Monero (XMR) and Verge (XVG) are the two top privacy coins in digital currency at the moment. The largest mount seen in the entire crypto market is in the Privacy sector. Both of these coins provide anonymity over the Internet, which makes them very popular among the internet users. On the other side, XVG and XMR have also been blamed for setting a platform for transferring money for illegal sources. Well, every light has a shadow but for the better part, both of the coins are used for legitimate transfer of money.
Many people believe that user transactions are not secure enough in public, so there should be a private way of transferring money. Both of the coins make sure that the user’s transfer of money remains untraceable and anonymous. Know the question asked by an investor is which coin is better? Monero (XMR) or Verge (XVG).
Verge (XVG) Technology
Verge currency wallets uses Tor and I2P networks. These networks allows the user to hide their IP addresses which helps them to keep it private and hide it’s location. A VPN is also used which encodes the network traffic. Verge do not believe on the masternode technology, as they thing it can be hacked easily with the help of DDOS (Distributed Denial of Service) attack on the Masternodes, verge believe that masternodes can bring the whole network down. XVG with the help of Tor network is planning to develop a fully anonymous wallet. Verge coin has much privacy than the other altcoins such as, Bitcoin, etc.
Monero (XMR) Technology
XMR uses I2P network which connects it with nodes to lower the risk of exposing sensitive transaction information and censorship. The “Proof of Work” algorithm makes it easy to mine on normal devices (computer), this makes it more difficult for someone to purchase a large amount of mining power. This protocol allows the blockchain which records a new block but the block cannot be matched with users which makes it much secure than any other coin. XMR is ten times more secure than other altcoins such as Bitcoin, etc. This makes Monero the best anonymous coin in cryptocurrency.
Verge (XVG) vs Monero (XMR)
Verge (XVG) has been trying prove itself as the best privacy coin in cryptocurrency, but earlier this year XVG was attacked twice questioning the privacy of the coin. XVG was exposed to attacks with a 51% attack rate. This incident created FUD amongst the investors, whether Verge is a true privacy coin or not. At that time verge was still in building stages but know they are improving to be better at privacy, but still Monero is rated higher than Verge as far as privacy factor is concerned.
Although, XVG has more features than XMR. Verge has a faster rate of transaction when compared with XMR, verge does one transaction in 30 seconds where as monero does one transaction in 2 minutes. Verge has maximum supply where as XMR has zero maximum supply, XVG has a maximum supply of almost at 16,555,000,000 XVG. This shows verge price with increase as they are involved in more partnerships.
Comparing both XVG and XMR shows that verge is well above monero in almost every feature but except for the one aspect it is designed for i.e privacy. Verge has to work hard if they have to pass Monero in privacy sector, Monero is more steady and reliable.
Currently, Verge is on 40th spot on coins ranking with a price of $0.012 USD and Monero is on 9th spot with a price of $109 USD (at the time of writing). The difference seems to be huge but verge is working very hard on it’s developments and soon we can see XVG rise. XVG just needs one thing and that is the investors confidence just like Monero. Both of these coins are to look forward in future as they will play a keep role in cryptocurrency.