Up and coming #1: Verge Coin

8 Questions answered about a coin which might be a good buy today: Verge

First of all Verge went up yesterday by approximately 30% and is down 15% today. I wouldn't be surprised if it goes down some more tomorrow but there is clearly some action going on. Is that just because of the crypto hype or is there more to it?

1. What is the current price of one token?
$0.00338

2. What is the total amount of tokens?
16,555,000,000 Verge tokens (XVG)

3. Can more Verge be mined?
Supply is limited to 16,555,000,000 XVG of which 13,409,472,280 XVG is circulating.

4. What is the current market cap?
$45,353,785. With this market cap Verge is currently holding 57th position.

5. What is Verge?
Verge is trully decentralized cryptocurrency that is based on the Bitcoin blockchain. This is the coin for anyone that thinks Btcoin is not anonymous enough due to the fact that all transaction, even though they are encrypted, are still being stored in a blockchain datase with immutable timestamps and ip addresses are also timestamped and visible for the network. Transaction made with XVG are anonymous and 100% secure. To achieve this Verge makes use of numerous anonymity-centric network adaptations know as Tor and i2p. The first advantage of using the Tor Network is that nobody, be it the government or attackers, can analyse traffic. All transactional traffic is routed through multiple global servers making it unable to see from which IP-adres the transaction originated.
Secondly, you won't be dealing with the issues Bitcoin nowadays has (high transaction feees and slow confirmation times delaying transactions) as Verge provides accelerated transaction times resulting in instant transactions.

6. How can I purchase and store Verge?
Verge can be bought on:

• Litebit.eu
• Bittrex
• BitSquare.io
• C-Cex
• SouthXchange
• NovaExchange
• Cryptopia
• CoinGather

Verge has a full range of desktop wallets with multiple option available for Windows and Linux. For Mac it has the Verge Mac OSX Wallet which like the other can be download on the website of Verge. Currently they only have mobile wallets for Android devices and for anyone wanting to use a web wallet there are 6 options to choose from.

Then there are the Verge-Electrum wallets which allows you to hold one wallet on your computer and one on your smartphone. For any outgoing transaction you will need signatures from both devices which will mean that anyone trying to steal your XVG will have to gain access to your smartphone and computer. Further advantages of the Verge-Electrum wallet are:

• Always up-to-date and no delays as you don't need to download the blockchain. All blockchain information is requested from a server.
• Scripts are not downloaded and so a compromised server can't send you arbitrary code and steal your XVG.
• Deterministic Key Generation which means that if you ever would lose your wallet you can recover it by using the backup you made. This back-up will last forever and won't go stale after a certain amount of addresses are created (other wallets have this issue after an x amount so in that case make sure you backup your wallet regularly). This is because of the fact that a deterministic wallet derives keys from a single starting point which is known as the seed. A backup of this will always allow you to retrieve your wallet.
• It sign transactions locally and so private keys are not shared with the server.
• Privacy as you can use any server, none of the server store user accounts and the Verge and i2P servers don't even receive an IP-address from its user.
• Freedom as you can export your private keys.

7. Who is in the team behind Verge?

• Sunerok is the creator and lead developer of Verge. He used to run a network security company and a mining pool called Goldmin.es.
• CryptoRek
• Buk-Lee

"Verge is a cryptocurrency I created, to make an attempt at keeping the original vision of Bitcoin alive. User privacy, with a public ledger, so that users could remain anonymous, but mass market adoption was still possible. (I don't believe real world market adoption can occur with a private ledger)"
Sunerok

8. Buy it or not?
The team seems to be working hard based on a 12 point road map they recently released. This road map covers June and July of this year and they are up to date and halfway through it. RSK smart contracts are in the testnet for Bitcoin now and there are multiple developments in regards to the wallets so we should see some positive news in July. We all know what some positive news can do to a coin.
If you look at the graph above you can see that the main peak was around the 3-5th of June. So what happened around that date? On the 4th of June Verge released its Black Paper (White paper) and got the Electrum Tor Server/Client and the Electrum i2P Server/Client up and running.
They are insanely active on Twitter also released a new website earlier this month.
Don't forget that this company/coin is set up to be a solution for people that want more privacy than Bitcoin can give them today. There is a massive group in society that doesn't want to be tracked in any way, might feel that Bitcoin has had too much public attention, need instant transactions and preferably don't want their IP-addresses to show. Verge is trying to attract the attention of these people by actively trying to promote themselves.
Not everyone wants the biggest and best known coin in the market today or use Ethereum or an altcoin released on the Ethereum Network. But they do still want to hide their money, discretely transfer it in an instant and keep it safe from anyone and everyone. So why not purchase Verge? Maybe because you are already using Monero.

Thank you for reading, please share your thought and don't hesitate to leave a comment, follow me or upvote my posts!

Check out my 'ICO of the Day' posts!
ICO of the Day #5: Prospectors
ICO of the Day #4: Crypto Ping
ICO of the Day #3: Status
ICO of the Day #2: Tezos
ICO of the Day #1: Polybius

Sources:
CoinCap: https://coincap.io/
CoinMarketCap: https://coinmarketcap.com/currencies/verge/
Verge Currency website: https://vergecurrency.com/
Verge Black Paper on Github: https://github.com/vergecurrency/Verge-Blackpaper/blob/master/Verge-Anonymity-Centric-CryptoCurrency.pdf
Secwire: Interview Verge Developer by El Patron: http://blog.secwire.net/interview-verge-developer/