5 Reasons to Sell Bitcoin for Verge coin XVG
Here are the 5 Reasons to Sell Bitcoin for Verge coin XVG as the cryptocurrency hiked around 2,643.68% to US$ 0.1357 in the past six months, also trying to take the popularity of both Dogecoin and Bitcoin.
CoinCrump – Back in December 2013, a Doge coin was launched as a joke to show the absurdity of highly speculative and unstable crypto-market. Product manager of Dogecoin, Jackson Palmer launched it as a mere joke and internet meme. Today, Dogecoin has become a tipping system for people in internet and people, in general, take Dogecoin a bit less seriously. But in 2014, a strange byproduct of Dogecoin was split from the main blockchain, as a result of a fork and came to be known as Dogecoindark, which further rebranded as Verge coin XVG.
5 Reasons to Sell Bitcoin for Verge coin XVG
Verge currency is a cryptocurrency which works on similar blockchain based technology, which is used in Bitcoin. It is designed for everyday use. Although It seems like, another typical crypto in the town but it continues to transcend bitcoin technologically. So here is why you should invest in Verge coin XVG before it gets too late.
Completely anonymous and privacy-focused
Verge uses multiple anonymity-centric networks such as Tor and I2P. The Tor and I2P networks obfuscate IP addresses, and the transactions are entirely untraceable. The Tor derived its name from the project name “The Onion Router” is an IP obfuscation service which enables anonymous communication. Tor directs internet traffic through a free worldwide volunteer overlay network.
Moreover, the Verge coin XVG also integrates I2P which was initially developed to provide secret services which allow people to host servers at unknown locations. The Verge Blackpaper v3.0 has been released, and the developers are currently working on the Wraith Protocol. The Wraith Protocol is a technology which allows the users to switch between public and private ledger in verge blockchain uninterruptedly. The Verge will be the first coin to integrate the Wraith Protocol into its blockchain.
Hence, it means that if the user turns ON the wraith protocol, the transaction data will not be visible via blockchain explorer. This feature makes the Verge the only genuinely anonymous and privacy-oriented blockchain available to date. (however due to some technical glitch the integration of Wraith protocol has been deferred).
Ultra-fast transaction speed
There are two main factors which influence the rate of any blockchain transaction:
I. The number of net transactions in the network.
II. The transaction fees for confirmation.
As the number of transaction increases in the network, the longer the transaction takes. It’s because the number of miners to solve blocks are finite.
The miners solving the transaction blocks are more likely to prioritize transaction by the number of fees they will receive for confirming the transaction. Therefore, you have to pay higher transaction fees if you want to decrease the transaction time. Also, the Bitcoin community has made a standard of 6 confirmations for converting the unconfirmed transaction into the confirmed transaction. It means, your transaction will remain unconfirmed until the network solves six blocks present in the network.
However, it requires on an average 10 minutes to solve a block as the hash rate of the network is growing or shrinking. Therefore, your transaction may take 1 hour for the confirmation from the network. Also, this is the inherent problem of bitcoin and its everyday use. Imagine yourself waiting for an hour outside a McDonald’s outlet just for a regular Mac-meal.
In contrast, the Verge coin XVG drops the transaction confirmation time to 5 seconds. Verge coin XVG uses simple payment verification (SPV) technology which allows the network to reduce the transaction time.
They have also planted, Rootstock (Rootstock) Smart Contracts in their Black paper for future development. The Rootstock or RSK is a two-way pegged sidechain that drafts smart contract functionality onto the Verge blockchain network. It introduces an off-chain protocol where the verge can be pegged to RSK (which doesn’t have its token). This protocol will help to increase the transaction speed for near-instant payment further.
Verge coin XVG is a multi-algorithm cryptocurrency that is designed to enable people with different types of mining devices to have equal access to earning coins. The total supply of Verge coin XVG is 16.5 Billion coins. And it works on five proof-of-work algorithm which makes it secure and prevents attacks.
The Verge coin XVG has its secure wallet which uses secure remote servers. It also provides simple and easy cold storage of your verge. The electrum wallet is available for both mobile and desktop. This wallet allows users to store all or part of their coins in an offline manner. Moreover, Electrum is one of the only wallets to provide native Tor and i2P support. By integrating Electrum with Tor and i2P, one can achieve anonymity while using the desktop/mobile wallet. Both IP address and transaction information are secured and do not leak to the connecting servers; increasing user privacy.
Still an Underdog
After the brutal 25% drop on new year after the developers failed to keep their promise of integrating Wraith Protocol into the Verge blockchain, it brings the buying opportunity for the peeps out there. Currently, it is being traded with the market Cap of 145,000 BTC and priced around USD 0.15. Although it is highly volatile which exposes investors to high risk. But it seems to have potential looking at its technology and developers.
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