Verge (XVG) - Privacy-Focused Blockchain with Public and Private Ledgers
What is Verge?
Verge is another decentralized privacy-based cryptocurrency, much like Monero or Zcash. Verge is based on a blockchain and works on a Proof of Work Algorithm (similar to Bitcoin). Proof of Work algorithms are regarded as very decentralized and secure in the crypto world, as they require an intense amount of computing power before confirming a transaction. One of the things that sets Verge apart from its competitors is that it supports a public as well as a private ledger (detailed in the infographic below).
Verge uses "stealth addresses" which help to hide the sender's and receiver's identities and locations, but not the $value of money being sent. The currency also has very fast transaction times and low fees.
We note that Verge is an open-sourced community-based coin. In other words, there is no single company that supports it. While this usually regarded as a positive thing for big coins, it also requires a strong community backing. And as there are several other cryptos in the privacy space, we have to question how strong Verge's community development will be. Some competitors, such as Monero, already have very big communities and strong development teams.
As an investor, you should be aware that there are 16.5 BILLION Verge coins in total supply (compared to Bitcoin's ~17 million). While this doesn't really affect how strong of a project Verge it, it does play a big role into Verge's price. A coin's Market Capitalization is calculated by multiplying its Price by the Number of Coins in Supply. Cryptos with billions of coins (like Verge), will never have as high of a Price as cryptos will smaller supplies. In trading Verge, be sure to be aware of its relative Market Cap, rather than its price.
Who is on Verge's Team?
Verge is a community-based coin which began with a group of over 200 volunteer developers in 2014. You can read about some of their strongest developers in an interview here.