was a very successful year. By the end of May, quotes reached 0.001, having risen 50 times in 5 months!
The historical maximum of the Verge rate against the dollar was set on December 23, 2022, when XVG quotes reached $0.3 per coin! After this, the coin went into a prolonged peak, like the entire cryptocurrency market in 2022. A powerful attempt at growth in 2022 came in April, when news leaked that XVG would collaborate with PornHub, Brazzers and the Nutaku studio, which creates games for adults.
Because of this news, the coin rose from 2 cents to almost 12, but the partnership turned out to be overvalued, so a new wave of sales began. By the end of 2022, the exchange rate of the coin against the US dollar is $0.0058.
Influencers' views on Verge
We've already mentioned John McAfee's influence on the Verge story. In 2017, he advised his followers to invest in Verge. However, in June 2022, McAfee wrote the opposite:
John you still believe in Verge that Hard?
— Utoofast (@mrtoofast) June 26, 2019
“John, do you still believe in Verge?” “I never believed in Verge. I just said that it could go from $0.005 to $0.02 – that’s all.”
Charlie Lee, the creator of Litecoin, pokes fun at the Verge on Twitter:
Turns out Verge's super expensive partnership was PornHub. “we think it has gained enough steam for us to penetrate the market.” penetrate.
