Hello, today I am releasing my 2nd article related to a cryptocurrency in particular.
This one is in my opinion the best privacy-related altcoin.
I will inform you about its features and explain why I consider it to be undervalued.
I will try to keep it understandable, even for those that just recently found out about cryptocurrencies.
Today I will be covering Verge (XVG).
Although incredibly complex due to its massive amounts of information and features, it is safe to say that it is an altcoin that understands safety, decentralization and "fairness" very well.
Verge strives to offer anonymity and decentralization at the highest level imaginable, as the original vision of Satoshi was when he introduced bitcoin.
It has features/benefits which make it truly anonymous.
-A tor wallet
Tor is a web browser which protects your identity while using the internet.
Often used to access the dark web, it also serves those that want to use the "regular internet".
During times in which big companies and governments are massively profiting from all of your information and limiting your privacy as much as possible, tor is a good choice for everyone!
Tor hides your IP, doesn't store cookies and does a good job at protecting your online activities.
If you combine this with Verge, an anonymous currency, you will be able to make what ever purchases and investments you would like to make and use the internet as it was originally meant to be.
For example gambling or making purchases you would rather keep private become accessible without traces.
-Not supporting master nodes
Master nodes are very expensive machines that mine cryptocurrencies.
They give a lot of power to those that can afford them, centralize crypto and master nodes are able to register IP adresses.
Verge keeps their currency truly decentralized without giving up any of its transaction speed, transactions are generally completed in under 30 seconds.
Verge focuses on protecting the user's identity (IP), instead of protecting the transactions.
Other than Monero, the other privacy based cryptocurrencies do not focus on protecting IP addresses which can ultimately lead to the people behind them.
Verge has a white paper that they call a black paper (I guess they want to be original by having a black background) which you can find here, it gives you a full overview of verge's main features: Black Paper
Further information about Verge can be found here: FAQ
Verge did not pre-mine and is based on proof of work.
They focus on fairness and fund their development themselves and through donations.
Soon they are adding more methods of generating income to fund further development by adding a Verge merchandise store (Accepts XVG and BTC) and by taking a 2% fee of a multi-algorithm mining pool that they will be finishing somewhere during August.
Verge does not like to make empty promises and only shows a visible roadmap of 2 months at a time as they want to make sure they can deliver.
You can find their roadmap right here: Roadmap
Something I personally find very interesting on the list is the fact that they are adding smart contracts.
The development of their smart contracts is currently finished but is awaiting approval/activation of a third party.
I expect that the addition of smart contracts will cause a massive spike in the valuation.
Verge has been around since 2014 as DogeDark before rebranding to Verge in 2016.
During the development of Verge it has built a massive, active community.
With a telegram chat of over 3000 active members, 100s of pages of comments on their external forum topics and an active following on twitter, the alt is being supported and used by many!
Let's compare its market cap to those of its competitors:
Verge: $39m
Zcash: $356m
Monero: $651m
Dash: $1.4B
I think the low market cap of Verge is mainly because it is not available on Poloniex.
Although I seriously dislike Poloniex and advise you to stay away from it as I wrote in another article Link to article it has a lot of volume and quite a small list of alt coins (Compared to Bittrex and Cryptopia for example).
Poloniex used to be the "main exchanger" for many and getting your altcoin on Poloniex was considered quite an achievement.
Whenever Polo would add a new cryptocurrency its value would almost instantly spike.
Even though I don't advice you to trade on poloniex, you can request them to add XVG right here: Link
It might contribute to a broader adoption.
On Bittrex it is a very popular pair and with traffic moving towards Bittrex I don't expect it to be valued as is for a much longer period.
During the major market correction of the past month or 2, it showed massive support at 100 satoshi's per XVG.
Coupled with major developments upcoming and the fact that it's valued at 10% of its smallest competitor, I foresee a grand future for Verge.
Verge is on my list of long term coins, as is EquiTrader, which I wrote an article about recently, which you can find here: Link
Follow me on Steemit and twitter to never miss any of my articles, I will soon be taking recommendations as well.
Greetings,
Marc de Koning