Verge vs Monero: which one is a better investment?
There are several coins in the crypto space that are focused on privacy. Amongst them are Monero, Verge, PIVX, Zcash and Dash. Today we are going to talk about the Verge coin, review it in details and find what makes it different from other coins of such type so as to make predictions on its price change for 2018.
Verge is one the altcoins that experienced a huge rally in the end of 2017. Currently it’s traded at around $0.09 per XVG. It set its own record of $0.26 per coin in the end of December.
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Privacy focused cryptocurrencies
For a cryptocurrency to have real value it has to have a unique value proposition, some advantages that can make it stand out of its competitors.
The cryptocurrencies focused on privacy have been around almost as long as Bitcoin has.
- Monero is the most popular amongst them as it is fast, reliable and provides its users with anonymity.
- Dash is not private by default, the users can select this option for transactions themselves. This is a semi-centralized service
Verge coin technology
Initially it was a Dogecoin fork. The Dogecoin is quite popular as it’s an internet-meme cryptocurrency. When its market capitalization reached $1B its creator Jackson Palmer mentioned some legitimate concerns about why this technology is worth so much. It’s difficult to say how this or that coin has reached such heights, but if you want to analyse a project, you should look to the one that’s similar to it and then investigate its technology so as to see which one has a better potential in the future.
The technology that adds value to Verge in comparison with Dogecoin is that it plans to add the Tor service which will make its wallet fully anonymous.
Verge vs Monero
Verge uses Tor technology to hide your location and give you privacy, but it doesn’t give you all the privacy that you think it does.
With Bitcoin all the transactions are stored in the public ledger and you can trace any of them and eventually find out the owner of this or that wallet. Verge gives you more privacy, but it isn’t perfect either, as the top 100 addresses are listed publicly on the internet. If you click on one of these addresses you will see the source of the last 100 transactions. However, it’s much more difficult than it is with Bitcoin, which makes Verge more secure.
If you go to the rich list of Monero, you won’t find this information there, as this cryptocurrency uses Cryptonote protocol which implies unique one-time addresses for each transaction, and only the 2 parties know where the money went. With Monero, you can see the processed blocks, but you can’t match them to any individuals.
As you see, Verge beats Monero on almost all the features which makes it a much better cryptocurrency to invest in.
