Privacy digital coins are getting it rough at the backdrop of the current state regulations stance. Verge is among top four privacy coins and is trying to conform to the requirement as the market begins showing signs of recovery. So, does privacy has anything to do with it and is it good for you?
Well, the god new is Verge (XVG) privacy comes with enhanced transaction processing speed, anonymity and the lowest transaction costs. XVG coin is ranked 26 by market cap. Verge is taking the privacy battle to the doorstep of the likes of ZCash, Monero and Dash. So, what is it that this coin is doing better than the competitors?
What is Verge (XVG) Secret?
Verge is designed for those who put privacy in transactions as their priority number one. It is meant to bridge the gap Bitcoin did not anticipate; provision of a decentralized blockchain system with multi-anonymous system. However, Verge has two options; you chose what befits your transactions. You can opt for total privacy or stay public. As a user, you choose the obfuscation level.
There is a lot of democracy among the Verge (XVG) community and they vote and agree on what is popular among their target audience. As an open source innitiative, majority of users have a say in what direction the platform’s development takes. This slightly explains why the coin is recovering fast from the recent market crash.
With the ban on cryptocurrency advertising on some social media and Google, verge was not spared and its presence in the media has taken a dive with the community forum reporting reduced activity. However, the current adoption and the privacy of the coin, the beating is not isolated to XVG but the entire cryptocurrency market.
Verge (XVG) Price Surge
December was a good month for the XVG price, however, the market took a swing and the price dropped drastically only for the coin to gain some resistance around $ 0.06 late January and early February. With the coin still on the green at the time of writing, investors are waiting to see how their stakes move.
With privacy lapses being reported on the Monero platform, users are contemplating on their next move and Verge could be their haven. This might see increased XVG transactions and volumes might skyrocket to give the coin the much needed value boost. However, this will depend on how fast the Monero system seals the existing gaps.
With the current price of standing at $0.045407, the coin is trading 10.55% against the dollar in the last 24 hours. With the charts looking up, it is just a matter of time to see whether the coin appreciates of remains below the $1 threshold.
What is Verge (XVG) Banking on to Break Even in 2018?
Transaction speeds have always pulled the platform down. With an average block time of thirty second yielding a paltry 100 transactions is not the ideal scenario for a privacy coin. This however is set to increase up to 1000 transactions per second. With a fee of 1XVG for every transaction, it might hoodwink adoption in the coming quarter.
With its stealth addressing, the issue of anonymity and privacy should also popularize the network. Users are free to create as many one-time addresses to a single recipient as possible. However, these can only be unveiled by the person you are sending money to. As the initiator, there is no possibility of being linked to the transaction.
Currently, Verge (XVG) lacks big partnerships and the existing ones are limited to the digital coin level. However, with the recent announcement of a “mysterious” partner, Verge seems to have realized the opportunities they are letting slip by. This is their focus for the remainder of 2018 and beyond. This, together with enhanced privacy software is what the developers are working on.